US Equity Markets End Higher as Investors Parse Upbeat Earnings Reports

MT Newswires Live
Yesterday

US benchmark equity indexes ended higher on Wednesday as investors parsed positive earnings reports from major companies, and after Apple shares rose following reports of the company's plans to increase US investment.

* Higher earnings from major companies continued to show strong momentum, with 81% of S&P 500 companies so far beating expectations, CNBC reported, citing FactSet data. McDonald's (MCD) shares were up about 3% after its Q2 results topped estimates on both revenue and profit, with same-store sales growing at their fastest pace in nearly two years.

* President Donald Trump will announce on Wednesday that Apple (AAPL) has confirmed plans to invest an additional $100 billion in US manufacturing, multiple media outlets reported, citing a White House spokesperson. The new commitment will raise Apple's total domestic investment to $600 billion over the next four years. Shares of the iPhone maker were up about 5.3% following the confirmation.

* September West Texas Intermediate crude oil fell $1.11 to settle at $64.05 per barrel, while October Brent crude, the global benchmark, was last seen down $1.05 to $66.59.

* Arista Networks (ANET) shares were up nearly 18% following a better-than-expected Q2 earnings report and a better-than-expected Q3 outlook.

* Super Micro Computer (SMCI) shares fell 18% after the chip maker reported fiscal Q4 results late Tuesday that came in below analysts' expectations.

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