Major US stock indexes rose slightly, as the rise in shares of Boeing (BA) and Caterpillar (CAT) outweighed the fall in Texas Instruments (TXN).

Shares of Boeing (BA) jumped more than 1% after the company confirmed that it continues to expect regulators to approve the return of its 737 MAX aircraft in the fourth quarter, although most airlines removed them from the schedule before the start of 2020. This was enough to compensate for weak reporting. The aircraft manufacturer reported that in the third quarter it earned $ 1.45 per share, which was significantly lower than Wall Street's estimate of 2.12 per share. The company's revenue fell by more than 20% YoY, as analysts had predicted.

Caterpillar (CAT) reported adjusted quarterly earnings of $ 2.66 per share, which was below the analysts' average forecast of $ 2.90. The heavy equipment manufacturer's revenue also fell short of expectations, and Caterpillar cut its forecasts for the whole of 2019, citing weak demand for construction and mining equipment. However, CAT shares rose 1.23%.

Pressure on the market was provided by shares of chip maker Texas Instruments (TXN), whose value fell 7.48% after posting disappointing third quarter results and a forecast for the current quarter.

Despite the weak results of Caterpillar (CAT) and Texas Instruments (TXN), the third quarter corporate reporting season far exceeded analyst expectations. According to FactSet, of the 118 S&P 500 companies that have already reported, 81% have exceeded expectations. After the close of the trading session, quarterly reports of Ford Motor (F), Microsoft (MSFT) and Tesla (TSLA) are expected to be published.

Most DOW components recorded an increase (19 out of 30). The biggest gainers were Merck & Co., Inc. (MRK; + 1.93%). Outsiders were shares of NIKE Inc. (NKE; -3.45%).

Almost all S&P sectors completed trading in positive territory. The raw materials sector grew the most (+ 0.8%). Only the services sector decreased (-0.1%).

At the time of closing:

Dow 26,833.95 +45.85 + 0.17%

S&P 500 3,004.52 +8.53 +0.28%

Nasdaq 100 8,119.79 +15.50 +0.19%

U.S. stock-index futures were flat on Wednesday as investors assessed earnings reports from Caterpillar (CAT) and Boeing (BA).

Global Stocks:

(company / ticker / price / change ($/%) / volume)

Coca-Cola (KO) upgraded to Buy from Neutral at UBS; target raised to $63

Freeport-McMoRan (FCX) reported Q3 FY 2019 earnings of $0.01 per share (versus $0.35 in Q3 FY 2018), beating analysts’ consensus estimate of $0.00.

The company’s quarterly revenues amounted to $3.308 bln (-32.6% y/y), missing analysts’ consensus estimate of $3.494 bln.

FCX fell to $9.75 (-1.81%) in pre-market trading.

Caterpillar (CAT) reported Q3 FY 2019 earnings of $2.66 per share (versus $2.86 in Q3 FY 2018), missing analysts’ consensus estimate of $2.90.

The company’s quarterly revenues amounted to $12.758 bln (-5.6% y/y), missing analysts’ consensus estimate of $13.488 bln.

The company also lowered FY 2019 EPS guidance to $10.90-11.40 from the low end of $12.06-13.06 (versus analysts’ consensus estimate of $11.65) and modestly lowered FY 2019 revenues guidance from $54.7 bln (versus analysts’ consensus estimate of $55.72 bln).

CAT rose to $134.36 (+0.50%) in pre-market trading.

Snap (SNAP) reported Q3 FY 2019 loss of $0.04 per share (versus -0$12. in Q3 FY 2018), slightly better than analysts’ consensus estimate of -$0.05.

The company’s quarterly revenues amounted to $0.446 bln (+49.9% y/y), beating analysts’ consensus estimate of $0.436 bln.

The company’s DAUs were 210 mln in Q3 FY 2019, compared to 203 mln in Q2 FY 2019 and 186 mln in Q3 FY 2018 and versus guidance for 205-207 mln.

SNAP rose to $14.39 (+2.79%) in pre-market trading.