US Markets
U.S. stocks climbed on Monday, with the S&P 500 marking its longest winning run in a month, as expectations for Apple's quarterly results outdid disappointment that came with a reduced outlook from International Business Machines.
"Because it (Apple) is such a visible stock, that can ease a lot of concern. It's a bellwether for the consumer in a way that some of these other companies may not be," said Jeffrey Kleintop, chief global investment strategist at Charles Schwab & Co.
However, if Apple's results prove disappointing, it "may reinforce fears that the U.S. can't remain decoupled from the rest of the world," Kleintop said.
In addition to Apple's results, economic data on China's GDP after Monday's close could impact trade on Tuesday.
Read MoreChina GDP may reignite global-growth panic
"Where the stock market began to fall about a month ago really was the release around mid-month of Chinese data, as it started to show it wasn't just Europe," said Kleintop of indications of slowing global growth.
The CBOE Volatility Index, a measure of investor uncertainty, fell nearly 15 percent to 18.70.
IBM shares slid 7.4 percent after the technology giant and Dow component posted third-quarter earnings short of estimates. Apple gained 1.9 percent ahead of reporting results after the close.
"Aside from IBM, we've got a pretty good move so far. It seems investors have their bravado back on," said Jack Ablin, chief investment officer at BMO Private Bank."The more investors can focus on fundamentals, or economic improvement and earnings, the more likely they will feel embolden to invest," Ablin added.
Of 87 companies in the S&P 500 that have reported third-quarter results, 63.2 percent have beaten earnings expectations, 10.3 percent have reported in-line earnings and 26.4 percent have missed, according to Thomson Reuters.
"Because it (Apple) is such a visible stock, that can ease a lot of concern. It's a bellwether for the consumer in a way that some of these other companies may not be," said Jeffrey Kleintop, chief global investment strategist at Charles Schwab & Co.
However, if Apple's results prove disappointing, it "may reinforce fears that the U.S. can't remain decoupled from the rest of the world," Kleintop said.
In addition to Apple's results, economic data on China's GDP after Monday's close could impact trade on Tuesday.
Read MoreChina GDP may reignite global-growth panic
"Where the stock market began to fall about a month ago really was the release around mid-month of Chinese data, as it started to show it wasn't just Europe," said Kleintop of indications of slowing global growth.
The CBOE Volatility Index, a measure of investor uncertainty, fell nearly 15 percent to 18.70.
IBM shares slid 7.4 percent after the technology giant and Dow component posted third-quarter earnings short of estimates. Apple gained 1.9 percent ahead of reporting results after the close.
"Aside from IBM, we've got a pretty good move so far. It seems investors have their bravado back on," said Jack Ablin, chief investment officer at BMO Private Bank."The more investors can focus on fundamentals, or economic improvement and earnings, the more likely they will feel embolden to invest," Ablin added.
Of 87 companies in the S&P 500 that have reported third-quarter results, 63.2 percent have beaten earnings expectations, 10.3 percent have reported in-line earnings and 26.4 percent have missed, according to Thomson Reuters.
Erasing a 119-point decline, the Dow Jones Industrial Average rose nearly 0.1 percent, with IBM pacing blue-chip losses that included just six of 30 components.
The S&P 500 added 0.9 percent, with consumer staples the best performing and industrials the laggard of its 10 major industry groups.
The Nasdaq gained 1.4 percent.
For every stock falling, more than two gained on the New York Stock Exchange, where 507 million shares traded as of 3:45 p.m. Eastern. Composite volume neared 2.8 billion.
Brendan McDermid | Reuters
Traders work on the floor of the New York Stock Exchange.
The U.S. dollar declined against other global currencies and the 10-year Treasury note yield fell a basis point to 2.179 percent.
On the New York Mercantile Exchange, crude futures for December delivery lost 5 cents to $82.01 a barrel; gold futures for December rose $5.70, or 0.5 percent, to $1,244.70 an ounce.
On Friday, U.S. stocks rallied, softening a fourth week of losses, as investors bet on further stimulus from central banks and corporations including General Electric and Morgan Stanley reported profits that topped expectations.
Read MoreS&P 500 posts longest weekly loss streak since 2011
On the New York Mercantile Exchange, crude futures for December delivery lost 5 cents to $82.01 a barrel; gold futures for December rose $5.70, or 0.5 percent, to $1,244.70 an ounce.
On Friday, U.S. stocks rallied, softening a fourth week of losses, as investors bet on further stimulus from central banks and corporations including General Electric and Morgan Stanley reported profits that topped expectations.
Read MoreS&P 500 posts longest weekly loss streak since 2011
- Coming Up This Week:
Tuesday
Earnings: Coca-Cola, McDonald's, Travelers, Verizon, Discover Financial, Lockheed Martin, VMWare, Harley-Davidson, Intuitive Surgical, Illinois Tool Works, Kimberly-Clark, Six Flags, iRobot, Cree, Omnicom
10:00 a.m.: Existing home sales
0 σχόλια:
Δημοσίευση σχολίου
Ο σχολιασμός επιτρέπεται μόνο σε εγγεγραμμένους χρήστες