U.S. stocks marched broadly higher on Wall Street Tuesday as several major companies reported solid second-quarter gains. The gains followed several stumbles last week, extending a period of volatility in July as investors weigh a looming rate cut by the Federal Reserve as well as uncertainties over trade and the economy. Nearly 150 companies in the S&P 500 will report their quarterly financial results through Friday. Analysts are expecting earnings to decline overall for the second quarter in a row. The S&P 500 index rose 20.44 points, or 0.7%, to 3,005.47. The Dow Jones industrial average rose 177.29 points, or 0.7%, to 27,349.19. The Nasdaq composite rose 47.27 points, or 0.6%, to 8,251.40.
Cause of N.D. oil-water spills still unknown
North Dakota health officials do not yet know what caused a pair of pipeline spills last week that leaked oilfield wastewater into a tributary of the Missouri River and over some pastureland. State Health Department environmental scientist Bill Suess said cleanup was ongoing Tuesday at the two sites where produced water — a byproduct of oil production that contains saltwater and oil, and sometimes chemicals from hydraulic fracturing operations — leaked. Polar Midstream LLC reported July 14 that 21,000 gallons of oilfield wastewater leaked from an underground pipeline and into an unnamed tributary of the Missouri River. Suess said investigators don’t think the spill reached the river, based on samples that were collected. The produced water in the tributary was being pumped out and “flushed” with fresh water, he said. The second spill leaked more than 12,000 gallons of oilfield wastewater, affecting an unknown amount of pastureland near Epping.
UPS is adding thousands of pickup points
United Parcel Service Inc. is responding to the growth in online shopping and pressures for speedy delivery by seeking to expand its drone deliveries and adding thousands of new spots where customers can pick up packages. The Atlanta-based package delivery giant said Tuesday it is adding 12,000 new package pickup locations inside CVS, the Michaels Co. and Advance Auto Parts stores. The new locations will bring to 21,000 the number of pickup points UPS has in the U.S. and to 40,000 globally. The company also announced that starting Jan. 1 it will offer pickup and delivery services seven days a week, adding service on Sundays. It said it is setting up a subsidiary that will focus on expanding its drone-delivery operations, limited now to delivering medical samples at a group of hospitals in Raleigh, N.C.