As corporate earnings continue to exceed projections, US markets increased on Tuesday morning.
In response to first-quarter earnings, the stock of companies like Morgan Stanley and Bank of America increased.
Tuesday morning saw a rise in stock indices as traders attempted to recoup a run of losses after reporting strongly on corporate results.
Pre-market trading saw a sharp increase in the shares of companies like UnitedHealth, Morgan Stanley, and Bank of America due to better-than-expected first-quarter results.
According to FactSet, almost 80% of companies have surpassed earnings projections thus far.
According to Bryan Reilly, portfolio manager at CIBC Private Wealth US, "many corporations anticipated weak first quarter earnings relative to the balance of the year, but we feel those earlier guides were overly conservative and earnings will beat expectations handily as the first quarter earnings season progresses."
These findings are assisting in restoring investor confidence, which has been shaken in recent days by geopolitics or the possibility of a postponed interest rate change. Tuesday's increase in Treasury yields suggests that these worries haven't completely subsided. The yield on the 10-year Treasury increased by five basis points to 4.686%.
