Wall Street gains as investors shrug off downbeat earnings

Record ID: 1438333

  • Title: Wall Street gains as investors shrug off downbeat earnings
  • Date: 23rd October 2019
  • Summary: NEW YORK, NEW YORK, UNITED STATES (OCTOBER 23, 2019) (REUTERS) (SOUNDBITE) (English) SATOVSKY ASSET MANAGEMENT CHIEF BEHAVIORAL OFFICER AND FOUNDER, JONATHAN M. SATOVSKY, SAYING: "I think the thing about earnings season that people should, should remember - and I think this is also has a little bit of a dichotomy in the market right now - because of very low interest rates, a lot of the companies that have gotten a lot of headlines are unprofitable companies. And you see it, you know, with this whole story about We Work, you know, it's a very controversial story. But the truth is, over time, if you don't play lottery tickets, and you invest in profitable businesses over a long period of time - this is the Warren Buffett philosophy - you know, if I'm investing in profitable businesses, I can go to the movies during the day, and I don't have to pay to pay attention to the daily market movements."
  • Embargoed: 6th November 2019 20:17
  • Keywords: S&P 500 NYSE Jonathan Satovsky results Boeing New York Stock Exchange Satovsky Asset Management earnings Nasdaq Dow Jones Caterpillar closing bell
  • Location: NEW YORK, NEW YORK, UNITED STATES
  • City: NEW YORK, NEW YORK, UNITED STATES
  • Country: USA
  • Topics: Economic Events,Equities Markets
  • Reuters ID: LVA004B2BKZNX
  • Aspect Ratio: 16:9
  • Story Text: U.S. stocks edged higher on Wednesday (October 23) as investors looked past lackluster quarterly reports from industrial bellwethers Boeing and Caterpillar, though a lower-than-expected revenue outlook from Texas Instruments sent chipmakers' shares lower.
    The Dow Jones Industrial Average rose 45.85 points, or 0.17%, to 26,833.95, the S&P 500 gained 8.52 points, or 0.28%, to 3,004.51 and the Nasdaq Composite added 15.50 points, or 0.19%, to 8,119.79.
    (Production: Aleksandra Michalska)
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2019. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
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