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Wall Street rises ahead of State of the Union

Video Credit: Reuters Studio - Duration: 01:21s - Published < > Embed
Wall Street rises ahead of State of the Union

Wall Street rises ahead of State of the Union

U.S. stocks rose on Tuesday as largely upbeat corporate results fueled investor optimism ahead of the highly awaited State of the Union address by President Donald Trump.

Fred Katayama reports.

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Wall Street rises ahead of State of the Union

Make it five in a row for the S&P 500.

It extended its winning streak, boosted by consumer discretionary and tech stocks.

Investors were in a buying mood ahead of President Donald Trump's State of the Union address.

Fi Plan Partners president Greg Powell: SOUNDBITE: FI PLAN PARTNERS PRESIDENT GREG POWELL, (ENGLISH) SAYING: "From the standpoint, there's a lot of anticipation about tonight with the State of the Union.

You know, some people are thinking that infrastructure stocks could do well.

Another one that they're watching out for is biotechs, pharmaceuticals.

Both Democrats and the President have talked about those prices may be too high on drugs." Disney shares popped higher after hours.

The mouse house's quarterly profit crushed analysts' estimates.

HIgh customer spending at its domestic theme parks and resorts and its media network business beefed up the bottom line.

Earlier during the regular trading hours, investors found Estee Lauder shares attractive, driving them sharply higher.

The cosmetics maker raised its annual forecast.

Shares of Ralph Lauren bolsted higher.

The luxury fashion group swing to a quarterly profit from a loss, and its rising revenue beat estimates.

Alphabet shares fell.

Investors grew concerned over the 26 percent increase in costs and expenses incurred by Google's parent company.

Major European markets rose more than one-and-a-half percent.

Consumer and energy stocks led the advance.




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