Economics
Strong U.S. Earnings Reports Push Dow to New High: Markets Wrap
- Dollar edges higher as 10-Year Treasury yield breaches 2.4%
- Criticism of Trump by GOP senators muddies tax-cut picture
GM's Stevens: Passenger Cars Are Still Important
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Encouraging earnings reports from U.S. manufacturers pushed the Dow Jones Industrial Average to a new high, while criticism of President Donald Trump from members of his own party complicated the prospects for a tax overhaul.
Caterpillar Inc. and 3M Co. delivered results that topped estimates, while General Motors Co. and Fiat Chrysler NV also rallied on earnings Tuesday. Benchmark Treasury yields broke through the key 2.4 percent level, while Bloomberg’s dollar index reached the highest point since July.