NEW YORK, NNC - Stocks on Wall Street in late trading Thursday or Friday morning GMT rebounded from a previous session selloff. Investors are optimistic about the results of third quarter corporate earnings reports and key economic data.
The Dow Jones Industrial Average rose 401.13 points, or 1.63 percent, to close at 24,984.55 points.The S&P 500 index rose 49.47 points, or 1.86 percent, to end at 2,705.57 points. The Nasdaq Composite Index added 209.93 points or 2.95 percent, to 7,318.34 points.
Microsoft shares jumped 5.84 percent after the company reported performance that exceeded expectations on Wednesday (10/24/2018). Microsoft's diluted earnings per share reached US$1.14 and revenues were US$29.08 billion.
Meanwhile, Tesla reported third-quarter earnings that surprised the market. The electric car manufacturer reported revenues of US$6.82 billion and earnings per share of US$2.9. Its share price jumped 9.14 percent to US$314.86 at the close of trading.
Twitter shares jumped 15.47 percent after reporting higher-than-expected earnings and revenue. For the third quarter, earnings per share were US$0.21 and revenues were US$758 million, far exceeding analysts' expectations. As reported by Xinhua, as quoted from Antara, Friday (10/26).
On the economic front, the number of Americans applying for unemployment benefits rose last week, according to the US Labor Department.
The US trade deficit in goods widened for the fourth straight month in September, bringing it to a deficit of US$76 billion, according to the US Commerce Department.
The department said US goods exports for September reached US$141.0 billion, US$2.5 billion more than exports in August.
Meanwhile, imports of goods for September reached US$217.0 billion, US$3.1 billion higher than August's imports.