U.S stocks rose higher on Tuesday as investors welcomed more solid earnings reports. According to NextCandle.com's forecast, U.S indices should keep climbing on Wednesday as well: the Dow was given a 68% probability of hitting a higher target, edging up from 13551.78 to 13556.37; the S&P 500 was also given a 67% probability of hitting a higher target, inching up from 1454.92 to 1455.51. Nasdaq was given a 74% probability of hitting a higher target, ascending from 3101.17 to 3102.97.
Strong Earnings Reports Maintain Upbeat Trading
U.S. stocks finished higher on Tuesday as investors welcomed a stream of solid earnings reports, all the while taking in the latest inflation data. Stronger-than-expected earnings reports from various companies such as Goldman Sachs (GS), Johnson & Johnson (JNJ), Mattel (MAT) and UNitedHealth (UNH), were what spurred more upbeat market movement.
On the other hand, inflation data was also released on Tuesday, indicating that September's Consumer Price Index, a key inflation indicator, rose 0.6%, as opposed to the predicted 0.5% increase. Prices have risen 2% this year, as opposed to the forecast 1.9% increase. As a result, the Social Security recipients are to receive a 1.7% increase in their benefits for 2013.
Global Stocks Move Up
U.S indices gained ground on Tuesday as encouraging data and earnings reports gave investors a boost: the S&P 500 added 1.03%, from 1440.13 to 1454.92; the Dow rose 0.95%, from 13424.23 to 13551.78. Finally, Nasdaq gained 1.21%, from 3064.18 to 3101.17.
European stocks finished with solid gains on Tuesday as well: Germany's DAX rose 1.58%, France's CAC 40 surged 2.36%, and finally Britain's FTSE 100 gained 1.12%. Across the Pacific, Asian stocks ended in positive territory on Tuesday: the Shanghai Composite finished flat, Hong Kong's Hang Seng added 0.28%, and finally Japan's Nikkei rose 1.44%.