Stocks
AXP

Wall St gains on positive earnings, upbeat data

Reuters

By Stephen Culp

NEW YORK, April 18 () - Industrials led Wall Street higher on Thursday in the wake of upbeat economic data and a string of healthy corporate earnings.

All three major U.S. stock indexes nosed into positive territory in light trading heading into the three-day weekend.

Of the 77 S&P 500 companies that have posted thus far, 77.9% have beaten consensus, compared with the 65% average beat rate going back to 1994.

First quarter earnings are beating estimates, "but not by enough to be a catalyst for significantly higher stock prices," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. "You'd have to hit the ball out of the park to push stocks significantly higher."

Declining issues outnumbered advancing ones on the NYSE by a 1.00-to-1 ratio; on Nasdaq, a 1.12-to-1 ratio favored decliners.

The S&P 500 posted 33 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 41 new highs and 71 new lows.


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

In This Story

AXP

Other Topics

Politics

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More