Wall Street regains some ground, poised to resume rally on Friday

  • Indexes closed mixed, but after-hours earnings report beat expectations.
  • US equities could resume their rally to record highs on Friday, US Q3 GDP eyed.

Wall Street closed mixed, with the DJIA adding 71 points, to end at 23,400 86 and the S&P adding 3 points, to 2,560.40, but the Nasdaq Composite shedding 7 points, to close in the red at 6,566.77. Nevertheless, Amazon, Microsoft and Intel, all reported upbeat earnings per share right after the close, which should translate in a sharp advance on the Nasdaq early Friday. Expedia's earnings were a miss, with the company down 7% in after-hours trading.  Within the Dow, the best performer was Nike, up 3.40%, followed by DowDuPont that added 2.76%.

Major indexes, however, remain near record highs, boosted by renewed expectations that Fed's head replacement will be a hawk after rumors made the rounds earlier today that only Powell and Taylor are left in the run. Investors will be looking not only to earnings reports this Friday but also the advanced Q3 GDP figure, as a strong number there could fuel the rally further.

US Treasury yields that fell ahead of the opening amid ECB's announcement to trim its bond-purchasing program, recovered during the American afternoon to close barely up. The 10-year note benchmark settled at 2.45% from previous 2.44%, while the 30-year note interest ended flat at 2.96%.

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