Dow Gains as Draghi Speaks, Microsoft Rises

Ben Levisohn Markets Now Markets EBAY F MSFT PYPL TSLA TWTR eBay Ford Motor Microsoft Tesla Twitter PayPal Holdings Banking/Credit Financial Services Financial Technology Mobile Payment Systems Electronic Payment Systems Technology Mario Draghi North America United States EBAY F I/XFFX M/FCL M/TEC MSFT N/DJN N/WER PYPL R/NME R/US TWTR Barrons.com Barrons Blogs Wires Fortune 500 COMP DJIA Dow Jones Industrial Average Nasdaq Composite S&P 500 SPX CODES_REVIEWED Companies Markets Now Markets author Ben Levisohn author|Ben Levisohn topicid 8022 name Ben Levisohn extractedtext Ben Levisohn rank 1 codetype author code ben_levisohn nameformat surname_first author Ben Levisohn id Ben Levisohn barrons_display_brand BARMKTNOW barrons_display_brand|BARMKTNOW codetype BARRONS_DISPLAY_BRAND canbedisplaybrand true value BARMKTNOW source MANUAL status modified name Markets Now code BARMKTNOW barrons_display_subject BARMKTS barrons_display_subject|BARMKTS codetype BARRONS_DISPLAY_SUBJECT canbedisplaysubject true value BARMKTS source MANUAL status modified name Markets code BARMKTS co TWNIT co|TWNIT symbol TWTR country US codetype co displayname Twitter extractedtext Twitter source MANUAL code twtr name Twitter significance prominent onlinesignificance prominent exchange U.S.: NYSE exchangeisocode XNYS chartingsymbol STOCK/US/XNYS/TWTR fcode TWNIT status modified co EBAYUS co|EBAYUS symbol EBAY country US codetype co displayname eBay extractedtext eBay source MANUAL code ebay name eBay significance passing onlinesignificance passing-mention exchange U.S.: Nasdaq exchangeisocode XNAS chartingsymbol STOCK/US/XNAS/EBAY fcode EBAYUS status modified co FRDMO co|FRDMO symbol F country US codetype co displayname Ford Motor extractedtext Ford Motor source MANUAL code f name Ford Motor significance passing onlinesignificance passing-mention exchange U.S.: NYSE exchangeisocode XNYS chartingsymbol STOCK/US/XNYS/F fcode FRDMO status modified co TESLMI co|TESLMI symbol TSLA country US codetype co displayname Tesla extractedtext Tesla source MANUAL code tsla name Tesla significance prominent onlinesignificance prominent exchange U.S.: Nasdaq exchangeisocode XNAS chartingsymbol STOCK/US/XNAS/TSLA fcode TESLMI status modified co XCMCRP co|XCMCRP symbol PYPL country US codetype co displayname PayPal Holdings extractedtext PayPal Holdings source MANUAL code pypl name PayPal Holdings significance passing onlinesignificance passing-mention exchange U.S.: Nasdaq exchangeisocode XNAS chartingsymbol STOCK/US/XNAS/PYPL fcode XCMCRP status modified co MCROST co|MCROST symbol MSFT country US codetype co displayname Microsoft extractedtext Microsoft source MANUAL code msft name Microsoft significance prominent onlinesignificance prominent exchange U.S.: Nasdaq exchangeisocode XNAS chartingsymbol STOCK/US/XNAS/MSFT fcode MCROST status modified company TWTR company|TWTR name Twitter significance PROMINENT company EBAY company|EBAY name eBay significance PROMINENT company F company|F name Ford Motor significance PROMINENT company TSLA company|TSLA name Tesla significance PROMINENT company PYPL company|PYPL name PayPal Holdings significance PROMINENT company MSFT company|MSFT name Microsoft significance PROMINENT djn PYPL djn|PYPL significance prominent onlinesignificance prominent name PYPL why about source FACTIVA occurs true fcode PYPL codetype djn code pypl djn EBAY djn|EBAY significance passing onlinesignificance passing-mention name EBAY why occur source FACTIVA fcode EBAY codetype djn code ebay djn F djn|F significance passing onlinesignificance passing-mention name F why occur source FACTIVA fcode F codetype djn code f djn MSFT djn|MSFT significance passing onlinesignificance passing-mention name MSFT why occur source FACTIVA fcode MSFT codetype djn code msft djn TWTR djn|TWTR significance passing onlinesignificance passing-mention name TWTR why occur source FACTIVA fcode TWTR codetype djn code twtr djn M/FCL djn|M/FCL name M/FCL why lineage source FACTIVA fcode M/FCL codetype djn code m_fcl djn M/TEC djn|M/TEC name M/TEC why lineage source FACTIVA fcode M/TEC codetype djn code m_tec djn R/US djn|R/US significance prominent onlinesignificance prominent name R/US why about source FACTIVA fcode R/US codetype djn code r_us djn R/NME djn|R/NME name R/NME why lineage source FACTIVA fcode R/NME codetype djn code r_nme djn I/XFFX djn|I/XFFX significance prominent onlinesignificance prominent name I/XFFX why about source FACTIVA fcode I/XFFX codetype djn code i_xffx djn N/DJN djn|N/DJN codetype djn value N/DJN source DJN-CONTROL status modified inactivebydefault true name N/DJN code n_djn djn N/WER djn|N/WER codetype djn value N/WER source DJN-CONTROL status modified inactivebydefault true name N/WER code n_wer first_publish_headline The Dow Is Rising. And With Central Bank Backing and Solid Earnings, It Might Just Keep on Gaining. first_publish_headline|The Dow Is Rising. And With Central Bank Backing and Solid Earnings, It Might Just Keep on Gaining. flow NWREGULAR flow|NWREGULAR codetype FLOW value NWREGULAR source MANUAL status modified name Wires code NWREGULAR flow Barrons.com flow|Barrons.com codetype FLOW value Barrons.com source MANUAL status modified name Barrons.com code online name Online title Product code Barrons.com flow Barrons Blogs flow|Barrons Blogs codetype FLOW value Barrons Blogs title Product source MANUAL status modified name Barrons Blogs code Barrons_Blogs headline The Dow Is Rising. And With Central Bank Backing and Solid Earnings, It Might Just Keep on Gaining. headline|The Dow Is Rising. 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And With Central Bank Backing and Solid Earnings, It Might Just Keep on Gaining. The Dow Is Rising. And With Central Bank Backing and Solid Earnings, It Might Just Keep on Gaining. Dow Jones Industrial Average Rises as Mario Draghi Speaks, Microsoft Gains

