Dow Jones Up 270 Points After Coca-Cola, Johnson & Johnson, Verizon Announce Earnings
The Dow Jones Industrial Average (DJINDICES: ^DJI) is back on a winning streak, marking its second day of gains with a 270 point move higher at 3:39 p.m. EDT on July 21. Today's biggest gainer is oil and gas giant Chevron (NYSE: CVX), up 4% on a big surge in oil prices.
The biggest Dow news today is earnings from Coca-Cola (NYSE: KO), Johnson & Johnson (NYSE: JNJ), and Verizon Communications (NYSE: VZ), all of which reported their latest quarterly results before market open today. Let's take a closer look at what happened today with these Dow Jones stocks.
Both Brent and West Texas Intermediate crude futures rose sharply today, up more than 4% and climbing back above the $70 per barrel mark. This came as oil markets further digested the implications of the recent OPEC+ oil production deal, which should help stabilize global supply for the rest of 2021. Investors also had more time to process the threat of the Delta variant of the coronavirus to the economic recovery; more economists are taking the position that even with COVID-19 cases climbing again, it's more likely that economic growth will continue than we will return to the shutdowns that crashed the global economy a year ago.
Source Fool.com
