Wall Street close higher, powered by upbeat earnings, guidance

Third-quarter earnings season has shifted into high gear, and this week nearly a third of the companies in the S&P 500 are expected to post results. – AFPpicWall Street ended higher on Tuesday as a spate of solid corporate earnings and upbeat forecasts stoked investor risk appetite and sparked a broad rally.

The Dow Jones Industrial Average rose 204.97 points, or 0.62%, to 33,141.38, the S&P 500 gained 30.64 points, or 0.73%, to 4,247.68 and the Nasdaq Composite added 121.55 points, or 0.93%, to 13,139.88. “The earnings season is only now just getting into full swing with a third of the companies reporting this week,” said Thomas Martin, senior portfolio manager at Globalt in Atlanta. “Prior to yesterday and today, the earnings reports were a bit on the disappointing side, and so this was the first couple of days we’ve had some more upbeat and better earnings.”

Of the 11 major sectors in the S&P 500, utilities enjoyed the largest gain, while energy was the sole loser, weighed down by softening crude prices.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wall Street ends mixed as Treasury yields ease, focus turns to earningsNEW YORK: US stocks wavered to a mixed close on Monday (Oct 23) as benchmark US Treasury yields backed down from 5% and investors shifted their focus ...
Source: theSundaily - 🏆 25. / 51 Read more »

Wall Street ends mixed as Treasury yields ease, focus turns to earningsNEW YORK, Oct 24 ― US stocks wavered to a mixed close yesterday as benchmark US Treasury yields backed down from 5 per cent and investors shifted their focus to this...
Source: malaymail - 🏆 1. / 86 Read more »