MId-Day Update: Wall Street Rallies as Tough Month Nears a Close

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US stocks surged around midday on Wednesday following upbeat earnings results from US corporations.

In economic news, the 227,000 ADP private payrolls rise in October beat the 178,000 expected.

The employment cost index (ECI) report showed a 0.8% gain in compensation in Q3, beating the 0.7% expected and following a 0.6% gain in Q2.

The October Institute for Supply Management Chicago Purchasing Managers' Index fell 2.0 points to 58.4 in October, weaker than the 60.0 expected.

In Europe, equities were higher as traders digested corporate earnings.

Crude oil is up 0.24% to $66.34 per barrel. Natural gas is up $3.238 per 1 million BTU. Gold is down 0.59% to 1,218.70 per ounce, while silver is down 1% to $14.325 an ounce. Copper is up 0.15% to $2.668 per pound.

Among energy ETFs, the United States Oil Fund is up 0.25% to $14.07 with the United States Natural Gas Fund is up 1.19% to $26.37, Amongst precious-metal funds, the VanEck Vectors Gold Miners ETF is down 1.46% to $18.87 while SPDR Gold Shares is down 0.74% to $114.94. The iShares Silver Trust is down 1.47% to $13.41.

Here's where the markets stand at mid-day:


NYSE Composite Index is up 0.85% to 12,232.91

Dow Jones Industrial Index is up 1.01% to 25,129.91

S&P 500 is up 1.18% to 2,714.23

Nasdaq Composite Index is up 0.93% to 7,300.11


FTSE 100 is up 1.27% to 7,123.77

DAX is up 1.41% to 11,446.98

CAC 40 is up 2.31% to 5,093.72

Nikkei 225 is up 1.16% to 21,920.46

Hang Seng Index is up 1.60% to 24,979.69

Shanghai China Composite Index is up 1.35% to 24,979.69


NYSE Energy Sector Index is up 1.73% to 11,015.00

NYSE Financial Sector Index is up 1.11% to 7,561.45

NYSE Healthcare Sector Index is up 0.33% to 15,506.92


(+) FB (+3.7%) Beats on Q3 earnings, misses on revenue

(+) AAPL (+3%) Releases MacBook Air, iPad Pro Updates

(+) GM (+9.1%) Earnings, revenue top forecasts


(-) MDR (-41.8%) Misses Q3 estimates

(-) CLVS (-28.2%) Q3 results miss estimates

(-) EA (-3.3.%) Q2 results up vs year ago levels

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Stocks
Referenced Symbols: GM , MDR

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