Dow Jones Gains Over 650 Points Driven by Coca-Cola and Sherwin-Williams Earnings
The Dow Jones Industrial Average rose more than 659 points, or 1.3%, on Tuesday as strong earnings from Coca-Cola and Sherwin-Williams boosted blue-chip stocks. Sherwin-Williams stock surged 8% after the company exceeded second-quarter estimates, while Coca-Cola climbed 5% following better-than-expected revenue and profit results along with an upgraded full-year outlook. The S&P 500 gained 0.3%, led by a strong performance in consumer-staples stocks which rose nearly 2.7%. Meanwhile, the Nasdaq Composite remained flat as chipmakers continued to struggle amid concerns over AI spending trends and China's advancements in semiconductor technology. The VanEck Semiconductor ETF fell more than 3% for its fourth consecutive decline. Market rotation out of tech into other sectors was evident with health care and financials hitting record highs, while the Technology Select Sector SPDR Fund hit a multi-month low.
Topics: Coca-Cola earnings Dow Jones S&P 500 Sherwin-Williams earnings stock market movement