"We're dealing with supply chain challenges because of the unique situation that we're in right now, where we've unleashed a lot of demand before businesses were really ready for it. The latest quarterly results, guidance and executive commentary from the broad array of companies still left to report are set to help illustrate the extent of how labor shortages, increasing input costs and lingering pandemic-related concerns have weighed on companies – and whether some firms have managed to more nimbly navigate this confluence of challenges. P&G said it expected to see $2.3 billion in after-tax expenses during the current fiscal year due to rising commodity and freight costs.Ĭompanies including Netflix ( NFLX) and United Airlines ( UAL) are set to report results after market close. The S&P 500 rose for a fifth straight session, marking its longest winning streak since August.Ĭonsumer giant Procter & Gamble ( PG) was also among the major companies to post estimates-topping quarterly results Tuesday morning, though the stock fell as the company also flagged the impact of rising materials and shipping prices. Component stocks including The Travelers Companies ( TRV) and Johnson & Johnson ( JNJ) rose after posting stronger-than-expected earnings results, helping fuel the jump in the 30-stock index.
The Dow gained nearly 200 points, or 0.6%, by the end of the trading day. Stocks advanced on Tuesday as investors digested a slew of new earnings results that topped Wall Street's expectations, suggesting more companies were able to work through ongoing supply chain challenges and still generate solid profits.
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