Wall St ends higher amid mixed earnings, Trump-Xi meeting confirmed
Wall Street advanced on Thursday as investors mulled a mixed batch of corporate earnings and shifting geopolitical concerns.
All three major U.S. stock indexes closed higher, with tech strength nudging the Nasdaq into the lead. But the small-cap Russell 2000 was the clear outperformer.
The indexes gained some momentum after the White House confirmed U.S. President Donald Trump will meet Chinese President Xi Jinping next week as part of his trip through Asia.
Trade tensions between Washington and Beijing have been escalating in recent days, marked by tit-for-tat retaliatory measures announced by both sides. Confirmation that the two leaders would meet next week appeared to ease those tensions.
Trump announced sanctions against Russian oil companies, marking a sharp policy shift in ramping up the pressure on Moscow over its war against Ukraine, ratcheting up geopolitical strife and sending world oil prices jumping.
The Dow Jones Industrial Average rose 144.20 points, or 0.31%, to 46,734.61, the S&P 500 gained 39.03 points, or 0.58%, to 6,738.43 and the Nasdaq Composite gained 201.40 points, or 0.89%, to 22,941.80.
Third-quarter reporting season has hit full stride.
Tesla shares rebounded, gaining 2.3% following its third-quarter profit miss. The electric-vehicle maker was the first of the "Magnificent Seven" group of megacap momentum stocks that account for more than a third of the S&P 500's market cap.
Source : Reuters.com
