Breaking News

You are here » Indian-Commodity  :  International & World Stock  :  US markets end in green on Tuesday

17-Oct2018

US markets end in green on Tuesday

The US markets ended the Tuesday's trade on an optimistic note with all the major indices garnering a gain of over two percentage points. The rally on Wall Street partly reflected a positive reaction to upbeat earnings news from several big-name companies, with financial giants Goldman Sachs (GS) and Morgan Stanley (MS) reporting third quarter results that beat estimates on both the top and bottom lines. Buying interest was generated following the release of positive economic data, including a report from the Federal Reserve showing industrial production increased in line with economist estimates in September. The report said industrial production rose by 0.3 percent in September after climbing by 0.4 percent in August. The continued increase in production matched expectations. The Fed said output growth in September was held down slightly by Hurricane Florence but noted the estimated negative effect was less than 0.1 percentage points. A separate report from the National Association of Home Builders showed an unexpected uptick in homebuilder confidence in the month of October. The report said the NAHB/Wells Fargo Housing Market Index inched up to 68 in October from 67 in September. Economists had expected the index to come in unchanged.

S&P 500 surged 59.13 points or 2.15 percent to 2,809.92, Dow Jones Industrial Average soared 547.87 points or 2.17 percent to 25,798.42 and Nasdaq was up by 214.74 points or 2.89 percent to 7,645.49.


Related News

View all news

US markets end in green after earnings reports

The US markets ended higher on Wednesday following a batch of strong earnings reports. Tech giant IBM Corp. (IBM) posted a standout gain after reporting fourth quarter results that beat estimates and providing......

US markets end lower as growth concerns resurface

The US markets ended lower on Tuesday on renewed concerns about global growth and the US-China trade war. The International Monetary Fund (IMF) said the global expansion is weakening at a rate that is......

US markets extend gains on optimism about trade leads

Extending gains for fourth straight session, the US markets ended sharply higher on Friday, with gains of over a percent each, as traders continued to express optimism about trade talks between the US......

Top News

View all news

Spice Mobility incorporates foreign subsidiary in Nepal

Spice Mobility has incorporated 'Digispice Nepal', a 100% foreign subsidiary of the company, in Nepal. The main object of the company is to operate in the information technology industry and provide software......

CARE assigns 'Al+' rating to EID Parry's CP

Credit rating agency, CARE has assigned rating of 'Al+' to EID Parry's Commercial Paper (CP) worth Rs 950 crore. The rating assigned to the CP factors in strong parentage of EID, benefits derived from......

Hathway Cable & Datacom reports 73% fall in Q3 net profit

Hathway Cable & Datacom has reported results for third quarter ended December 31, 2018.The company has reported 73.02% fall in its net profit at Rs 6.44 crore for the quarter under review as compared......