Wall Street surges to close higher, powered by upbeat earnings, guidance

NEW YORK, Oct 24 - Wall 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 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."

Verizon surged after raising its annual free cash flow forecast, while General Electric rose after the conglomerate lifted its full-year profit forecast. On Thursday, the Commerce Department is due to release its first take on third quarter GDP, which is seen showing a robust acceleration to 4.3% from 2.1% in the second quarter.

South Africa South Africa Latest News, South Africa South Africa Headlines

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

10-yr Treasury yield passes 5%, stocks at seven-month lowsKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Wall St opens lower as 10-yr yield hits 5%; Big Tech earnings in focusKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »