Wall Street up ahead of corporate earnings reports
www.chinaview.cn 2009-10-20 07:32:19   Print

    NEW YORK, Oct. 19 (Xinhua) -- Wall Street moved up on Monday, as investors awaited companies' earnings reports for clues about the economy's health.

    Earnings reports released so far indicated that companies continue to benefit from cost-cutting. Gannett Co. posted a profitable third quarter and its shares rose more than 4 percent in early trading. Toy maker Hasbro Inc. reported higher third-quarter profits, but also reported that its revenue fell.

    BB&T, the first regional bank reporting earnings this week, also beat earnings estimates. Financials erased early losses and pushed the big board higher.

    Later in the day, Apple Inc. and Texas Instruments Inc. are scheduled to release earnings. And 25 percent S&P components will report earnings this week. Texas Instruments climbed before reporting earnings.

    The Dow Jones rose 94.54 to 10,090.50. Broader indexes also went higher. The Standard & Poor's 500 index added 9.48 to 1,097.16 and the Nasdaq rose 17.93 to 2,174.73.

Special Report:  Global Financial Crisis

Editor: Fang Yang
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