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Positive earnings push stocks higher

Tuesday, October 18, 2016 - 01:25

Companies, ranging from Domino's to Goldman Sachs, turned in quarterly results that brought the bulls out Tuesday. Jeanne Yurman reports.

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Amid concerns about a tenuous buyout offer from Verizon, Yahoo! reported third quarter profit beating analyst estimates. In Tuesday's session stocks pushed higher, thanks to a slew of market-beating results from big name companies. But to hold onto gains, Tim Anderson of TJM Investments says he'd like to hear more. SOUNDBITE: TIM ANDERSON, MANAGING DIRECTOR, TJM INVESTMENTS (ENGLISH) SAYING: "You know, we'd like to see some consistency, to, you know, earnings, maybe not just beating expectations, but guidance for the remainder of the year, and into next year being a little bit positive also." Goldman Sachs is the latest major bank to get a financial jolt from an increase in trading on Wall Street. Its profit jumped early sixty percent in the third quarter on stronger trading revenue. Domino's bucking the lagging trend of other restaurant chains, reported growth in profit and sales. While, consumer prices posted the biggest gain in five months in September with the cost of gasoline and housing surging last month. Also rising, the Social Security Administration outlined a cost of living increase by a third of a percent for next year. Overseas European stocks bounced back from Monday's losses helped by gains in commodities.

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Positive earnings push stocks higher

Tuesday, October 18, 2016 - 01:25