After The Bell: Stocks Surge After Last Week's Selloff

Andy Giersher
October 16, 2018 - 6:07 pm

CHICAGO (WBBM NEWSRADIO) -- Stocks closed sharply higher Tuesday after better-than-expected earnings from several U.S. corporate giants helped the market recover from last week's sell-off.

The S&P 500 added 59, the Nasdaq gained 214 and the Dow Jones industrial average closed up nearly 550 points, settling to 25,798.  All three of the major indices gained 2 percent or more.

"It's very early in the earnings season, but the earnings that came out today were good and they were kind of across the board,” Chuck Carlson, CEO of Horizon Investment Services, said.

The earnings of companies such as Walmart, United Health and Adobe “pleased investors,” he said.

He adds that he finds shares of Fedex (FDX), Zebra Technologies (ZBRA), Comcast (CMCSA), Zions Bancorp (ZION), Southwest Airlines (LUV) and Progressive (PGR) attractive at current levels.