FYI: U.S. stocks gained on Thursday, as Microsoft’s strong earnings helped Nasdaq-listed companies stage a rebound from the tech-heavy index’s worst decline since 2011 in the previous session.
Traders said investors also went bargain hunting after the market rout on Wednesday that erased the Dow and the S&P 500’s gain for the year and confirmed a correction for the Nasdaq.
Microsoft (MSFT.O) jumped 5.3 percent after it beat consensus estimates for revenue and profit. That, along with gains in chipmakers, helped technology stocks .SPLRCT rise 2.89 percent.
The latest round of upbeat results came from a wide range of companies, including Visa (V.N), Whirlpool (WHR.N), Twitter (TWTR.N) and American Airlines (AAL.O), and offered relief after the earnings season began on a tepid note and then geared lower on sluggish outlook from manufacturers and chipmakers.
Of the 11 groups in the broad market index, utilities were the only sector in the red, sliding 1.3%. Those shares are still the best performers this month, though, as investors have piled into traditional defensive sectors. Utilities are considered to be bondlike because of their relatively hefty dividends.
All those worries that fueled the selloff haven’t gone anywhere, but that’s not the point, writes SunTrust’s Keith Lerner: “Investors should not lose sight of the fact that the carousel of concerns has been a mainstay of the current bull market, the second strongest and longest in history. Uncertainty is the admission price to the stock market, yet it never feels comfortable.”
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2018-10-25/your-evening-briefingBloomberg:
https://www.bloomberg.com/news/articles/2018-10-24/stocks-rout-to-envelop-asia-as-treasuries-rally-markets-wrap?srnd=premiumWSJ:
https://www.wsj.com/articles/tech-led-selloff-tears-through-asian-stock-markets-1540439166MarketWatch:
https://www.marketwatch.com/story/dow-futures-poised-for-modest-comeback-after-stock-market-rout-rattles-wall-street-2018-10-25/printIBD:
https://www.investors.com/market-trend/stock-market-today/sp-500-danger-big-rallies/Reuters:
https://www.reuters.com/article/us-usa-stocks/strong-results-bargain-hunting-help-wall-street-bounce-back-from-rout-idUSKCN1MZ1Q4CNBC:
https://www.cnbc.com/2018/10/25/stock-market-climbs-back-after-dow-losses.htmlU.K.:
https://www.marketwatch.com/story/ftse-100-tilts-higher-as-pound-softens-after-ecb-bosss-comments-2018-10-25/printEurope:
https://www.reuters.com/article/us-europe-stocks/european-stocks-bounce-back-after-global-sell-off-idUSKCN1MZ0UJAsia:
https://www.marketwatch.com/story/japans-nikkei-leads-heavy-losses-in-asia-stocks-as-global-woes-mount-2018-10-24/printBonds:
https://www.cnbc.com/2018/10/25/us-treasurys-rise-as-investors-shun-stocks.htmlCurrencies:
https://www.cnbc.com/2018/10/25/euro-hits-session-high-after-ecbs-draghi-predicts-inflation-pick-up.htmlOil:
https://www.cnbc.com/2018/10/25/oil-markets-market-sell-off-looming-us-sanctions-on-iran-in-focus.htmlGold
https://www.cnbc.com/2018/10/25/gold-markets-dollar-global-markets-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx
