[5:10 PM New York City, New York – Stocks on Wall Street traded higher after earnings were ahead of expectations. After the close Microsoft, Alphabet and Amazon soared more than 9% after reporting stronger than expected earnings. European markets were cautiously optimistic ahead of the ECB meeting tomorrow.
Stocks on Wall Street traded higher after several companies including McDonald’s reported better than expected earnings.
Seasonally adjusted weekly jobless claims increased 3,000 to 259,000 from the previous week’s revised claims of 256,000.
The preliminary insured unemployment rate in the week ending October 10 was 1.6% unchanged from the prior week''s unrevised rate, the Department of Labor said.
On Wall Street, Tollbooth Strategy Index jumped 159.37 or 1.5% to 10,757.10.
S&P 500 index increased 33.18 or 1.6% to 2,052.11 and the Nasdaq Composite Index rose 77.31 or 1.6% to 4,917.58.
Crude oil in New York edged down 0.05 cents to $45.15 a barrel and gold edged up 0.22 cents to $1,167.40 an ounce.
) soared 4% or $6 to $155.82 after the diversified technology company reported net sales in the third-quarter ending in September declined 5.3% from a year ago to $7.71 billion.
Net income in the quarter were flat at $1.30 billion from a year ago and diluted earnings per share increased to $2.05 compared to $1.98 in the same quarter last year.
The company forecasted earnings per share for the year in the range of $7.73 to $7.78 and plans to reduce 1,500 jobs under global restructuring program.
Eli Lilly and Co
) fell 45 cents to $76.56 after the drug manufacturer said revenues in the third-quarter ending in September rose 2% from a year ago to $4.96 billion.
Net income in the quarter soared 60% to $799.7 million or 75 cents per diluted share compared to $500.6 million or 47 cents from the same quarter last year.
The company lifted earnings per share forecast in the range of $3.40-$3.45 from the earlier estimated range of $3.20 to $3.30 and revenue between $19.7 billion and $20 billion.
) jumped 7.4% or $7.56 to $110.10 after the quick service restaurants operator reported revenues in the third-quarter ending in September declined 5% from a year ago to $6.62 billion.
Net income in the quarter surged 23% to $1.31 billion or $1.40 per diluted share compared to $1.07 billion or $1.09 from the same quarter last year.
Global comparable sales in the quarter jumped 4% and U.S. comparable sales edged up 0.9% while international lead markets comparable sales soared 4.6% in Australia, the U.K. and Canada and in Germany.
McDonald''s said comparable sales in the high growth markets segment soared 8.9% reflecting very strong comparable sales performance in China.
U.K. retail sales volume in September increased 1.9% from August and surged 6.5% from a year ago month.
Amount spent in the retail industry rose to £34.2 billion and online sales jumped 15.2% from a year ago month, the Office for National Statistics said.