U.S. stocks advanced on Wednesday, with the S&P 500 closing at a record for the ...
Traders work, as a screen shows Federal Reserve Chairman Jerome Powell's news conference after the U.S. Federal Reserve interest rates announcement, on the floor of the New York Stock Exchange in New York, U.S., October 30, 2019. REUTERS/Brendan McDermid
Investors also dealt with the latest round of corporate earnings. Shares of General Electric Co jumped 11.47% after the industrial conglomerate beat quarterly profit estimates and raised its cash forecast for the year. U.S. economic growth slowed less than expected in the third quarter, a Commerce Department report showed, as declining business investment was offset by resilient consumer spending and a rebound in exports, further allaying financial market fears of a recession.
About 74.1% of the 278 S&P 500 companies that have reported so far have beaten profit estimates, according to Refinitiv data.
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