Mario Draghi is helming his final ECB meeting this morning, and he’s reinforcing his previous message—that the eurozone needs easy money well into the future. With solid earnings, and central bank backing, who needs to worry?

Dow Gains as Draghi Speaks, Microsoft Rises

Mario Draghi is helming his final ECB meeting this morning, and he’s reinforcing his previous message—that the eurozone needs easy money well into the future. With solid earnings, and central bank backing, who needs to worry?

https://www.marketwatch.com/story/twitter-stock-tumbles-20-after-company-says-advertising-bugs-weighing-on-earnings-2019-10-24 https://www.barrons.com/articles/ebay-stock-falls-on-mixed-third-quarter-results-51571864576 https://www.barrons.com/articles/ford-cuts-guidance-again-earnings-51571865351 https://www.barrons.com/articles/tesla-stock-soars-as-earnings-blow-through-estimates-51571866012 https://www.barrons.com/articles/paypal-stocks-pops-after-hours-on-third-quarter-earnings-beat-51571864741 https://www.barrons.com/articles/microsoft-posts-better-than-expected-earnings-51571864491 https://www.cnbc.com/2019/10/24/ecb-keeps-rates-unchanged-as-mario-draghi-says-goodbye-to-frankfurt.html mailto:Ben.Levisohn@barrons.com The Dow Is Rising. And With Central Bank Backing and Solid Earnings, It Might Just Keep on Gaining. By Ben Levisohn Photograph by Krisztian Bocsi/Bloomberg Mario Draghi, president of the European Central Bank

8:17 a.m. The Dow Jones Industrial Average looks set for a higher open despite big earnings-related drops in stocks like Twitter (TWTR) and eBay (EBAY) and Ford Motor (F).

Dow futures have advanced 54 points, or 0.2%, while S&P 500 futures have risen 0.2%, and Nasdaq Composite futures have gained 0.6%.

Yes, there are some very big, prominent losers Thursday. Twitter has tumbled 19% to $31.59 after missing earnings forecasts, while eBay has dropped 7.9% to $36.10 after offering below-consensus guidance. Ford is off 3.7% to $8.87 after cutting its own guidance.

But it seems that for every action there’s an equal and opposite reaction. Tesla (TSLA) is up 18% to $299.85 after reporting a surprise profit, while PayPal Holdings (PYPL) has gained 8.3% to $104.66 after topping third-quarter earnings estimates. Microsoft (MSFT) is up just 1.2% to $138.90 after reporting earnings after Wednesday’s close, but has a massive impact due to its $1 trillion market cap.

And don’t forget that Mario Draghi is helming his final ECB meeting this morning, and he’s reinforcing his previous message—that the eurozone needs easy money well into the future.

With solid earnings, and central bank backing, who needs to worry?

Write to Ben Levisohn at Ben.Levisohn@barrons.com

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