(Reuters) - U.S. stocks gained on Thursday, as strong corporate earnings, including from software company Microsoft and automaker Ford, helped ease nerves following a steep selloff in the prior session that sent the Nasdaq into correction territory. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., October 24, 2018. REUTERS/Brendan McDermid Microsoft (MSFT.O) jumped 6.1 percent after topping consensus estimates for revenue and profit, helped by strong demand for its Azure cloud computing and Office 365 software products. The results, along with gains for chipmakers, lifted technology stocks .SPLRCT up 2.32 percent. The sector has lost about 10 percent in October and, if losses hold it would be the worst month for the high-growth sector in nearly 10 years. Ford Motor (F.N), which is struggling with sales in China, surged 7.4 percent as its earnings report raised hopes for a strong finish to the year, while Raytheon (RTN.N) up -1.2 percent … [Read more...] about Wall Street rises as technology stocks gain
Tesla on Wednesday posted a surprise third-quarter profit thanks to strong revenue generated by its Model 3 sedan. The electric-car maker earned $US2.90 a share, well above the $US0.15 loss per share expected by Wall Street analysts. It generated $US6.8 billion in sales, beating the $US6.3 billion that was anticipated. The Model 3 sedan was a huge driver for the quarter. “Q3 2018 was a truly historic quarter for Tesla,”the company said in a press release. “Model 3 was the best-selling car in the US in terms of revenue and the 5th best-selling car in terms of volume.” The high price of Model 3 helped increase Tesla’s gross automotive margin, which resulted in an $US881 million free cash flow and $US3 billion cash in total for the quarter, the electric-auto maker said. Tesla admitted that its Model 3 weekly average production fell short of its target. Nearly every analyst was impressed by Tesla’s ability to generate a profit. But they have mixed … [Read more...] about ‘Tesla may have crossed the line to become self-funding’: Here’s what Wall Street is saying about Tesla’s surprise profit
Elaine Kurtenbach, Ap Business Writer Updated 6:04 am CDT, Thursday, October 25, 2018 A man walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm Thursday, Oct. 25, 2018 in Tokyo. Shares fell moderately in Asia on Thursday after another torrent of selling gripped Wall Street overnight, sending the Dow Jones Industrial Average plummeting more than 600 points and erasing its gains for the year. Japan’s Nikkei 225 index sank sharply on the open but leveled off, regaining some lost ground. less A man walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm Thursday, Oct. 25, 2018 in Tokyo. Shares fell moderately in Asia on Thursday after another torrent of selling ... more Photo: Eugene Hoshiko, AP A man looks at an electronic stock board showing Japan's Nikkei 225 index at a securities firm Thursday, Oct. 25, 2018 in Tokyo. Shares … [Read more...] about Stocks recover in European trading; Wall Street seen rising
Breaking News Emails Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings. SUBSCRIBE Oct. 25, 2018 / 10:23 AM GMT By Reuters Oil prices steadied on Thursday, recovering from an early sell-off after Asian and European stock markets plunged in the wake of Wall Street's biggest daily decline since 2011. Brent crude oil fell by 1.1 percent to a low of $75.35 and has lost more than $10 a barrel since hitting a high of $86.74 on Oct. 3. U.S. light crude was unchanged at $66.82 after touching an intraday low of $65.99, down 83 cents. "The market looks negative with lower numbers likely," said Robin Bieber, technical analyst at London brokerage PVM Oil. "Expect spirited rallies," Bieber said, adding that he would consider such spikes as selling opportunities. Financial markets have been hit hard by a range of worries, including the U.S.-China trade war, a rout in emerging market currencies, rising borrowing costs and bond yields, … [Read more...] about After Wall Street’s shock plunge, are oil prices the next to take a nosedive?
Will Martin, provided by Published 3:12 am CDT, Thursday, October 25, 2018 Reuters / Lucas Jackson Global markets look to bounce back as European indexes gain ground, and US futures point to a positive open. Dow Jones and S&P 500 futures are suggesting a 0.7% gain for both respective indexes, while the Nasdaq is set to bounce more than 1.2%. Italy's FTSE MIB leads the way in Europe, higher by more than 1%. The rebound comes after a Wall Street bloodbath on Wednesday, which saw the Nasdaq lose more than 4%, and the Dow Jones drop more than 600 points Asia could not escape influence from Wednesday, however, with Japan's benchmark Nikkei dropping almost 4% during Thursday's session. Global stock markets appear to be bouncing back on Thursday with European indexes in the green during mid-morning trading, and US futures pointing to a positive open following Wednesday's Wall Street bloodbath. Wednesday saw the Nasdaq lose more than 4%, and the Dow Jones drop … [Read more...] about US futures point to a rebound after Wednesday’s Wall Street bloodbath