Strong US earnings help global stocks rally

Major indices on Wall Street rallied Tuesday after strong earnings from US banks and tech stocks like Netflix, with markets in Asia and Europe getting a boost

Wall Street
Source: Bloomberg

The FTSE 100 has risen more than 20 points at 9:35am (BST) on Wednesday bolstered by strong earnings in the US market and news that UK consumer price inflation fell to 2.4% in September, down from 2.7% in August.

In mainland Europe, the Euro Stoxx 50 has climbed 0.15% and Frankfurt’s TecDAX, which tracks the performance of the 30 largest German technology companies, is up 27 points (1.03%).

Elsewhere, Tokyo’s Topix has move up 1.54%, while China’s CSI 300 and Shanghai Composite edged higher.

After strong earnings from major US banks like Goldman Sachs and Morgan Stanley, alongside a rally for tech shares spurred by Netlfix, which saw its share price rise as much as 16% in after-hours trading, Wall Street indices rebounded from Monday’s losses.

In fact, the S&P 500, Dow Jones Industrial Average and Nasdaq Composite witnesses one of the largest one-day gains since March.

IGA, may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IG Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.

Find articles by writer