Source: Investing.com Report
Stocks surged on Tu 15-10-19 as the first big day of earnings delighted investors, but the rally faded a bit toward the close as profit-taking set in.
The S&P 500 finished up 1% and even topped 3,000 several times during the day.
Selling resistance at that level, however, kept pushing the index back, and it finished below 3,000 for an 18th-straight day.
Nasdaq Composite jumped 1.24% with big gains in chip stocks.
The Dow, powered by gains in UnitedHealth Group (NYSE:UNH), JPMorgan Chase (NYSE:JPM) and Johnson & Johnson (NYSE:JNJ), closed up 0.89%, about 257 points. The blue-chip index had been up as many as 333 points earlier in the session.
UnitedHealth (NYSE:UNH), JPMorgan (NYSE:JPM) and J&J all reported strong earnings and went higher.
Chip stocks were higher on hopes a trade deal with China will come through.
Reports of a possible Brexit deal in Europe added to the good feelings.
Even Wells Fargo (NYSE:WFC) went good, saying it expects to show a gain in net interest income in the future. And set aside $1.6 billion for expenses relating to its fake deposit account scandal.
Interest rates moved higher as investors looked for better profits in stocks.
Just, oil prices and gold moved lower.
No comments:
Post a Comment