US Close 31 Oct 18: A late surge sees US stocks recover some ground lost a day earlier

US sharemarkets rose on Tuesday on hopes of a trade deal between the US and China. But shares in General Electric fell by 8.8% after cutting its dividend. The Dow Jones ended up by 432 points or 1.8% after tracking a 491-point range. The S&P500 index rose by 1.6% and the Nasdaq index gained 111 points or 1.6%. European sharemarkets were mixed on Tuesday in response to economic data and earnings results. The euro-zone economy grew by just 0.2% in the September quarter (forecast +0.4%) - the slowest pace in 4 years. Reuters reported that shares in Lufthansa fell 8.1% after the German airline missed profit estimates for the third quarter and said it would raise its number of flights more modestly than peers this season. The pan-European STOXX600 index ended flat. The German Dax fell by 0.4% and the UK FTSE index gained 0.1%. In London trade, shares of Rio Tinto fell by 0.4% and BHP fell by 0.2%

 

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