Wall Street gains as investors shrug off downbeat earnings

Record ID: 1438334

  • 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, again, it goes back to the supply-demand equation, since most people have been fleeing equities and selling out of equities. When people are selling with such pessimism about the future, the opportunity for positive surprises, as you're saying, earnings surprises are much higher. I think global, the global equity markets are yielding 3% and the 10-year-Treasury yields 1.5%. So, I don't even need to get growth to get double the return of bonds if I am owning the global equity market. So, it seems like a no brainer if you're a long-term investor to be able to think about an ownership stake in businesses and just accept the fact that I have to live with volatility. No business is going to go in a straight line."
  • 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: LVA002B2BKZNX
  • 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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