A crop of better-than-expected earnings reports drove stocks higher today, with the Dow Jones Industrial Average gaining 78 points, or 0.62%, while the S&P 500 increased 10 points for a 0.74% gain. The gains came despite what many considered a dissappointing first day of congressional testimony out of Ben Bernanke. His failure to hint at a more accommodative tone toward monetary stimulus weighed on markets initially, but the favorable earnings reports prevailed at the end of the day.
After the close, Dow component Intel (NAS: INTC) reported earnings of $0.54 relative to expectations of $0.52, but it also offered revenue guidance for the third quarter that was $300 million below expectations at the midpoint. Fellow tech giant IBM (NYS: IBM) reports earnings tomorrow, and in the following video, Brenton explains how its report has the potential to really move the market, specifically the Dow Jones Industrials.
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The article 1 Report That Could Really Move the Market originally appeared on Fool.com.
Brenton Flynn and The Motley Fool have no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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