The Dow and S&P indexes rose on Tuesday as earnings at BP Plc lifted energy shares, but results at Chinese Internet search giant Baidu.com (BIDU) and weaker-than expected consumer confidence data pushed the Nasdaq lower.
BP reported third-quarter earnings that beat expectations, helped by cost cuts, sending the stock up 4.6 percent to $58.04 on the New York Stock Exchange. The results lifted other energy companies, with Dow components Exxon Mobil Corp (XOM) up 2 percent to $74.72 and Chevron Corp (CVX) adding 2.1 percent to $77.02.
The Conference Board’s index of consumer confidence fell to 47.7 in October, weaker than the consensus expectation of a reading of 53.1. Confidence was pressured on growing concerns job market conditions would worsen in the near term.
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