Dow rises 0.79%… Morgan Stanley and other good performance
(New York = AP/Newsis) On the 16th (local time), the New York stock market closed higher with major companies reporting good results. The photo is of the New York Stock Exchange. 2024.10.17
(Seoul = Newsis) Reporter Choi Hyun-ho = On the 16th (local time), the New York stock market closed higher with major companies reporting good results.
According to CNBC, on this day on the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 43,077.70, up 337.28 points (0.79%) from the previous trading day. The Standard & Poor’s (S&P) 500 index closed at 5842.47, up 27.21 points (0.47%) from the previous trading day. The Nasdaq index, centered on technology stocks, closed at 18,367.08, up 51.49 points (0.28%).
American investment bank Morgan Stanley’s stock price rose 6.5% as it announced third-quarter results that exceeded market expectations. United Airlines also posted better-than-expected performance and even announced a positive fourth quarter outlook, leading to a 12.4% rise in its stock price.
According to financial information company FactSet, about 50 companies in the S&P 500 have announced third-quarter earnings so far, and 79% of them have exceeded market expectations.
Sam Stovall, chief strategist at CFRA Research, said he believes the stock market has the potential to rise in the near term, given the new highs reached in September. September is generally a weak month.
“In the last two months of an election year, markets rose almost every time, posting positive returns across all sizes, styles and sectors,” he said. “Investors know there is momentum behind the market.”
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