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US benchmarks cause no frights on Halloween

It comes as the central bank, the Federal Reserve, starts a two day policy meeting,..

US benchmarks aiming to not spook traders on Halloween
US markets.... they weren't too scary in the end
  • US benchmarks close higher

  • Fed two-day meeting in focus

  • TSX up 22pts

 

Wall Street shares cruised to a higher finish on Halloween, rounding off a strong October.

The Dow Jones added 28.5 to 23,377, while the S&P 500 added 2.43 at 2,575.

The tech heavy Nasdaq gained 28.71 at 6,727.

In Toronto, the TSX finished over 22 points higher at 16,025.

US crude - West Texas Intermediate - added 0.92% to US$54.65 a barrel.

 

MID-SESSION

US stocks headed north at mid-session, thanks to strong earnings reports and anticipation of the Fed policy meeting which starts today

The Dow Jones rose around 43 at 23,392, the S&P 500 added 4,42 at 2,577,

The tech heavy Nasdaq gained over 33 points at 6,732.

In Toronto, the TSX held onto gains yesterday and is up over 54 points at 16,056.

In companies, cereals firm Kellogg Company (NYSE:K) shares added 5.89% to US$ 62.34after the third quarter saw an EPS beat of 11 cents along with a slight beat for sales. The company reaffirmed its full year 2017 outlook.

Meanwhile, Qualcomm Inc (NASDAQ:QCOM) shares  lost 7.37% to  US$50.63 after a report in the Wall Street Journal, which said that Apple may drop the chip maker’s components for upcoming iPads and iPhones.

Credit card giant Mastercard Inc (NYSE:MA) shares shed 0.45% to US$148.28 after the firm reported better-than-expected revenue and profit, with revenue of $3.40 billion, compared with analysts’ consensus forecasts for revenue of $3.28 billion.

Elsewhere, Mondelez International Inc (NASDAQ:MDLZ) shares added almost 6% to US$41.64 as it posted forecast-topping earnings and revenue.

 

OPEN

After a lower close yesterday, Wall Street shares opened higher as markets try to end Halloween and October in good cheer.

It comes as the central bank, the Federal Reserve, starts a two day policy meeting, which is likely to guide sentiment and as controversy still surrounds the White House concerning the Russia investigation.

The Dow Jones added around 16 at 23,365, the SA&P 500 gained two points to 2,574, while the Nasdaq added almost 14 points at 6,713.

The price of oil shed  0,17% to US$54.05 a barrel.

In Toronto, the TSX closed yesterday over 16,000 for the first time in its history. 

Almost all sectors of the market were higher, led by health care and energy stocks. The financial sector, which makes up more than a third of the market, also showed a small gain.

In the US today, in stocks, Under Armour (NYSE:UAA) tanked 14.81% to US$13.98 as it slashed full year sales expectations 'reflecting lower North American demand and operational challenges."

Under Armour shares have fallen more than 50% in 2017.

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