04:00 PM EDT, 10/22/2024 (MT Newswires) -- US benchmark equity indexes ended higher Tuesday as markets assessed the latest corporate results, while the International Monetary Fund upgraded its 2024 US economic growth outlook.

* The IMF said the upgraded US economic growth outlook for this year is due to "stronger outturns" in consumption and nonresidential investment.

* Global headline inflation is expected to reach 3.5% in Q4 next year, slightly below the average during the two decades prior to the coronavirus pandemic. There are signs indicating the battle against price growth "has largely been won," IMF Economic Counsellor Pierre-Olivier Gourinchas said in a blog post.

* Redbook reported that US same-store retail sales were up 4.6% year over year in the week ended Oct. 19, slower than a 5.6% gain in the prior week due to holiday promotions such as Amazon Prime Days following the Columbus Day holiday.

* November West Texas Intermediate crude oil closed up $1.53 to settle at $72.09 per barrel, while December Brent crude, the global benchmark, was last seen up $1.71 to $76.00 after China took further steps to stimulate its flagging economy, while the Biden Administration makes another push for a ceasefire in the Middle East.

* General Motors ( GM ) logged bigger-than-expected gains in Q3 results and lifted the mid-point of its 2024 earnings guidance. The automaker's shares were up 10%.

* Genuine Parts ( GPC ) shares sank nearly 20% as the company cut its full-year adjusted earnings outlook following a Q3 miss.