Dow Jones Rises Despite Rough Reports From Boeing and Visa
The stock market was broadly higher by early Wednesday afternoon, helped along by a flood of earnings reports. The Dow Jones Industrial Average (DJINDICES: ^DJI) was up 0.33% at 12:30 p.m. EDT, trailing the other major indices.
Negotiations over a new stimulus bill continued Wednesday, with President Donald Trump suggesting that Democrats and Republicans were nowhere close to striking a deal. With the supplemental federal unemployment benefit set to end this month, a failure to pass new stimulus measures soon could derail the economic recovery.
Contributing to the Dow's underperformance on Wednesday were Boeing (NYSE: BA) and Visa (NYSE: V). Boeing badly missed analyst estimates for its second-quarter results, and it announced new production cuts to cope with depressed demand for commercial airplanes. Visa's earnings report was more of a mixed bag, featuring a double-digit decline in payments volume.
Source Fool.com
