US close: Street finishes green as the earnings keep coming

Wall Street stocks finished in the green on Thursday, as traders digested some key data points and more corporate earnings.

At the close, the Dow Jones Industrial Average was up 0.68% at 35,730.48, the S&P 500 added 0.98% to 4,596.42, and the Nasdaq Composite was ahead 1.39% at 15,448.12.

The Dow closed 239.79 points higher on Thursday, clawing back the previous session’s losses that saw the blue-chip index knocked off its record high.

Thursday's primary focus was news that US economic growth had slowed more sharply than anticipated over the three months ended 30 September.

According to the Department of Commerce, a preliminary reading showed that the rate of growth in US gross domestic product decelerated to a quarterly annualised pace of 2.0% in the third quarter - down from the 6.7% clip observed during the preceding three months.

In other data news, Americans applied for unemployment benefits at a slower pace last week, indicating that the US job market and economy were continuing to recover from the coronavirus-induced recession.

Initial jobless claims dropped by 10,000 to 281,000 in the week ended 23 October, a fresh pandemic-era low, according to the Labor Department.

The prior week's figure was upwardly revised from 290,000 to 291,000, while continuing claims slid to 2.24m for the week ended 16 October, beating median estimates for a print of 2.42m - another new Covid-19 era low.

Still on the macro front, pending home sales fell unexpectedly in September, down 2.3% month-on-month, according to the National Association of Realtors, principally due to a sharp increase in mortgage rates in the middle of the month.

Corporate earnings were also one of the session's primary focuses, with another batch of big-name results scheduled for release throughout the course of the day.

Bombardier was down 4.41% on Wall Street after reporting that its quarterly loss had narrowed and revenues had increased 17% to $1.4bn amid heightened demand for its business jets, while toolmaker Stanley Black & Decker was off 0.62% even after it beat estimates with its adjusted third-quarter earnings.

Merck & Co jumped 6.14% after it posted an earnings beat on the top and bottom lines, while trade bellwether Caterpillar advanced 4.06% after it topped profit estimates but fell shy on revenue.

KFC and Taco Bell parent Yum! Brands eked out gains of 0.07% after earnings topped estimates, while Hershey's slipped 0.06% despite reporting that the Halloween chocolate rush had sweetened its full-year outlook.

Amazon closed up 1.59%, Apple added 2.5%, Western Digital was ahead 3.24% and Gilead Sciences was 0.85% firmer, while Starbucks lost 0.33%, ahead of all of them updating on recent trading after the closing bell.

Dow Jones - Risers

Merck & Co. Inc. (MRK) $86.55 6.14%
Caterpillar Inc. (CAT) $204.09 4.06%
Apple Inc. (AAPL) $152.57 2.50%
JP Morgan Chase & Co. (JPM) $170.36 1.51%
Nike Inc. (NKE) $164.46 1.30%
McDonald's Corp. (MCD) $245.50 1.14%
Travelers Company Inc. (TRV) $161.57 1.12%
Salesforce.Com Inc. (CRM) $298.38 1.09%
Dow Chemical Co. (DOW) $56.57 1.02%
Chevron Corp. (CVX) $113.12 0.94%

Dow Jones - Fallers

Visa Inc. (V) $209.84 -2.75%
American Express Co. (AXP) $174.61 -1.92%
Johnson & Johnson (JNJ) $162.85 -0.54%
Home Depot Inc. (HD) $371.75 -0.20%
Walgreens Boots Alliance, Inc. (WBA) $47.10 -0.04%
Dowdupont Inc. (DWDP) $30.52 0.00%
Honeywell International Inc. (HON) $230.94 0.00%
Walt Disney Co. (DIS) $169.68 0.08%
Cisco Systems Inc. (CSCO) $56.24 0.11%
Amgen Inc. (AMGN) $207.17 0.29%

S&P 500 - Risers

Smith A O Corp. (AOS) $70.68 10.02%
Fluor Corp. (FLR) $19.81 9.09%
Ford Motor Co. (F) $16.86 8.70%
Albemarle Corp. (ALB) $246.16 6.24%
Merck & Co. Inc. (MRK) $86.55 6.14%
Regeneron Pharmaceuticals Inc. (REGN) $625.19 6.04%
T. Rowe Price Group Inc. (TROW) $215.38 5.71%
United Rentals Inc. (URI) $367.18 5.65%
Gap Inc. (GPS) $22.97 5.51%
Extra Space Storage (EXR) $193.72 5.30%

S&P 500 - Fallers

Flowserve Corp. (FLS) $32.93 -8.55%
Northrop Grumman Corp. (NOC) $358.64 -7.60%
eBay Inc. (EBAY) $72.41 -6.76%
Altria Group Inc. (MO) $44.58 -6.15%
Teleflex Inc. (TFX) $347.36 -5.16%
Everest Re Group Ltd. (RE) $267.40 -4.56%
Newmont Corporation (NEM) $54.92 -4.55%
Baxter International Inc. (BAX) $78.65 -4.06%
O'Reilly Automotive Inc. (ORLY) $624.80 -4.02%
Visa Inc. (V) $209.84 -2.75%

Nasdaq 100 - Risers

Biomarin Pharmaceutical Inc. (BMRN) $78.24 9.09%
Regeneron Pharmaceuticals Inc. (REGN) $625.19 6.04%
Align Technology Inc. (ALGN) $631.80 4.54%
Qurate Retail Inc. (QRTEA) $10.28 4.37%
KLA-Tencor Corp. (KLAC) $355.34 4.34%
PACCAR Inc. (PCAR) $89.40 4.23%
Tesla Inc (TSLA) $1,077.04 3.78%
Western Digital Corp. (WDC) $57.28 3.24%
Applied Materials Inc. (AMAT) $136.02 2.92%
Microchip Technology Inc. (MCHP) $74.43 2.85%

Nasdaq 100 - Fallers

eBay Inc. (EBAY) $72.41 -6.76%
O'Reilly Automotive Inc. (ORLY) $624.80 -4.02%
Vodafone Group Plc ADS (VOD) $15.23 -2.18%
Charter Communications Inc. (CHTR) $706.27 -1.15%
Wynn Resorts Ltd. (WYNN) $90.78 -1.10%
Comcast Corp. (CMCSA) $51.90 -1.03%
Dish Network Corp. (DISH) $41.21 -0.51%
Cognizant Technology Solutions Corp. (CTSH) $77.32 -0.50%
T-Mobile Us, Inc. (TMUS) $116.04 -0.50%
NetEase Inc. Ads (NTES) $99.98 -0.37%