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Nasdaq and S&P 500 close at record highs, Ford jumps 8% as strong earnings boost stocks

The stock market reached record levels on Thursday as strong earnings from major companies bolstered investor confidence.

 

The S&P 500 added 0.98% to close at a record high of 4,596.42, and the tech-heavy Nasdaq Composite jumped 1.39% to close at its own record of 15,448.12. The Nasdaq also notched an intraday record high.

The Dow Jones Industrial Average rose 239.79 points, or 0.68%, to finish at 35,730.48, just under its all-time high.

 

European shares inch higher on strong earnings, ECB maintains status quo

European stocks closed slightly higher on Thursday, buoyed by robust earnings from food and technology stocks, as the European Central Bank kept its massive stimulus taps open and maintained its view that a recent spike in inflation would be temporary.

The pan-European STOXX 600 closed 0.2% higher with food and beverage and technology sectors gaining 1.6% and 1.3%, respectively.

European stocks are still set for strong gains in October on a swathe of positive earnings, which pushed the STOXX 600 close to record highs.

Profits for Europe Inc are expected to increase 52% in the third quarter from last year, according to Refinitiv data.

 

 

Reference: CNBC, Reuters