UnitedHealth, PNC, Charles Schwab, and More

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UnitedHealth, PNC, Charles Schwab, and More

Key Takeaways

  • The Dow reached a record high in intraday trading Tuesday following several better-than-expected earnings reports.
  • UnitedHealth Group led gains on the Dow after the health insurance provider beat profit forecasts.
  • PNC shares also rose as the bank reported results that exceeded estimates.

The Dow climbed to a record high in intraday trading Tuesday following several better-than-expected earnings reports, while the S&P 500 also gained, and the Nasdaq was slightly lower.

UnitedHealth Group ( UNH ) led gains on the Dow after the health insurance provider beat profit forecasts as it posted higher revenue from its Optum health care unit.

Shares of PNC Financial Services Group ( PNC ) also rose as the bank reported results that exceeded forecasts and gave a stronger full-year outlook for net interest income (NII) .

Match Group ( MTCH ) shares took off after it was revealed activist investor Starboard Value has taken a 6.6% stake in the operator of online dating services, and is calling for the company to explore a sale.

Shares of firms in the housing sector, including Pultegroup ( PHM ), Builders FirstSource ( BLDR ), and Home Depot ( HD ), advanced amid rising optimism the Federal Reserve will cut interest rates this year, boosting home sales.

Charles Schwab ( SCHW ) shares tumbled as the investment and stock trading provider said it would have to downsize to maintain profitability.

The price of gold rose to a record high, while oil futures fell. The yield on the 10-year Treasury note declined. The dollar was up on the euro, pound, and yen. Most major cryptocurrencies traded higher.

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