Wall Street rallies, technicals help market rebound

Record ID: 1693023

  • Title: Wall Street rallies, technicals help market rebound
  • Date: 13th October 2022
  • Summary: DALLAS, TEXAS, UNITED STATES (OCTOBER 13, 2022) (REUTERS) (SOUNDBITE) (English) GUIDESTONE CAPITAL MANAGEMENT, CHIEF INVESTMENT OFFICER, DAVID SPIKA, SAYING: "There's going to be additional rallies. We'll be surprised if there's not a rally coming out of the midterm elections because of the uncertainty of the election will be behind us. The markets will likely rally then. So, you do want to have equity exposure, but I think it's important to be focused on high-quality companies with visible earnings growth. That's really where you're going to do the best. Growth value, that's not really the factor today. It's about companies that have visible earnings growth and that are high-quality companies with healthy balance sheets, good returns on equity, etc. Those are the companies that perform the best in a volatile environment where the economy is weakening."
  • Embargoed: 27th October 2022 21:16
  • Keywords: Dow Jones Nasdaq S&P 500 Wall Street equities markets
  • Location: VARIOUS
  • City: VARIOUS
  • Country: US
  • Topics: Economic Events,Equities Markets,United States
  • Reuters ID: LVA002207113102022RP1
  • Aspect Ratio: 16:9
  • Story Text: U.S. stocks ended sharply higher on Thursday (October 13) as investors pulled back from bearish bets after a disappointing consumer prices report and as technical support helped drive a rebound.
    Energy and financials led gains among S&P sectors.
    Markets were sharply lower earlier in the day after the headline consumer price index rose at an annual pace of 8.2% in September, compared with an estimated 8.1% rise.
    The S&P 500 gained 92.88 points, or 2.60%, to end at 3,669.91 points, while the Nasdaq Composite gained 232.053 points, or 2.23%, to 10,649.152.
    The Dow Jones Industrial Average rose 827.87 points, or 2.83%, to 30,038.72.
    (Production: Aleksandra Michalska)
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2022. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
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