2023-04-25 08:57:11 ET
The stock market has posted a solid advance so far in 2023, even though investors have generally remained downbeat about the immediate prospects for economic growth. Despite calls for a possible recession, the Dow Jones Industrial Average (DJINDICES: ^DJI) has recovered from losses in early March and is now up 2% for the year. Many of its 30 stock components have fared even better.
The Dow looked as though it would fall along with the rest of the market on Tuesday morning, based on early trading in stock index futures. However, Dow components McDonald's (NYSE: MCD) and 3M (NYSE: MMM) released their latest financial results early Tuesday, and investors in those two stocks seemed more optimistic about the future prospects for their respective companies. Below, you'll learn more about what McDonald's and 3M said and what it means for the Dow Jones Industrials more broadly.
Shares of McDonald's were up about 1% in premarket trading. The fast-food pioneer released first-quarter financial results that proved just how much pricing power it has in fighting against inflationary pressures.
For further details see:
These 2 Dow Stocks Are on the Rise Tuesday Morning