Mon, 10 Aug 2020

Stocks rally across the world

Lola Evans
17 Apr 2019, 07:49 GMT+10

<p>NEW YORK, New York - Wall Street joined a worldwide rally in stocks on Tuesday, with all the major indices ending the day with gains.</p><p>Bank of America Corp, Johnson &amp; Johnson, and BlackRock Inc, surprised markets with higher earnings results than expected. There were reports however from others that came in below expectations.</p><p>&quot;You see different numbers and different drivers,&quot; John Lynch, chief investment strategist for LPL Financial in Charlotte, North Carolina told the Reuters news agency. &quot;We&rsquo;ve had some mixed messages from financials and healthcare.&quot;</p><p>UnitedHealth Group, which is facing regulatory concerns, went against the trend despite reporting earnings above what the market was expecting. Its shares dropped 4%.</p><p>Qualcom was the star of the day, rising 23% to $70.45, a near 20-year record daily gain. The company on Tuesday announced it had settled its long standing dispute with Apple, and had resumed its business trelationship with the iPhone-maker.</p><p>The Dow Jones Industrial Average climbed 67.89 points or 0.26% Tuesday, to close at 26,452.66.</p><p>The Standard and Poor&#39;s 500 rose 1.48 points or 0.05% to 2,907.06.</p><p>The Nasdaq Composite advanced 24.21 points or 0.3% to 8,000.23.</p><p>On foreign exchange markets on Tuesday the U.S. dollar rose against the euro, Swiss franc, British pound and Japanese yen, but fell against the commodity currencies.</p><p>The euro slipped to 1.1283, while sterling fell to 1.3045.</p><p>The Japanese yen dipped to 112.00. The Swiss franc eased to 1.0073.</p><p>The Canadian, Australian and New Zealand dollars however firmed to 1.3353, 0.7145 and .06766 respectvely.</p><p>Earlier in Europe, the FTSE 100 in London closed 0.44% higher. The German Dax rose 0.67%, while the Paris-based CAC 40 added 0.36%.</p><p>The <a href="">Shanghai Stock Exchange</a> was the star of the Asian market on Tuesday with the benchmark Shanghai Composite index rising 75.81 points or 2.39% to 3,253.30. In Tokyo, the Nikkei 225 added 52.55 points or 0.24% to 22,221.66, while the Hong Kong Hang Seng advanced 319.15 points or 1.07% to 30,129.87.</p><p>The Australian All Ordinaries rose 24.40 points or 0.38% to 6,372.30.</p>

Sign up for Ohio State News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!