Paychex, CarMax Earnings Reveal the Stock Market's Tug-of-War
Stock market indexes kept moving higher Wednesday, maintaining momentum from Tuesday's healthy bounce. Investors remain concerned about ongoing threats like the COVID-19 pandemic and inflation, but they've been willing to see how things play out before jumping to bearish conclusions. As of 2 p.m. ET, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 171 points to 35,664. The S&P 500 (SNPINDEX: ^GSPC) climbed 27 points to 4,676, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up 80 points to 15,421.
A couple of popular stocks released their latest earnings results, and what they said sheds some light on what's happening with the broader economy. In many ways, investors are in the middle of a tug-of-war between bullish macroeconomic trends and potential unforeseen obstacles to future growth. Below, you'll learn what Paychex (NASDAQ: PAYX) and CarMax (NYSE: KMX) said about their quarterly performance and what means for the broader market.
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Source Fool.com
