Breaking News
Ad-Free Version. Upgrade your experience. Save up to 40% More details

World stocks on tap for 12th month of gains, dollar edges up

Stock MarketsOct 31, 2017 02:05PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters. FILE PHOTO: Traders work on the floor of the American Stock Exchange (AMEX) at the NYSE in New York

By Chuck Mikolajczak

NEW YORK (Reuters) - World stocks advanced on Tuesday and were poised for a record twelfth month of gains as Europe outpaced gains on Wall Street while the dollar edged up, on track for its best month of the year.

Wall Street had a choppy morning while European stocks closed at a 5 1/2-month high and a 1.8-percent gain for October, buoyed by data that showed euro zone growth of 2.5 percent year-on-year and unemployment at its lowest since early 2009.

Economic data in the U.S. was also positive, as consumer confidence jumped to a near 17-year high in October, with households upbeat about the labor market and business conditions.

Apple (O:AAPL) shares, up 1.35 percent, and strong earnings from Oreo cookie maker Mondelez (O:MDLZ), up 6.11 percent, boosted the S&P 500 while a 0.85-percent decline in Pfizer's (N:PFE) shares following the drugmaker's earnings weighed.

Apple shares gained after the first reviews of its iPhone X received mostly positive marks. The phone is scheduled for release on Friday, a day after the company is set to report earnings. Also on the tech front, Facebook (NASDAQ:FB) was scheduled to post results on Wednesday.

"Earnings have been the key driver," said Jeff Carbone, managing partner at Cornerstone Financial Partners. "We're going through a period without any major pullbacks and that must be warranted to the economic data and earnings."

With 306 of S&P 500 companies having reported earnings, 73 percent have topped Wall Street expectations, according to Thomson Reuters data, compared with the 72 percent average over the past four quarters.

The Dow Jones Industrial Average (DJI) rose 18.1 points, or 0.08 percent, to 23,366.84, the S&P 500 (SPX) gained 3.49 points, or 0.14 percent, to 2,576.32 and the Nasdaq Composite (IXIC) added 27.05 points, or 0.4 percent, to 6,726.02.

The dollar index (DXY), which measures the greenback against major currencies, was on track for its biggest monthly rise since November 2016.

However, investors also exercised caution ahead of announcements from the Bank of England and U.S. Federal Reserve, as well as the expected nomination of a new Fed chair on Thursday and Friday's U.S. jobs report.

The dollar index (DXY) rose 0.02 percent, with the euro down 0.03 percent to $1.1646.

U.S. Treasury prices were steady. Benchmark 10-year notes (US10YT=RR) last fell 1/32 in price to yield 2.3739 percent, from 2.37 percent late on Monday.

The 30-year bond (US30YT=RR) last rose 4/32 in price to yield 2.8746 percent, from 2.88 percent late on Monday.


The MSCI's 47-country 'All World' index (MIWD00000PUS) was set to top its 2003 run of 11 straight months of gains. It gained 0.14 percent Tuesday. The pan-European FTSEurofirst 300 index (FTEU3) rose 0.24 percent.

Oil prices advanced modestly as the prospect of increasing U.S. exports dampened bullish sentiment that has driven Brent to more than two-year highs above $60 per barrel.

U.S. crude rose 0.54 percent to $54.44 per barrel and Brent was last at $61.05, up 0.76 percent on the day.

World stocks on tap for 12th month of gains, dollar edges up

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email