Stocks jumped Friday on strong earnings reports and hopes of a resolution to the lengthy U.S. government shutdown also fueled optimism.
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There are also expectations the Fed is willing to tolerate a much larger balance sheet of $3.5 trillion.
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Stocks getting relief after recently having been hit by worries about global economic growth, U.S. government shutdown and uncertainty around U.S.-China trade talks.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 24762.4 | +209.16 | +0.85% |
| SP500 | S&P 500 | 2667.87 | +25.54 | +0.97% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7169.0839 | +95.62 | +1.35% |
Starbucks shares rose as the popularity of its holiday-themed drinks in the United States helped quarterly sales top analysts’ expectations.
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Shares of Western Digital jumped after the company said its revenue would improve in the second half of the year. The company’s quarterly results fell short of expectations.
Intel’s current-quarter forecast disappointed as it blamed slowdown in China and sluggish demand for its data center and modem chips, sent its shares down.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| SBUX | STARBUCKS CORPORATION | 66.63 | +1.89 | +2.92% |
| WDC | WESTERN DIGITAL CORP. | 42.51 | +2.37 | +5.90% |
| INTC | INTEL CORPORATION | 47.23 | -2.53 | -5.09% |
In Asian markets on Friday, China’s Shanghai Composite gained 0.4 percent for the session.
Hong Kong’s Hang Seng added 0.4 percent.
Japan’s Nikkei average dipped less than 0.1 percent at the close.
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European markets closed mixed. London’s FTSE slipped 0.1 percent, Germany’s DAX gained 1.4 percent and France’s CAC rose 1.1 percent.
