Earnings, JOLTS Fuel Wall Street Rally - Adviser Investments

Earnings, JOLTS Fuel Wall Street Rally

Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Tuesday, October 16. Major U.S. stock indexes rebounded on positive earnings reports and record-high job openings data: The Dow Jones Industrial Average and S&P 500 gained 2.2% and the NASDAQ rose 2.9%. On the earnings front, Netflix was the big winner, advancing more than 11% in after-hours trading after raising fourth-quarter guidance and easily outperforming new subscriber expectations. Meanwhile, the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) revealed that August job openings and new hires both hit the highest point since the report’s December 2000 inception.

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