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Wall Street up on better than feared earnings, shrugs off Doha

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Wall Street shrugged off the Doha news and U.S. stocks ended higher on Monday.

    The lead into the week came of the weekend meetings between major producers in Doha, Qatar on Sunday who failed to make any agreements on a freeze in oil output.

    Crude oil and energy stocks that were trading at worse levels managed a rebound, despite there being no deal arranged yesterday as markets came back to terms for lower oil for longer, perhaps moving on from the tyranny of oil and questioned what effect such a freeze may have otherwise had, with output at near record highs as it is.

    Meanwhile, investors on Wall Street turned back to equities and took up the upbeat and better-than-expected earnings reports from major plays such as Pepsi Co and Morgan Stanley. For the rest of the very busy US corporate earnings calendar this week, see here: Some key events for rest of week - UOB

    Meanwhile, the S&P 500 gained 9 points, or 0.5%, to 2,090. The Dow Jones Industrial Average followed suit and added83 points, or 0.5%, to 17,980. The Nasdaq Composite rose just 11 points, or 0.2% to 4,949.
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