Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

World

US stocks tick higher as earnings pour in

NEW YORK, Oct 26 – US stocks ticked higher on Monday as investors braced for another wave of company earnings reports after the market faltered last week despite results that generally topped analyst forecasts.

The Dow Jones Industrial Average rose 23.20 points (0.23 percent) to 9,995.38 in opening trade.

The tech-heavy Nasdaq composite climbed 9.75 points (0.45 percent) to 2,164.22 and the broad-market Standard & Poor\’s 500 index advanced 3.07 points (0.28 percent) to 1,082.67.

With the economic calendar bare Monday, Patrick O\’Hare, an analyst at Briefing.com, said that investors would be watching to see how the stock market responds to "good news."

"If last week was any guide, then obviously the bar of expectations has risen," he said.

Wall Street faltered Friday, leaving the major indices with their first weekly loss of the month, as a flood of quarterly earnings that largely exceeded expectations appeared to leave investors unimpressed.

On Friday the Dow fell 1.08 percent, the Nasdaq shed 0.50 percent and the S&P 500 lost 1.22 percent.

Stocks declined in broad-based fashion despite better-than-expected existing home sales data and earnings from computer software giant Microsoft.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...