Stocks Boosted by Corporate Earnings
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iStock/Thinkstock(NEW YORK) — Wall Street stocks ended mostly higher Wednesday, following corporate earnings reports that provided a boost for investors.
The Dow Jones Industrial Average lost 27 points to finish the day at 17086.63, the Nasdaq Composite gained 18 points at 4473.70, and the S&P 500 added 4 points, ending at 1987.01.
Aircraft maker Boeing reported numbers that fell short of expectations before the opening bell, while social networking giant Facebook released its second quarter earnings after the close, with numbers better than anticipated.
General Motors announced another round of recalls, citing 700,000 vehicles for a number of safety issues. German-based Mercedes-Benz maker Daimler had better news, announcing an increase of 12 percent in second quarter profits.
“Our strategy is paying off,” Daimler AG CEO Dieter Zetsche said on a conference call. “We’re growing and, what’s more, we’re growing profitably.”
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