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emfizz.com December 15, 2017


Wall St climbs as earnings gather pace; AmEx boosts Dow

22 April 2017, 12:48 | Jan Cross

Seven of the 11 major S&P sectors were higher, with the industrials index's .SPLRCI 1.2 percent rise leading the advancers, helped by gains in CSX Corp CSX.O .

At 10:39 a.m. ET the Dow Jones Industrial Average was up 70.46 points, or 0.35 percent, at 20,474.95, the S&P 500 was up 6.08 points, or 0.26 percent, at 2,344.25.

Gains in shares of American Express and those of Goldman Sachs, recently up 5.5 per cent and 1.8 per cent respectively, led the Dow higher. (AXP), after the credit-card giant reported strong corporate earnings late Wednesday. "Our first quarter performance marks a good start to the year with momentum in the consumer and commercial businesses in the USA and in key markets internationally", Kenneth Chenault, chief executive officer, said in a statement.

"First-quarter earnings season for the S&P 500, while admittedly still unfolding, appears to be positioning well for upside surprises that could deliver earnings growth of around 9%, in line with consensus expectations and perhaps even better than that", said John Stoltzfus, chief investment strategist at Oppenheimer.

The S&P 500 is up 26.89 points, or 1.2 percent.

Philip Morris PM.N fell 3.8 percent to $109.53 after the tobacco maker's first-quarter profit forecast fell below estimates.

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Our first quarter performance marks a good start to the year with momentum in the consumer and commercial businesses in the U.S. and in key markets internationally. "Markets are trying to get their heads around whether that will actually affect company earnings".

The Conference Board's United States leading indicators index rose more than expected in March, with the index lifting 0.4% versus the 0.2% expected.

The Nasdaq composite surged 53.74 points, or 0.9 percent, to 5,916.78.

France: Uncertainty surrounds France's presidential election set for Sunday as there are several front-runners, including Marine Le Pen of the far-right National Front and Centrist Emmanuel Macron.



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