TELETRADER News
10/20, 10:01 PM (Source: TeleTrader)
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US closes mostly higher amid earnings season

Major equities on Wall Street closed mostly higher on Wednesday following fresh record highs from Dow Jones as investors focused on earnings reports. Highly anticipated Tesla and IBM are scheduled for their releases after the markets close, while Verizon and Abbott Laboratories each earlier reported positive growth in revenue.

Federal Reserve published its October's Beige Book, saying most districts increased their economic activity at a modest to moderate rate, while other areas had a slower recovery due to "supply chain disruptions, labor shortages." Treasury Secretary Janet Yellen also described the labor market as "very tight."

The Dow closed with 0.43% in the green led by UnitedHealth adding 2.52%, while S&P 500 gained 0.37% with Anthem jumping by 7.70%. The Nasdaq 100 dropped by 0.14% as Paypal Holdings lost 4.91% on reports of Pinterest acquisition. The euro advanced by 0.15% against the dollar exchanging hands for $1.16510 at 3:53 pm ET.

Baha Breaking the News (BBN) / LH