US stocks are holding steady following better-than-expected profit reports from Morgan Stanley, United Airlines and other big companies.
US stocks bounced back following better-than-expected profit reports from Morgan Stanley, United Airlines and other big companies to regain much of their losses from the day before.
They helped offset a 2.5 per cent drop for Citizens Financial Group, which reported weaker results for the latest quarter than analysts expected. ASML CEO Christophe Fouquet said Tuesday that artificial intelligence continues to offer strong upside potential, but “other market segments are taking longer to recover.” That helped lead to slides of 3.5 per cent for Broadcom and 4.7 per cent for Nvidia on Tuesday. A day afterward, both were rising, and Nvidia’s gain of 3.1 per cent was the strongest single force pushing upward on the S&P 500.
Stock indexes were mixed across the rest of Asia and Europe. In London, the FTSE 100 rose 1 per cent after the government reported UK inflation eased in September to its lowest level in more than three years. That reinforced expectations that the Bank of England will cut interest rates at its next policy meeting.
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