By Sruthi Shankar
(Reuters) – The Nasdaq extended the rally on Thursday, as strong earnings from Facebook Inc (NASDAQ 🙂 added to optimism following the Federal Reserve's dovish remarks, while the investor waited for the outcome of the U.S.-China trade talks.
Facebook jumped 12.2 percent, on the top of the day.
General Electric (NYSE 🙂 Co soared 14.7 percent after industrial conglomerate beat and exponential sales and cash flow in 2019.
Stocking took heart from the Fed's Pledge on Thursday.
Scot Lance, Managing Director at Titus Wealth Management in Larkspur, California.
With the fourth-quarter earnings in the market, the S&P 500 is the best monthly performance since October 2015.
Of the 210 S&P 500, according to Refinitiv data.
Investors are awaiting the high-level talks between the US and China.
U.S. President Donald Trump expressed his optimism about the trade talks, but he did not know the final deal.
"There is a lot of wishful thinking about the economy," said Lance.
At 12:57 p.m. The S&P 500 was up 18.56 points, or 0.69 percent, at 2,699.61, and was 95.79 points, or 1.33 percent, at 7,278.87.
The S&P communications services sector gained 3.68 percent, leading gains among the 11 major S&P sectors.
Charter Communications Inc. (NASDAQ 🙂 jumped 14.6 percent after topping quarterly earnings.
The Dow was dragged down by losses in DowDuPont Inc., which hit 8.5 percent after the loss. The S&P materials sector dropped 1.4 percent.
Microsoft Corp. (NASDAQ 🙂 declined 1.4 percent of its cloud computing sales growth at a slower pace than a year earlier.
Intel Corp. (NASDAQ 🙂 slipped 2.2 percent after the chipmaker named Chief Executive Officer Robert Swan to the role on a permanent basis.
The 2.47-to-1 ratio on the NASDAQ is the 2.47-to-1 ratio on the NASDAQ.
The S&P index recorded 23 new 52-week highs and new lows, while the Nasdaq recorded 38 new highs and 18 new lows.