US close: Markets end month in the green
Shares on Wall Street recorded gains by the close on Wednesday, with the last day of what had been a tumultuous month for global stocks helped along by strong performances from the likes of Facebook and General Motors.
Dow Jones I.A.
38,460.92
04:30 15/10/20
Nasdaq 100
17,526.80
12:15 24/04/24
The Dow Jones Industrial Average was up 0.97% at 25,115.76, the S&P 500 added 1.09% to 2,711.74, and the Nasdaq 100 finished 2.31% higher at 6,967.10.
“The final day of the month is shaping up to be a treat for investors following what has been an otherwise shocking month for stock markets,” said Oanda analyst Craig Erlam.
“Positive momentum has been gathering throughout the Asian and European sessions in what investors will be hoping is a sign that the worst of the sell-off is behind us.
“October has truly lived up to its reputation this year, with the major indices in the US wiping off all gains for the year and entering correction territory along the way.”
Data out earlier from the ADP showed that private sector employment in the US rose more than expected in October.
Employers added 227,000 jobs versus expectations for a smaller increase of 189,000, while September's total was revised down to 218,000 from 230,000.
Small businesses with fewer than 50 employees added 29,000 jobs, while medium businesses with between 50 and 499 employees created an extra 96,000 jobs.
Large companies with 500 or more employees recruited an extra 102,000 people.
“The job market bounced back strongly last month despite being hit by back-to-back hurricanes,” said Mark Zandi, chief economist at Moody's Analytics.
“Testimonial to the robust employment picture is the broad-based gains in jobs across industries.
“The only blemish is the struggles small businesses are having filling open job positions.”
Elsewhere, economic activity in the Chicago area deteriorated a little more than expected in October, according to figures released on Wednesday.
The MNI Chicago business barometer fell to 58.4 from 60.4 in September, missing expectations for a smaller drop to 60.0 and marking the lowest reading since April.
It was still well above the 50 mark that separates contraction from expansion.
MNI said the drop was due to a fall in order book growth and unfinished orders, which offset a rise in output, delivery times and employment.
On the year, the barometer was down 10.7%, the biggest year-over-year fall since December 2015.
In corporate news, Facebook was 3.81% higher, having initially moved lower after its earnings late on Tuesday.
General Motors surged 9.13% after it posted a 25% increase in third-quarter operating profit as it sold more expensive trucks and sport-utility vehicles in the US.
Yum! Brands racked up gains of 4.57% after the KFC, Pizza Hut and Taco Bell owner's third-quarter revenue and profit beat analysts' expectations.
Wireless carrier Sprint improved 7.37% as its quarterly earnings and revenue topped expectations, while Kellogg slumped 8.88% following the release of its third-quarter numbers.
Dow Jones - Risers
Boeing Co. (BA) $354.86 5.74%
Visa Inc. (V) $137.85 3.83%
Caterpillar Inc. (CAT) $121.32 3.34%
Microsoft Corp. (MSFT) $106.81 2.97%
Goldman Sachs Group Inc. (GS) $225.37 2.79%
Cisco Systems Inc. (CSCO) $45.75 2.62%
Apple Inc. (AAPL) $218.86 2.61%
Dowdupont Inc. (DWDP) $53.90 2.45%
JP Morgan Chase & Co. (JPM) $109.02 2.17%
American Express Co. (AXP) $102.73 1.52%
Dow Jones - Fallers
Walmart Inc. (WMT) $100.26 -2.09%
Verizon Communications Inc. (VZ) $57.09 -1.87%
Intel Corp. (INTC) $46.88 -1.84%
McDonald's Corp. (MCD) $176.97 -0.89%
Travelers Company Inc. (TRV) $125.13 -0.59%
Procter & Gamble Co. (PG) $88.69 -0.57%
Johnson & Johnson (JNJ) $139.99 -0.54%
Home Depot Inc. (HD) $175.88 -0.20%
International Business Machines Corp. (IBM) $115.43 0.03%
Walt Disney Co. (DIS) $114.83 0.07%
S&P 500 - Risers
Molson Coors Brewing Co. Class B (TAP) $64.00 9.95%
Chesapeake Energy Corp. (CHK) $3.50 7.58%
Varian Medical Systems Inc. (VAR) $119.37 6.38%
Intuitive Surgical Inc. (ISRG) $521.18 6.19%
eBay Inc. (EBAY) $29.03 5.87%
Boeing Co. (BA) $354.86 5.74%
Keurig Dr Pepper Inc. (KDP) $26.00 5.73%
Netflix Inc. (NFLX) $301.78 5.59%
Intercontinental Exchange Inc (ICE) $77.07 5.39%
Spectra Energy Corp. (SE) $13.05 5.33%
S&P 500 - Fallers
Allergan plc (AGN) $158.01 -9.09%
Kellogg Co. (K) $65.48 -8.88%
Baxter International Inc. (BAX) $62.51 -6.76%
Owens-Illinois Inc. (OI) $15.67 -6.56%
Gilead Sciences Inc. (GILD) $68.18 -5.36%
Welltower Inc (WELL) $66.07 -4.92%
Under Armour Inc. Class A (UAA) $22.11 -4.82%
Anadarko Petroleum Corp. (APC) $53.20 -4.78%
Bed Bath & Beyond Inc. (BBBY) $13.74 -4.45%
AbbVie Inc (ABBV) $77.85 -4.31%
Nasdaq 100 - Risers
T-Mobile Us, Inc. (TMUS) $68.55 7.24%
Ctrip.Com International Ltd. Ads (CTRP) $33.28 6.74%
Incyte Corp. (INCY) $64.82 6.21%
Intuitive Surgical Inc. (ISRG) $521.18 6.19%
eBay Inc. (EBAY) $29.03 5.87%
Netflix Inc. (NFLX) $301.78 5.59%
JD.com, Inc. (JD) $23.52 5.09%
Automatic Data Processing Inc. (ADP) $144.08 4.97%
Liberty Global plc Series C (LBTYK) $25.04 4.95%
Micron Technology Inc. (MU) $37.72 4.75%
Nasdaq 100 - Fallers
Gilead Sciences Inc. (GILD) $68.18 -5.36%
Electronic Arts Inc. (EA) $90.98 -4.06%
O'Reilly Automotive Inc. (ORLY) $320.75 -2.94%
Alexion Pharmaceuticals Inc. (ALXN) $112.07 -1.86%
Intel Corp. (INTC) $46.88 -1.84%
Kraft Heinz Co. (KHC) $54.97 -1.58%
Vertex Pharmaceuticals Inc. (VRTX) $169.46 -1.18%
DENTSPLY Sirona Inc. (XRAY) $34.63 -1.03%
Celgene Corp. (CELG) $71.60 -1.02%
Align Technology Inc. (ALGN) $221.20 -0.81%