GM Beats Earnings Expectations as Markets Extend Gains Despite Iran Tensions

(WS News) – General Motors shares rose in premarket trading on Tuesday after the automaker beat Wall Street’s second-quarter earnings expectations and raised its full-year outlook, helping lift broader markets even as investors kept a wary eye on the ongoing conflict between the United States and Iran.

GM climbed roughly 2 percent after topping profit forecasts and lifting its guidance for adjusted earnings and free cash flow for the year. The results came at the start of a heavy day of corporate reporting, with 3M, Danaher, Halliburton, Northrop Grumman, Novartis and Charles Schwab among the companies also posting results before the opening bell.

The broader market extended gains from the previous session, with the Nasdaq Composite jumping more than 1 percent as semiconductor names led the advance ahead of a busy week of Big Tech earnings. The Dow Jones Industrial Average and S&P 500 also moved higher, building on Monday’s rally even as fresh US airstrikes on Iran continued and oil prices ticked up.

Elsewhere in corporate news, Domino’s, AMC Entertainment, Alphabet and Ryanair parent Ryanair Holdings were among the names drawing investor attention, with AMC shares surging nearly 27 percent after the theater chain posted second-quarter earnings that far exceeded analyst estimates. Markets are now looking toward a string of results from technology heavyweights later in the week to gauge whether corporate profits can offset the drag from elevated geopolitical risk.