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Market Update

U.S. Consumer Confidence at 7-year High, Durable Goods Orders Fall Again


Author: Nichole Harper
ticker.com
Last Update: 1:48 PM ET October 28 2014

1:50 PM New York Ė U.S. stocks traded higher and after a barrage of positive earnings. U.S. consumer confidence index increased to a seven-year high. Durable goods orders declined for the second month in a row in September.

U.S. market indexes advanced after positive earnings from Amgen, Pfizer, T-Mobile and Whirlpool and consumer confidence index increased to a seven-year high.

Markets in Europe traded mixed and commodities prices eased in New York.

U.S. consumer confidence index increased in October as Americans enjoyed lower price at the gas pump. The consumer confidence index tracked by the Conference Board increased to 94.5 from the upwardly revised 89 in September.

Durable goods orders in September declined 1.3% following 18.3% plunge in August, the Commerce Department said today.

The orders declined back-back two months for the first since the weather related slowdown in December and January.

Tollbooth Index jumped 0.7% or 69.15 to 9,362.09.

S&P 500 index increased 0.6% or 12.10 to 1,973.73 and the Nasdaq Composite Index rose 1.1% or 51.40 to 4,537.33.

U.S. Movers

Aetna Inc (AET) dropped 2.7% or $2.19 to $76.99 after the healthcare benefits company reported total revenue in the third-quarter ending in September climbed 13% to $14.73 billion from a year ago period.

Net income in the quarter soared 15% to $594.5 million or $1.67 a diluted share compared to $518.6 million or $1.38 from a same quarter last year.

Kohlís Corp plunged 7.5% to $54.13 after the department store operator lowered its full-year earnings outlook to the lower end of range between $4.05 and$4.45 a share.

Pfizer Inc (PFE) slid 9 cents to $28.94 after the research-based biopharmaceutical company reported revenue in the third-quarter ending in September fell 2% to $12.36 billion from a year ago period.

Net income in the quarter jumped 3% to $2.7 billion or 42 cents a diluted share compared to $2.6 billion or 39 cents from a same quarter last year.

Twitter Inc plunged 10% to $43.80 after the social network operator said quarterly net loss widened to $175.5 million from $64.6 million. And, active month users increased 23% to 284 million, and growth eased from 24% in the quarter a year ago.

European Markets

In London trading, FTSE 100 index increased 0.6% or 37.37 to 6,400.83 and in Frankfurt the DAX index climbed 1.5% or 137.73 to 9,040.34.

In Paris, CAC 40 index jumped 0.7% or 26.63 to 4,123.37.

BP Plc gained 0.6% to 432.95 pence after the U.K.-based oil and gas reported total revenue in the third-quarter ending in September dropped 3.5% to $94.77 billion form $98.20 billion a year ago period.

Net income in the quarter declined 63.2% from a year ago to $1.32 billion compared to $3.59 billion and diluted earnings per share dropped to 42 cents from $1.11.

BP reported underlying net income from Rosneft in the quarter tumbled to $110 million from $808 million a year ago period and total cumulative pre-tax charges for the Gulf of Mexico oil spill remained at $43 billion at the end of the quarter.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc