Finance Finance News Global markets lift as US corporate earnings season delivers some surprises

Global markets lift as US corporate earnings season delivers some surprises

Markets on Wall Street and in Europe lift amid better-than-expected corporate profit reports.
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Wall Street rallied overnight, with some better-than-expected corporate profit results off-setting a mixed bag of economic data.

Ford unveiled earnings which beat market projections and Southwest Airlines delivered operating revenue that was in line with forecasts.

In official economic news, Chinese manufacturing output strengthened in October, but US factory production expanded at a slower pace than was forecast this month.

Elsewhere, a report revealed euro zone services and manufacturing grew by a smaller amount than was expected.

The Dow Jones Industrial Average closed up 0.6 per cent to 15,509.

The S&P 500 gained 0.3 per cent to finish at 1,752 and the Nasdaq added 0.5 per cent to 3,928.

European markets also made gains in the overnight trading session.

In Germany, the DAX 30 rose 0.7 per cent to set a new record close of 8,980.

London’s FTSE 100 added 0.6 per cent to 6,713.

The Australian dollar edged lower overnight and at 6.40am (AEDT), it was worth 96.19 US cents.

It was buying 69.72 euro cents, 59.38 British pence, 93.59 Japanese Yen and $NZ1.15.

West Texas Crude Oil was lower at $US96.62 a barrel, the price of a barrel of Tapis had fallen to $US115.62, but spot gold had rallied to $US1,346.45 an ounce.