Upbeat earnings reports boost Wall Street

Record ID: 1436786

  • Title: Upbeat earnings reports boost Wall Street
  • Date: 15th October 2019
  • Summary: NEW YORK, NEW YORK, UNITED STATES (OCTOBER 15, 2019) (REUTERS) (SOUNDBITE) (English) TACTICALINCOME.COM CO-FOUNDER, JEFF TOMASULO, SAYING: "Jamie Dimon and his team is doing a superb job navigating a very tough market for banks, right? Like we have record low interest rates. You have a lot of volatility which we saw in you know, Jamie Dimon's stuff is that they made some really good money on the bond side, of making money, trading that way. So I think it's just a mixed bag. And it's just really what banks are actually being managed better? And we saw that in JPMorgan."
  • Embargoed: 29th October 2019 20:12
  • Keywords: Wall Street third-quarter reporting season earnings reports equities market U.S. stocks
  • Location: NEW YORK, NEW YORK, UNITED STATES
  • City: NEW YORK, NEW YORK, UNITED STATES
  • Country: USA
  • Topics: Economic Events,Equities Markets
  • Reuters ID: LVA004B17HSB1
  • Aspect Ratio: 16:9
  • Story Text: Wall Street advanced on Tuesday (October 15) as third-quarter reporting season hit with a spate of upbeat earnings reports that brought buyers back to the equities market.
    All three major U.S. stock averages gained ground in a broad-based rally, with the S&P 500 and the Nasdaq hitting their highest closing level in more than three weeks.
    Adding to positive geopolitical developments, investors welcomed news that Britain and the European Union could reach a deal in time for a leaders' summit this week.
    Major financial firms JPMorgan Chase & Co., Citigroup Inc., Goldman Sachs Group Inc. and Wells Fargo & Co. all posted results, as did healthcare giants Johnson & Johnson and UnitedHealth Group Inc.
    Among the big banks, JPMorgan Chase stock hit a record high after it handily beat estimates on bond trading and underwriting strength. Its shares were last up 3.0%.
    The Dow Jones Industrial Average rose 237.64 points, or 0.89%, to 27,025, the S&P 500 gained 29.49 points, or 0.99%, to 2,995.64 and the Nasdaq Composite added 100.06 points, or 1.24%, to 8,148.71.
    (Production by Fred Katayama; Editing by Roselle Chen)
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2019. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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