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Barchart
Barchart
Rich Asplund

Stocks Boosted by Strength in Chipmakers and Earnings Optimism

The S&P 500 Index ($SPX) (SPY) on Wednesday closed up +0.40%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.04%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.68%.  December E-mini S&P futures (ESZ25) rose +0.43%, and December E-mini Nasdaq futures (NQZ25) rose +0.72%.

Stock indexes mainly settled higher on Wednesday as better-than-expected quarterly earnings results sparked risk-on sentiment in equity markets. Strength in chipmakers led the broader market higher, as ASML Holding closed up more than +2% after reporting stronger-than-expected Q3 new orders.  Also, Morgan Stanley and Bank of America closed up more than +4% after reporting solid Q3 earnings.

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