US Close Report 26 OCT 18: Earnings results ignite relief rally for US stocks

 

US sharemarkets rebounded on Thursday. Strong earnings from Ford, Whirlpool, Microsoft, Tesla, Twitter, American Airlines and Visa offset disappointment from Advanced Microsoft Devices. Bargain hunters were active. Reuters noted "the S&P's valuation fell to a two-and-a-half year low of 15.3 times profit estimates for the next 12 months from 15.8, according to Refinitiv data." The Dow Jones ended higher by 401 points or 1.6% after being up 520 points. The S&P500 index rose by 1.9% and the Nasdaq index gained 210 points or 3.0%.

 

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