U.S. stocks rebounded Tuesday on positive corporate earnings news, after the Dow suffered the worst five-day losing streak since 2012.
The Dow Jones Industrial Average rose 0.57 percent by the close, while the S&P 500 and NASDAQ added 0.61 percent and 0.35 percent respectively, CNBC reports.
Ford Motor Company, homebuilder D.R. Horton and Pfizer were among the major American companies posting better-than-expected earnings today. “Earnings growth is not overwhelming, but enough to propel us forward,” said Chip Cobb, portfolio manager at BMT Asset Management.
The Dow Jones dropped 3.77 percent over the last five trading sessions, due in part to investor concerns over growth in emerging markets and the Federal Reserve’s monetary policy.