U.S. stock indexes were trading at record highs Thursday as investors weighed earnings from Kellogg, Viacom and other companies. Financial stocks led the gainers. Energy stocks also rose as the price of crude oil headed higher. Utilities were the only laggard.
The Dow Jones industrial average climbed 137 points, or 0.7%, to 20,191 as of 11:27 a.m. Eastern time. The Standard & Poor's 500 index rose 14 points, or 0.6%, to 2,309. The Nasdaq composite index advanced 36 points, or 0.6%, to 5,718. All three indexes were trading above their latest record-high closes.
THE QUOTE: “The earnings season is turning out to be pretty good,” said Phil Blancato, chief executive of Ladenburg Thalmann Asset Management. “We're starting to see some real earnings growth.”
STOP THE PRESSES: Gannett jumped 8.3% to $9.42 after the publisher of USA Today and other newspapers turned in better-than-expected earnings.
TUNED IN: Traders welcomed Viacom's latest quarterly results and the media giant's plans to turn its business around. The owner of BET, Comedy Central, MTV, Nickelodeon and the Paramount film studio gained $1.91, or 4.5%, at $43.98.
Read more: Viacom's new CEO unveils his new strategy as earnings fall »
TASTY RESULTS: Kellogg rose 3.8% to $76.27 after the company served up earnings that beat Wall Street's expectations.
YUM, INDEED: Restaurant operator Yum Brands was up 1.8% to $67.81 after it delivered better-than-expected earnings as stronger U.S. sales at KFC and Taco Bell offset weakness at the company's Pizza Hut chain.
GOOD BREW: Dunkin' Brands climbed 6.2% to $55.19 after its earnings beat financial analysts' expectations.
TWEET THIS: Twitter slumped 9.1% to $17.01 after the social media company's latest quarterly earnings, which topped analyst expectations, were overshadowed by a weak profit forecast.
Read more: Twitter shares dive as the company struggles to turn headlines into cash »
FIZZLED: Coca-Cola fell 2.1% to $41.15 after its profit fell 55% in the most recent quarter.
UNSIGHTLY RESULTS: Coty tumbled 8.8% to $18.28 after the beauty products maker's latest quarterly results fell short of Wall Street's estimates.
MARKETS OVERSEAS: Germany's DAX was up 0.8%, and France's CAC 40 jumped 1.2%. Britain's FTSE 100 was up 0.5%. Japan's Nikkei 225 stock index slid 0.5% ahead of meetings Friday between Prime Minister Shinzo Abe and U.S. President Trump. Most other regional benchmarks notched gains. Hong Kong's Hang Seng index rose 0.2%, while the Kospi in South Korea was almost flat. Australia's S&P ASX/200 rose 0.2%.
OIL & GAS: Benchmark U.S. crude was up 52 cents, or 1%, at $52.86 a barrel in New York. Brent crude, the benchmark for international oil prices, was up 36 cents, or 0.7%, at $55.48 a barrel in London. Natural gas futures were up 1 cent, or 0.4%, at $3.14 per 1,000 cubic feet.
CURRENCIES: The dollar rose to 112.97 yen from 112.05 yen. The euro fell to $1.0670 from $1.0687.
TREASURY YIELDS: Bond prices fell. The 10-year Treasury yield rose to 2.38% from 2.34%.
After an unusually bitter confirmation battle, Jeff Sessions was confirmed as U.S. attorney general. L.A.'s City Council agreed to pay $1.5-million to the family of Ezell Ford. Welcome to the new Ikea. ICYMI: It's huge! California's emergency drought rules will be staying in place -- at least for the near future.
After an unusually bitter confirmation battle, Jeff Sessions was confirmed as U.S. attorney general. L.A.'s City Council agreed to pay $1.5-million to the family of Ezell Ford. Welcome to the new Ikea. ICYMI: It's huge! California's emergency drought rules will be staying in place -- at least for the near future.
After an unusually bitter confirmation battle, Jeff Sessions was confirmed as U.S. attorney general. L.A.'s City Council agreed to pay $1.5-million to the family of Ezell Ford. Welcome to the new Ikea. ICYMI: It's huge! California's emergency drought rules will be staying in place -- at least for the near future.
After an unusually bitter confirmation battle, Jeff Sessions was confirmed as U.S. attorney general. L.A.'s City Council agreed to pay $1.5-million to the family of Ezell Ford. Welcome to the new Ikea. ICYMI: It's huge! California's emergency drought rules will be staying in place -- at least for the near future.
We sent our curiosity correspondent, Benjamin Crutcher, to the largest Ikea in the United States to see what it is like in person. Read more >>
We sent our curiosity correspondent, Benjamin Crutcher, to the largest Ikea in the United States to see what it is like in person. Read more >>
Sophomore LaMelo Ball of Chino Hills scored 92 points Tuesday night in a 146-123 victory over visiting Los Osos.
Sophomore LaMelo Ball of Chino Hills scored 92 points Tuesday night in a 146-123 victory over visiting Los Osos.
Ford's killing after a scuffle with two officers in South L.A. added to the national outcry over police killings.
Ford's killing after a scuffle with two officers in South L.A. added to the national outcry over police killings.
The Lucerne Valley Mustangs refuse to quit, a week in the life of P‑22, Senate rebukes Elizabeth Warren, and judges sharply question attorneys for both sides on Trump's travel ban.
The Lucerne Valley Mustangs refuse to quit, a week in the life of P‑22, Senate rebukes Elizabeth Warren, and judges sharply question attorneys for both sides on Trump's travel ban.
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