U.S. Stocks Open Higher as Investors Focus on Earnings
2019年10月24日 - 11:08PM
Dow Jones News
By Avantika Chilkoti
Major U.S. stock indexes opened higher Thursday, as a slew of
central-bank decisions and major corporate earnings provided mixed
clues on the state of the global economy.
The Dow Jones Industrial Average rose 51 points, or 0.2%, to
26889 shortly after the opening bell. The S&P 500 added 0.2%
and the Nasdaq Composite rose 0.6%.
Twitter dropped 19% after the social-media company's
third-quarter earnings fell short of expectations. Its
fourth-quarter revenue forecast also disappointed the market.
Tesla shares rose 18% after the electric-car maker surprised
investors by reporting a profit for the third quarter, allaying
fears that it was prioritizing growth and production over profit.
PayPal Holdings rose 8.6% after the payments company posted
better-than-expected results in its latest quarter with a 19% rise
in revenue.
Ebay dropped 9.8% after the online marketplace forecast its
first quarterly revenue decline in four years. Ford shares fell 5%
after the car maker lowered its full-year target, sparking worries
that a broad restructuring at the company isn't succeeding in
driving earnings growth.
A number of blue-chip companies in the U.S. including Intel,
Amazon.com and Visa are set to report third-quarter earnings
through the day.
Meanwhile, the European Central Bank left interest rates
unchanged and stuck with a plan to start buying bonds next month.
The yield on German 10-year bonds were up to minus 0.387% from
minus 0.391% on Wednesday. The euro was broadly flat on the
dollar.
Other central banks also took action on Thursday. Bank Indonesia
cut interest rates by a further 25 basis points, sending the rupiah
down 0.5% on the dollar. Meanwhile, Turkey's central bank surprised
markets with a bigger-than-expected cut to its key repo rate,
sending the lira down 0.4%. The Norwegian and Swedish central banks
held their benchmark rates unchanged.
The Stoxx Europe 600 index rose 0.5%, even as Finland's Nokia
dropped 20% after disappointing investors by slashing its full-year
forecast. The world's second-biggest telecom-equipment maker was
the worst performer in Europe as the growing costs of rolling out
gear for 5G mobile networks also forced it to halt its
dividend.
The U.K.'s FTSE 100 index outpaced other major gauges in the
region, rising 0.9%. European Council President Donald Tusk is
asking leaders to give the U.K. until Jan. 31 to leave the European
Union. The pound ticked down against the U.S. dollar.
Write to Avantika Chilkoti at Avantika.Chilkoti@wsj.com
(END) Dow Jones Newswires
October 24, 2019 09:53 ET (13:53 GMT)
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