US stocks turn positive on earnings, rate cut hopes

Thursday, 18. July 2019 21:12

Stocks in the United States turned positive on Thursday after several Federal Reserve officials spoke in favor of a rate cut. Investors also digested earnings from Philip Morris, United Health, Morgan Stanley and Blackstone and awaited Microsoft's quarterly report due after the bell.

After falling over 100 points earlier in the session, the Dow Jones added 0.08% at 3:12 pm ET. IBM led the gains, soaring 4.98% at 3:10 pm ET after the company posted better-than-expected results.

The Nasdaq 100 rose 0.23% at 3:14 pm ET as Liberty Global surged 6.27% at 3:15 pm ET after the European Commission approved Vodafone's acquisition of the company.

The S&P 500 gained 0.32% at 3:18 pm ET. Philip Morris was the best performer, skyrocketing 8.91% at 3:12 pm ET after reporting a 5.7% jump in EPS.

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