Markets Right Now: Stocks surge to biggest gain since March
Posted Oct 16, 2018 10:42:08 AM.
Last Updated Oct 16, 2018 05:21:32 PM.
This article is more than 5 years old.
NEW YORK, N.Y. – The latest on developments in financial markets (all times local):
4 p.m.
Stocks are surging on Wall Street, clawing back some of the ground lost last week, after several big U.S. companies reported standout results.
Major U.S. indexes climbed more than 2 per cent Tuesday, giving them their biggest one-day gains since March. They’re still down for the month following a rout last week.
Investment banks Morgan Stanley and Goldman Sachs rose sharply after turning in strong earnings reports.
Johnson & Johnson and UnitedHealth, the nation’s biggest health insurer, also jumped after releasing their results.
Technology stocks gained back some of the ground they lost last week.
The S&P 500 index rose 59 points, or 2.1 per cent, to 2,809.
The Dow Jones Industrial Average climbed 547 points, or 2.2 per cent, to 25,798. The Nasdaq composite added 214 points, or 2.9 per cent, to 7,645.
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2:36 p.m.
Stocks are surging on Wall Street, clawing back some of the ground lost last week, after several big U.S. companies reported standout results.
Major U.S. indexes were up about 2 per cent in afternoon trading Tuesday, putting them on track for their biggest one-day gains since March.
Investment banks Morgan Stanley and Goldman Sachs rose sharply after turning in strong earnings reports.
Johnson & Johnson and UnitedHealth, the nation’s biggest health insurer, also rose sharply after releasing their results.
Technology stocks rose following a rout last week.
The S&P 500 jumped 53 points, or 1.9 per cent, to 2,803.
The Dow Jones Industrial Average climbed 484 points, or 1.9 per cent, to 25,733. It was up as much as 502 earlier.
The Nasdaq added 187 points, or 2.5 per cent, to 7,620.
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11:45 a.m.
World stock markets are turning sharply higher, helped by strong earnings reports from major U.S. companies.
Investment banks Morgan Stanley and Goldman Sachs, health care products company Johnson & Johnson and health insurer UnitedHealth all climbed after announcing their third-quarter results.
Technology companies are also rising after their recent slump. Microsoft rose 2.8 per cent.
The S&P 500 index jumped 38 points, or 1.4 per cent, to 2,789.
The Dow Jones Industrial Average climbed 342 points, or 1.4 per cent, to 25,595. The Nasdaq composite added 137 points, or 1.8 per cent, to 7,568.
Bond prices were little changed. The yield on the 10-year Treasury note held steady at 3.16 per cent.
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9:35 a.m.
Strong earnings from investment banks and big health care companies are helping send stocks solidly higher in early trading on Wall Street.
Morgan Stanley climbed 3.8 per cent in the first few minutes of trading Tuesday, and Goldman Sachs increased 1.6 per cent.
UnitedHealth Group, a major health insurer, rose 2.1 per cent and Johnson and Johnson rose 2.2 per cent.
Technology stocks were also higher following a recent bout of weakness. Microsoft rose 1.9 per cent.
The S&P 500 index rose 20 points, or 0.7 per cent, to 2,770.
The Dow Jones Industrial Average climbed 195 points, or 0.8 per cent, to 25,444. The Nasdaq composite added 74 points, or 1 per cent, to 7,506.
Bond prices were little changed. The yield on the 10-year Treasury note held steady at 3.16 per cent.
