After The Bell: Markets Recover

Andy Giersher
October 25, 2018 - 7:59 pm

CHICAGO (WBBM NEWSRADIO) -- Stocks climbed higher Thursday as financial markets recovered much of the steep losses posted early in the week.

The S&P 500 gained 49, the NASDAQ surged 209 and the Dow Jones industrial average closed up over 400 points, settling to 24,984.

"Today it was all about earnings,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “We are in the middle of earnings season, and this week about 50 to 60 percent of S&P 500 companies report. 

So, We are getting a ton of information from a wide variety of companies on earnings, revenue and more importantly, outlooks going forward.  So, the guidance a lot of companies are giving are really is what Wall Street is kind of hanging there hat on here, given the tumult of higher interest rates and trade tariffs.

He added that buying shares of consumer names like Philip Morris (PM), Kimberly-Clark (KMB) and Procter & Gamble (PG) make a lot of sense at current levels.