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Dow’s earnings reporters shave a net 37 points on the price of the index

Reporters’ earnings weigh on the Dow Jones Industrial Average DJIA,
-0.47%
Tuesday, as the net effect of the premarket share is declining, it will shave about 37 points off the price of the index. Four Dow components reported Q2 results before Tuesday’s opening, with Pfizer Inc.’s PFE shares,
+ 2.37%
a 2.7% increase to accelerate Dow’s earnings, followed by the 1.5% rally in Raytheon Technologies Corp. RTX,
-1.34%
shares, after both companies exceeded earnings and sales expectations. The combined implicit price gains would add about 13 points to the Dow’s price, while Dow YM00 is due,
-0.49%
sank 103 points, or 0.4%. Meanwhile, shares of 3M Co. MMM,
-4.50%
fell 2.6% to the early losers of Dow and McDonald’s Corp. Accelerate MCD,
-1.57%
was next, down 1.5% after both companies reported earnings changes. The combined implicit price drop would shave about 50 points off Dow’s price.

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