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17 Oct 2013
Stocks recovered initial losses and rally on the day after shutdown
FXstreet.com (San Francisco) - Wall Street closed mostly higher on Thursday as the US stocks market recovered from initial losses and posted gains. The S&P 500 closed at record high while the Nasdaq finished at 13-year highs. The DJIA erased triple-digit loss to finish near flat on the day.
The stocks started day in a negative note as a Chinese agency downgraded US rating while Goldman Sachs and IMB missed earnings estimates. However, dovish Federal Reserve officials plus yesterday's debt deal helped confidence. USD traded down on the day and the US 10-year note fell 8 bp to 2.59%.
Google posted its Q3 earning report after hours and informed the tech giant beat estimates with EPS of $10.74 while expected $10.34. Revenues of $14.89B while estimates were at $14.79B.
The Dow Jones declined 2.18 points or 0.01% on the day to close at 15,371.65; the S&P 500 advanced 11.61 points or 0.67% to finish at record high at 1,733.15; and the Nasdaq Composite added 23.72 point or 0.62% to 3,863.15.
The stocks started day in a negative note as a Chinese agency downgraded US rating while Goldman Sachs and IMB missed earnings estimates. However, dovish Federal Reserve officials plus yesterday's debt deal helped confidence. USD traded down on the day and the US 10-year note fell 8 bp to 2.59%.
Google posted its Q3 earning report after hours and informed the tech giant beat estimates with EPS of $10.74 while expected $10.34. Revenues of $14.89B while estimates were at $14.79B.
The Dow Jones declined 2.18 points or 0.01% on the day to close at 15,371.65; the S&P 500 advanced 11.61 points or 0.67% to finish at record high at 1,733.15; and the Nasdaq Composite added 23.72 point or 0.62% to 3,863.15.