US Stocks Mostly Higher On Strong US Earnings, Dow At Record High

US stocks were mostly higher on Wednesday afternoon, with the broad-based Dow Jones Industrial Average hitting all-time highs, amid stellar earnings reported by American companies for the third quarter

NEW YORK (UrduPoint News / Sputnik - 20th October, 2021) US stocks were mostly higher on Wednesday afternoon, with the broad-based Dow Jones Industrial Average hitting all-time highs, amid stellar earnings reported by American companies for the third quarter.

Healthcare giant Johnson & Johnson, consumer behemoth Procter & Gamble and streaming service Netflix are among companies that have reported better-than-expected profits for the quarter. On the technology front, Apple rolled out new accessories earlier this week while Google introduced its latest line of phones on Tuesday.

The combination has fueled gains not just on the Dow but also the blue-chip S&P 500, which groups the top 500 US stocks.

The tech-laced Nasdaq Composite was, however, down slightly on apparent profit-taking after a strong run earlier in the week.

The Dow was up 180 points, or 0.5%, at 35,637 by 1:15 p.m. ET (17:15 GMT). It hit a record high of 35,670 earlier in the session and is up 5.14% for October.

The S&P 500 index was up 13 points, or 0.3%, at 0.7%, at 4,533. The blue-chip indicator rose to as high as 4,541 earlier, coming less than five points away from a record high. The S&P 500 is also up 5.35% for October.

Nasdaq, comprising Big Tech Names such as Facebook, Amazon, Apple, Netflix and Google, was down 25 points, or 0.2%. It was up 2.64% on the month.