A batch of strong results from leading US companies including Ford Motor, UPS and 3M helped push the S&P 500 index to its highest level since June 2008 in a sign of rising market confidence in spite of concerns about the world economy.
Ford, the second-largest US car company by revenues, reported its highest quarterly profit for the period in 13 years, in the latest sign of the revival in US manufacturing.
UPS, the logistics company, and 3M, the diversified manufacturer, raised their guidance for full-year earnings after first-quarter profits beat analysts’ expectations. Lockheed Martin, the defence contractor, also raised its full-year projection.
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