UTX Raises Profit Forecast After Raytheon Merger

UTX Raises Profit Forecast After Raytheon Merger

Adviser Investments Senior Vice President Chris Keith has the market analysis for Tuesday, July 23. For the second consecutive day, all major U.S. stock indexes increased with the Dow Jones Industrial Average and S&P 500 up 0.7% and the NASDAQ Composite rising 0.6%. Existing home sales came in below expectations—while still elevated at 5.27 million annualized, record high prices are leaving would-be buyers on the sidelines. United Technologies Corporation released its first earnings report since the Raytheon merger. Since then, UTX increased their profit forecast and the stock was up about 1.5% on the day.

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