Major US stock indices rose significantly, helped by a rebound in the technology sector amid optimism about the US-China trade dispute and some positive corporate earnings reports.
Investors also focused on US data, which indicated that the Conference Board's consumer confidence index rose again in October. The index now stands at 137.9, compared with 135.3 in September (revised from 138.4). The current situation index rose from 169.4 to 172.8, and the expectations index increased from 112.5 to 114.6. "Consumer confidence increased in October, after a slight improvement in September, and remains at a level that was last observed in the fall of 2000. Consumer assessment of current conditions remains quite positive, primarily due to strong employment growth. The expectations index recorded another gain in October, suggesting that consumers do not foresee that the economy will lose momentum in the near future. Rather, they expect high growth rates to continue in early 2019, "said Lynn Franco, director of economic development in the Conference Board
Most of the components of DOW recorded an increase (26 of 30). The growth leader was Intel Corporation (INTC, + 4.87%). Outsiders were the shares of International Business Machines Corporation (IBM, -3.30%).
Almost all sectors of the S & P finished the sale in the black. The base materials increased the most (+ 1.8%). The decline showed only the conglomerates sector (-0.2%).
At the time of closing:
Dow 24,874.95 +432.03 +1.77%
S & P 500 2,682.63 +41.38 +1.57%
Nasdaq 100 7,161.65 +111.36 +1.58%