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.