US close: Markets positive amid more strong earnings
Wall Street trading finished in the green on Thursday, with all major indices taking their cues from the strong gains seen across Europe, and some solid earnings from the likes of DowDuPont and Fitbit.
Dow Jones I.A.
37,824.22
04:30 15/10/20
Nasdaq 100
17,305.67
05:20 25/04/24
The Dow Jones Industrial Average added 1.06% to 25,380.74, the S&P 500 rose 1.06% to 2,740.37, and the Nasdaq 100 improved 1.47% to 7,069.17.
Donald Trump tweeted that trade discussions with China were "moving along nicely" and that he planned to meet with his Chinese counterpart Xi Jinping at the upcoming G20 summit after the two had a "very good" talk.
Chinese Premier Li Keqiang told visiting US politicians earlier in the day that China and the United States could overcome their differences if they were capable of working together in a spirit of mutual respect.
“Onwards and, hopefully, upwards is the collective feeling in the markets on Thursday as investors bid farewell to red October and welcome a new month that will ideally be more positive,” said Oanda analyst Craig Erlam.
"The final day of the month was far more positive than the 22 days, or so, that preceded it which many will hope is a sign of better things to come.
“The timing of this sudden shift was curious, with some suggesting it may have been more a case of month end moves, perhaps some portfolio rebalancing, but I guess that will become more clear in the coming days.”
On the data front, figures from the Labor Department showed that initial jobless claims fell by 2,000 to 214,000 last week versus expectations for a drop to 213,000, while the prior week's level was revised up by 1,000 to 216,000.
The four-week moving average came in at 213,750, up 1,750 from the previous week's average, which was revised up by 250.
In corporate news, Spotify shares were down 5.7% despite the music streaming service posting a 5% rise in premium subscribers for the third quarter.
Fitbit shares surged 25.79% after its third-quarter earnings late on Wednesday surpassed analysts' expectations.
Chemical company DowDuPont rallied 8.07% on the back of strong quarterly earnings and news of a new $3bn share buyback.
Avon shares slid 4.08% after the cosmetics company’s third-quarter profit and sales fell short of expectations, and online furniture and homeware retailer Wayfair was 12.81% lower after it reported a bigger-than-expected third-quarter loss.
Dow Jones - Risers
Dowdupont Inc. (DWDP) $58.27 8.07%
Visa Inc. (V) $140.83 6.08%
United Technologies Corp. (UTX) $127.58 4.05%
Intel Corp. (INTC) $48.22 2.86%
Caterpillar Inc. (CAT) $124.70 2.79%
Home Depot Inc. (HD) $180.49 2.60%
Exxon Mobil Corp. (XOM) $80.67 2.40%
Nike Inc. (NKE) $76.79 2.33%
Boeing Co. (BA) $363.07 2.31%
Pfizer Inc. (PFE) $43.68 1.84%
Dow Jones - Fallers
Verizon Communications Inc. (VZ) $56.05 -3.66%
Walmart Inc. (WMT) $100.58 -1.80%
McDonald's Corp. (MCD) $174.86 -1.14%
Microsoft Corp. (MSFT) $105.92 -0.83%
Merck & Co. Inc. (MRK) $73.13 -0.65%
Travelers Company Inc. (TRV) $125.22 -0.53%
Chevron Corp. (CVX) $111.17 -0.43%
Coca-Cola Co. (KO) $47.72 -0.33%
Cisco Systems Inc. (CSCO) $45.65 -0.22%
JP Morgan Chase & Co. (JPM) $108.98 -0.04%
S&P 500 - Risers
Wyndham Destinations Inc. (WYND) $42.71 22.73%
Pitney Bowes Inc. (PBI) $7.91 19.88%
Newfield Exploration Co (NFX) $23.47 16.14%
Molson Coors Brewing Co. Class B (TAP) $65.99 13.37%
Wynn Resorts Ltd. (WYNN) $112.63 11.96%
Western Digital Corp. (WDC) $47.08 9.31%
Church Dwight Co Inc. (CHD) $64.87 9.26%
Stanley Black & Decker Inc. (SWK) $123.44 9.08%
United Rentals Inc. (URI) $125.71 8.73%
Applied Materials Inc. (AMAT) $35.35 7.51%
S&P 500 - Fallers
Allstate Corp (The) (ALL) $89.97 -6.01%
Fiserv Inc. (FISV) $74.91 -5.54%
Hanesbrands Inc. (HBI) $16.20 -5.48%
General Electric Co. (GE) $9.58 -5.15%
PerkinElmer Inc. (PKI) $81.81 -4.53%
Apache Corp. (APA) $36.39 -3.81%
Verizon Communications Inc. (VZ) $56.05 -3.66%
Verisk Analytics Inc. (VRSK) $115.64 -3.50%
Anthem Inc (ANTM) $265.93 -3.50%
Simon Property Group Inc. (SPG) $181.64 -3.25%
Nasdaq 100 - Risers
Wynn Resorts Ltd. (WYNN) $112.63 11.96%
Western Digital Corp. (WDC) $47.08 9.31%
JD.com, Inc. (JD) $25.45 8.21%
Applied Materials Inc. (AMAT) $35.35 7.51%
Lam Research Corp. (LRCX) $151.86 7.15%
Microchip Technology Inc. (MCHP) $70.37 6.98%
Seagate Technology Plc (STX) $42.98 6.84%
Alexion Pharmaceuticals Inc. (ALXN) $119.70 6.81%
Hasbro Inc (HAS) $97.55 6.37%
Micron Technology Inc. (MU) $40.12 6.36%
Nasdaq 100 - Fallers
Fiserv Inc. (FISV) $74.91 -5.54%
Verisk Analytics Inc. (VRSK) $115.64 -3.50%
Idexx Laboratories Inc. (IDXX) $205.06 -3.33%
Automatic Data Processing Inc. (ADP) $140.91 -2.20%
Microsoft Corp. (MSFT) $105.92 -0.83%
Paychex Inc. (PAYX) $64.99 -0.76%
Alphabet Inc. Class C (GOOG) $1,070.00 -0.63%
Cintas Corp. (CTAS) $180.77 -0.60%
Ross Stores Inc. (ROST) $98.42 -0.59%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $272.95 -0.57%