Better company earnings drive US stocks higher

Better company earnings drive US stocks higher

US stocks closed mostly higher, but a slump in oil prices and a slide in Disney held the market’s gains back.

Better earnings reports from companies drove the modest gains on Wednesday.

Priceline Group jumped 5% after reporting profit and revenue that easily beat analysts’ forecasts.

First Solar soared 17% after releasing solid earnings.

Disney slumped after cutting its forecast for TV revenue, holding back the Dow Jones industrial average.

The Dow edged down 10 points, less than 0.1%, to close at 17,540. The Standard & Poor’s 500 index gained six points, or 0.3%, to 2,099. The Nasdaq composite increased 34 points, or 0.7%, to 5,139.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.27%.


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