Stocks rebound from massive sell-off, S&P 500 closes more than 1% higher as tech gains; European stocks close lower as ECB hints at further stimulus; Nokia down 20%; BELEX15 down 0.27%
Stocks rose on Thursday, clawing back some of their losses from the previous session, as shares of major tech companies advanced ahead of their quarterly earnings reports. Sentiment also got a lift from better-than-expected economic data. The S&P 500 climbed 1.2% to 3,310.11 and the Nasdaq Composite advanced 1.6% to 11,185.59. The Dow Jones Industrial Average closed 139.16 points higher, or 0.5%, at 26,659.11. Thursday marked the first daily gain for the Dow in five days. The S&P 500 snapped a three-day slide.
Amazon and Alphabet reported better-than-expected earnings after the bell along with Facebook. Apple was slated to report later in the evening.
U.S. gross domestic product for the third quarter expanded at a 33.1% annualized pace, its fastest growth ever. The reading came after a 31.4% plunge in the second quarter and was better than the 32% estimate from economists surveyed by Dow Jones.
European markets closed slightly lower on Thursday after a choppy trading session, as investors digest new lockdown measures in France and Germany and the European Central Bank’s latest policy decision.
Oil major Royal Dutch Shell on Thursday reported better-than-expected third-quarter earnings of $955 million and announced plans to increase its dividend to shareholders. Shares traded 4% higher.
German software company Nemetschek was the biggest gainer on the Stoxx 600, adding more than almost 12% after raising its outlook. At the bottom of the European blue chip index, Finnish telecoms giant Nokia plunged more than 18% after cutting its guidance for 2020 and setting its 2021 target below market expectations.
BELEX15 was down 0.27%, mainly due to 1.43% fall at NIS. This was the most active name at the same time, with RSD 2.6m in volume. We still do not have any announcements towards 9M results.
Source: CNBC, Ilirika