Stocks

The Dow Is Up Because Earnings, Not China, Really Matter for Stocks

Stocks inched higher as more companies reported strong profits, offsetting news that economic growth slowed down in China.

Stocks inched higher as more companies reported strong profits, offsetting news that economic growth slowed down in China.

 

Quiet Morning. Stocks were inching upward on Friday, with futures on the Dow Jones Industrial Average and S&P 500 up 0.1%, while the Nasdaq Composite was near the break-even mark.

Disappointing news about economic growth in China was somewhat offset by a few upbeat earnings results as more companies disclose their third-quarter profits.

Here are five stocks making moves this morning:

Altria Group (MO) was up 0.5% to $44.50 after Citigroup upgraded it to Neutral.

American Express (AXP) is up 1.7% to $121.12 after its third-quarter earnings were better than expected.

Coca-Cola (KO) is up 2.2% to $54.95. The company reported results that were in line with investors’ expectations, but raised its financial forecasts.

Macy’s (M) fell 4.8% to $15.02 after Credit Suisse downgraded the retailer to Underperform.

Schlumberger (SLB) was up 1.4% to $32.33. The oil-services company disclosed upbeat third quarter results.

 

 

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