China lowers interest rates, markets soar

China’s central bank lowered interest rates to send the markets soaring with the Dow surging 108 points to 17,598. Nasdaq jumped 92 points to 5,012.

On the upside

Microsoft (Nasdaq: MSFT) reported higher first quarter earnings that topped analyst estimates.

Amazon (Nasdaq: AMZN) reversed year ago losses to post an unexpected profit for the third quarter as revenue surged.

Google parent Alphabet (Nasdaq: GOOG) reported higher third quarter earnings and revenue that beat expectations.

On the downside

Pandora Media (NYSE: P) widened third quarter losses more than expected prompting downgrades.

Skechers (NYSE: SKX) disappointed with third quarter earnings and revenue that fell short of analyst expectations.

Fortinet (Nasdaq: FTNT) reported higher third quarter earnings and revenue but investors were disappointed that the company forecast current quarter results that merely met expectations.

 

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 climbed 18 points to 2,070. Bitcoin added $3 to $274.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.