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Overnight Markets: Wall Street ends mostly higher ahead of big-name earnings

Overnight Markets: Wall Street ends mostly higher ahead of big-name earnings

Wall Street ended mostly stronger on Monday with the biggest gains in the energy sector and as investors face a big week for corporate quarterly results.

The Dow Jones Industrial Average declined 49 points, or 0.18%, to 26,511, the S&P 500 rose three points, or 0.10%, to 2,908 and the Nasdaq Composite added 17 points, or 0.22%, to 8,015.

Investors were waiting for some of the biggest S&P 500 companies, including Boeing Co, Amazon.com Inc and Facebook Inc to report first-quarter results later in the week.

Trading volume was also muted by the fact that some investors were still on vacation after Friday’s US market holiday.

The S&P energy index surged 2.1% in its biggest one-day percentage gain since January, as oil prices surged on the US’ move to further clampdown on Iranian oil exports, tightening global supplies.

But seven of the 11 major S&P sectors ended the day lower, led by a 1% drop in the real estate index.

Kimberly-Clark Corp rose 5.4%, touching a near two-year high, after the consumer products maker reported better-than-expected earnings.

Intuitive Surgical Inc fell 7% and was the biggest drag on the S&P 500 after the surgical robotics maker’s quarterly profit missed analysts’ estimates.

The PHLX Housing index fell 0.97% after data showed US home sales fell more than expected in March, pointing to continued weakness in the housing market.

Shares of Boeing Co. shed 1.3% amid reports on concerns of lax safety tied to the production of the aircraft maker’s 787 Dreamliner.

Shares of Tesla Inc. fell 3.9% as the electric-car maker launched an investigation on a video from Shanghai that appeared to show a parked Tesla auto catching fire.

Halliburton Co. shares reversed direction to fall 0.1% after the company reported earnings and revenue declines that were better than Wall Street had been expecting.

In Asia, shares mostly gained on Tuesday in morning session as the US earnings season kicks into high gear.

The Nikkei 225 in Japan erased earlier gains to decline 0.23%, while the Topix index rose 0.03%. Meanwhile, South Korea’s Kospi advanced 0.08%. Australia’s ASX 200, which was closed on Monday for a holiday, also gained 0.77%.

In China, the Shanghai Composite Index fell 0.03%, while Hong Kong’s Hang Seng Index declined 0.13%.

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