Wednesday, 23 October 2019
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Stocks close higher for third-straight session on upbeat earnings, economic data

U.S. stocks closed higher Wednesday, marking the third-straight session of gains as investors shook off concerns over U.S.-China trade relations to focus on positive earnings from blue-chip firms Walmart Inc. and Cisco Systems Inc. as well as surprisingly strong data on the labor and housing markets.

The Dow Jones Industrial Average rose 214 points or about 0.8% to 25,862.68, while the S&P 500 added roughly 25 points, or 0.9% to 2,876.32. The Nasdaq Composite index climbed approximately 76 points, or 1% to 7,898.05. Walmart shares rose 1.4% after the retailer reported upbeat earnings Thursday morning, while Cisco stock climbed more than 6.6% on a positive Wednesday-evening release. New claims for unemployment benefits, meanwhile, came in below consensus expectations, while home builders broke ground on new homes in April at a rate 6% higher than in March.

Source : MarketWatch

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