The major U.S. indices closed Tuesday's session on an upswing, but the Nasdaq was unable to break back into the green after spending most of the afternoon in negative territory.
The Dow Jones Industrial Average gained 0.78%, or 196 points to 25,240, while the S&P 500 rose 0.47%, or 13 points to 2,820, while the Nasdaq fell slightly, 0.01%, or 1 point to 7,841.
Nike to Boost Pay for 7,000 Employees
Nike Inc. (NKE) is having a great year so it is deciding to spread the wealth around a bit.
The shoemaker announced that it will raise wages for 7,000 employees, or about 10% of its global workforce.
Stock eligible employees will also now have a choice as to whether they'd rather receive their stock awards as options, restricted stock uses, or a mixture of both.
Nike shares were down 0.87% to $75.92 Tuesday.
Lockheed Martin Falls In Spite of Top- and Bottom-line Beats
Shares of Lockheed Martin (LMT) were down 1.14% Tuesday morning in spite of a strong quarter and increased full-year guidance.
The aerospace and defense company reported earnings of $1.2 billion, or $4.05 a share, topping analyst estimates. Revenue of $13.4 billion also topped analysts' forecasts of $12.73 billion. Lockheed also raised its full-year revenue guidance to between $50.35 billion to $51.85 billion. Earnings guidance was also raised to between $16.75 and $17.05 a share.
The decline can be attributed to investors taking profits for the second quarter in a row following earnings.
Google Trades at All-Time High Following Earnings Beat
Shares of Alphabet Inc. (GOOGL) are up 4.56% to $1,266.24, an all-time high for the internet giant following the release of its latest quarterly results.
Alphabet opened at a record high and was climbing 4.38% to $1,264 after its earnings beat. Alphabet reported adjusted earnings of $11.75 a share, well ahead of the market's expectation of $9.64. Adjusted revenue of $26.24 billion was hurt by the $5.1 billion European Union fine that was recently levied against the company. Analysts were expecting the company to report revenue of $25.58 billion.
U.S. futures are indicating a strong open for markets Tuesday, led by Dow futures as earnings season gets in full swing.
Dow futures were up 0.39%, indicating an open 97 points higher, while Nasdaq futures are up 0.11%, indicating an open 8 points higher, and S&P futures are up 0.2%, indicating an open 6 points higher.
World markets were also positive. In Asia, the Shanghai Composite jumped 1.61%, while the Hang Seng rose 1.44% and the Nikkei gained 0.51%.
In Europe, the DAX in German led the way, rising 1.33%, while the FTSE 100 gained 0.79% and the CAC 40 rose 0.81%.