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[Most Recent Quotes from www.kitco.com]
[Most Recent Quotes from www.kitco.com]



Market Digest Online FRIDAY, OCTOBER 18, 2019: Stocks rose on Thursday after strong earnings results from companies such as Netflix and Morgan Stanley. Investors also digested news of European Union and the U.K. striking a deal on Brexit. The Dow Jones Industrial Average climbed 23.90 points, or 0.1% to close at 27,025.88 after rising as much as 110.18 points earlier in the day. The S&P 500 gained 0.3% to 2,997.95 while the Nasdaq Composite advanced 0.4% to 8,156.85.

Netflix shares rose 2.5% after the video streamer posted earnings that topped analyst expectations. The company reported a bigger-than-expected increase in international paid subscribers, which mitigated a big miss in domestic subscriber adds.

"Its differentiated international and film content efforts are kicking in, and investor expectations are now reasonable," Credit Suisse analyst Douglas Mitchelson said in a note.

Morgan Stanley also got a boost from its quarterly numbers, closing 1% higher. The bank's results got a boost from stronger-than-anticipated trading and advisory revenues.

Overall, the corporate earnings season is off to a solid start. More than 78% of the S&P 500 companies that have reported have topped analyst earnings expectations, according to FactSet.

Stocks also rose after U.K. Prime Minister Boris Johnson said "we have a great new Brexit deal" via Twitter. He called on British lawmakers to back the deal when it’s put before Parliament on Saturday. Meanwhile, European Commission President Jean-Claude Juncker tweeted that the deal was a "fair and balanced" one.

Global economic data points to slower growth, while the U.S. manufacturing sector is already contracting. Among the greatest of the worries plaguing markets is the ongoing U.S.-China trade war.

China emphasized today that the U.S. must remove tariffs in order for the two countries to reach a final agreement on trade. The two economic giants have been embroiled in a trade dispute for more than a year, with each country applying tariffs on billions of dollars’ worth of goods from the other.


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