AM Report: 19 Jul 18 Positive views on the US economy and strong results lifted the DOW

US sharemarkets lifted on Wednesday, boosted by earnings results. Morgan Stanley shares rose by 1.8% after the bank reported a strong quarterly profit. Transport companies CSX (+7.1%) and United Continental (+8.8%) also beat analysts' profits and sales forecasts. US homebuilders' KB Home (-2.2%) and Lennar (-0.7%) shares declined after US housing starts fell to a 9-month low. The Dow Jones index rose by 79 points or 0.3% and the S&P 500 index rose by 0.2% to 2815 points, a 5-month high. The Nasdaq index fell by just 0.7 points or -0.01%.

 

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