Dow rises for a 7th day, gaining 300 points after better-than-expected earnings: Live updates
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Traders on the floor of the NYSE, July 17, 2023. Source: NYSE The Dow Jones Industrial Average was higher Tuesday as traders digested better-than-expected corporate earnings. The Dow added 335 points, or 1%, aided by a 4.4% jump in Microsoft . The Nasdaq Composite climbed 0.4%, while the S&P 500 gained 0.5%. The Dow was headed for a seventh straight day of gains. Bank of America reported better-than-expected earnings for the second quarter, thanks to higher interest rates . The bank stock added 4.7%. Bank of N.Y. Mellon's earnings also exceeded expectations, helping lift shares 5%. Morgan Stanley stock added 6.5% after a beat on both revenue and adjusted earnings per share thanks to record revenue in its wealth management segment. PNC Financial , added 1.2% on the back of mixed second-quarter numbers. J.B. Hunt is slated to report after the bell. Overall, the earnings season is off to a strong start. Of the S&P 500 that have reported, 84% exceeded profit