Stock market today: Live updates

The Dow Jones Industrial Average jumped Tuesday, boosted by strong earnings reports from companies such as Coca-Cola and 3M.

The 30-stock index gained 368 points, or 0.8%.The S&P 500 rose 0.1%, while the Nasdaq Composite dropped 0.2%.

Coca-Cola and 3M led the Dow higher after their latest releases surpassed Wall Street’s estimates, with the two jumping 3% and 5%, respectively. Fellow old economy stock General Motors soared 15% after it hiked its guidance for the full year and topped estimates. The Detroit automaker also lowered its estimated impact from President Donald Trump’s tariffs for the year, saying that it expects to offset about 35% of that hit.

Meanwhile, other names like Zions Bancorp were 2% higher after the regional bank reported third-quarter profits that rose from a year ago, despite the disclosure of some bad loans late last week that sparked a broader market rout.

Investors are monitoring a crucial week ahead for third-quarter earnings, which are revving up with Netflix set to report after the bell Tuesday and Tesla due Wednesday. A strong start to the earnings season so far appears to be supporting the broader market rally, particularly amid an economic data blackout due to the government shutdown.

More than three-quarters of the S&P 500 companies that have posted results so far have beaten expectations, according to FactSet data. Major tech companies are expected to account for a dominant portion of profits as the artificial intelligence trade remains strong, with the “Magnificent Seven” companies expected to report year-over-year earnings growth of 14.9%, compared with 6.7% for the index’s remaining 493 companies, per FactSet.

“If the Mag Seven can deliver on elevated profit expectations … markets could see another leg higher. Market action on Friday and Monday might suggest investors are beginning to place their chips on Big Tech ahead of key profit reports next week,” said Ameriprise Financial chief market strategist Anthony Saglimbene. “Given elevated expectations and valuations, results from this group could influence broader market direction into year-end.”

“Profit outperformance, combined with stable outlooks and strong AI tailwinds, could be greeted favorably as we move through the earnings season, though some may argue stock prices already reflect these positives,” Saglimbene added.

Propping up sentiment is also the market’s anticipation of another quarter percentage point rate cut at the Federal Reserve’s late October meeting. Consumer price index data due Friday is expected to give clues on the state of inflation, which could influence the central bank’s upcoming decision.