Wall Street gained ground on Thursday as positive geopolitical developments and ...
NEW YORK - Wall Street gained ground on Thursday as positive geopolitical developments and a string of corporate earnings beats put investors in a buying mood.
Positive statements from Beijing and Washington raised hopes that a phased agreement could be reached to resolve the market-rattling trade war between the world’s two largest economies. Analysts currently see third-quarter S&P 500 earnings dropping by 2.9%, according to Refinitiv I/B/E/S, marking the first contraction since the earnings recession that ended mid-2016.
“Earnings have been above expectations,” Nolte added. “ a millipede could get over those expectations, the bar has been set so low.”
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