Stock Market News For Oct 17, 2017
Zacks Investment Research | Oct 16, 2017 09:57PM ET
Markets finished higher on Monday following a spectacular run by all the benchmark indexes. Moreover, strong expectations from third quarter earnings boosted broad based gains for the markets. Meanwhile, Netflix reported strong earnings in the third quarter, which also bolstered the major indexes. However, Trump’s comments on the Iran nuclear deal weighed on investor sentiment.
The Dow Jones Industrial Average (DJIA) closed at 22,956.96, gaining 0.4%. The S&P 500 Index (INX) increased 0.2% to close at 2,557.64. Meanwhile, the Nasdaq Composite Index (IXIC) closed at 6,624, increasing 0.3%. A total of 5.5 billion shares were traded on Monday, lower than the last 20-session average of 5.9 billion shares. Declining issues outnumbered advancers on the NYSE by 1.02-to-1 ratio. On the Nasdaq, decliners outnumbered advancers by 1.10-to-1 ratio. The CBOE VIX increased 2.6% to close at 9.86.
Apple, JPMorgan Catapults the Dow Higher
The Dow amassed 85.24 points on Monday to end in positive territory. Gains for the blue chip index were boosted by a rise in shares of both JPMorgan (NYSE:JPM) and Apple, Inc. (NASDAQ:AAPL) . Shares of JPMorgan rallied 2% and added to most of the gains for the Dow. There was an uptick of 1.8% in shares of Apple after analysts from KeyBanc Capital Markets rated the stock as overweight on expectations that the tech giant would far exceed earnings expectations in 2018. You can see Zacks Investment Research
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