U.S. stocks open higher amid trade optimism
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E-mail Xinhua, October 21, 2019
NEW YORK, Oct. 21 (Xinhua) -- U.S. stocks opened higher on Monday as optimism around China-U.S. trade talks lifted investors' sentiment.
Shortly after the opening bell, the Dow Jones Industrial Average increased 46.60 points, or 0.17 percent, to 26,816.80. The S&P 500 was up 16.27 points, or 0.54 percent, to 3,002.47. The Nasdaq Composite Index gained 60.44 points, or 0.75 percent, to 8,149.99.
On earnings front, third quarter earnings are expected to decrease 3.1 percent from the same period last year, according to the latest data from Refinitiv.
Of the 73 companies in the S&P 500 that have reported earnings to date, 83.6 percent have reported earnings above analyst expectations. This compares to a long-term average of 65 percent and prior four quarter average of 74 percent.
Third-quarter revenue is expected to increase 3.1 percent from a year ago. Excluding the energy sector, the growth estimate is 4.3 percent. Enditem
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