Stock indexes advanced on strong Q3 earnings as Intel topped analyst expectations and issued better-than-expected guidance for Q4. Intel shares shot up 7.4%, offsetting negativity in the tech sector due to Amazon’s weak numbers.
In addition to earnings, market optimism seems to be supported by news from Washington that US trade representatives will be conversing with Chinese officials today by telephone to finalize details on the first phase of a trade deal.
Currently, at 11:45 am ET, the Dow is up 187.17 points, up 0.70% to 26,992.70. The S&P 500 is heading toward a record close, currently up 16.48 points or 0.55% to 3,026.83. The Nasdaq rose 61.15 points or 0.74% to 8246.95.
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