Upbeat earnings lifted the markets to a higher open with the Dow soaring 125 points to 21,638. Nasdaq slipped 3 points to 6,407.
On the upside
Freeport-McMoRan (NYSE: FCX) reversed year ago losses to post a profit for the second quarter.
Genocea Biosciences (Nasdaq: GNCA) reported positive top-line 12-month data for a Phase 2b clinical trial of it genital herpes treatment GEN-003.
AK Steel (NYSE: AKS) reported sharply higher earnings for the second quarter.
On the downside
Wabtec (NYSE: WAB) disappointed with lower second quarter earnings that fell short of expectations.
Second quarter earnings and revenue for Interpublic Group (NYSE: IPG) fell to miss expectations.
Seagate Technology (Nasdaq: STX) reported higher fourth quarter earnings but the results fell far short of analyst expectations.
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 gained 8 points to 2,477. Bitcoin plummeted $137 to $2567.
