U.S. stocks rally amid upbeat earnings
Xinhua, October 18, 2016 Adjust font size:
U.S. stocks traded higher in the morning session Tuesday, as Wall Street digested a batch of generally positive quarterly earnings reports.
By noon, the Dow Jones Industrial Average gained 83.12 points, or 0.46 percent, to 18,169.52. The S&P 500 rose 14.16 points, or 0.67 percent, to 2,140.66. The Nasdaq Composite Index was up 52.08 points, or 1.00 percent, to 5,251.90.
Shares of the Goldman Sachs Group, Inc. jumped nearly two percent around midday Tuesday after the U.S. bank posted strong quarterly results.
Shares of BlackRock, Inc. also rose Tuesday after the company delivered quarterly earnings above estimates but revenues shy of forecast.
Shares of Johnson & Johnson fell over 2 percent in the morning trading Tuesday even though the drug giant reported better-than-expected quarterly results.
On the economic front, the Consumer Price Index for all urban consumers increased 0.3 percent in September on a seasonally adjusted basis, on par with market consensus, the U.S. Labor Department reported Tuesday.
Over the last 12 months, the all-items index rose 1.5 percent before seasonal adjustment. Enditem