Johnson & Johnson led the Dow Jones industrial average higher on Tuesday. The health-care heavyweight rose 3 percent after reporting earnings that beat Wall Street’s expectations. The company also raised its full-year earnings forecast.
A warning from Standard & Poor’s that the agency might lower its rating on U.S. government debt sent stocks on their steepest slide in a month Monday.
Stocks are edging higher in midday trading at the start of the last full week before the next round of corporate earnings reports begin.
Stocks plunged Tuesday and bond prices rose as the nuclear crisis in Japan intensified following a deadly earthquake and tsunami. The Dow Jones industrial average fell more than 150 points.
Mounting concerns over the impact of the massive earthquake in Japan are pushing stocks lower in midday trading. The earthquake and tsunami along Japan’s northeast coast killed thousands and has raised fears of a slowdown in the world’s third-largest economy.