US open: Stocks rebound as traders look past shutdown to Q3 earnings

Wall Street trading got off to a positive start on Friday as the Federal government shutdown dragged into its tenth day.

Source: Sharecast

As of 1445 BST, the Dow Jones Industrial Average was up 0.58% at 46,628.27, while the S&P 500 advanced 0.37% to 6,760.20, and the Nasdaq Composite came out of the gate 0.38% firmer at 23,112.51.

The Dow opened 269.85 points higher on Friday, reversing losses recorded in the previous session as investors continued to digest minutes from the Federal Reserve's September meeting, which confirmed a 25-basis point rate cut and revealed a split among policymakers over the path ahead.

The US Federal government remained shut down on Friday after the Senate failed for a seventh time to pass a stopgap funding bill on Thursday, with little sign of progress in negotiations between Republicans and Democrats, with the ongoing stalemate delaying key economic data releases.

Positive earnings updates from Delta Air Lines and PepsiCo offered some reassurance on consumer demand, but failed to spark a broader rally, with attention now turning to next week and the beginning of Q3 earnings season, with major banks including Citigroup and JPMorgan set to report throughout the week.

US chipmaker Qualcomm traded lower on Friday after Chinese regulators said they would investigate its acquisition of Israeli firm Autotalks, adding to tensions between Washington and Beijing ahead of high-level talks later this month. China's State Administration of Market Regulation said it suspects Qualcomm of breaching anti-monopoly laws in relation to the deal, which officially closed in June.

No major earnings were scheduled for release on Friday.

On the macro front, a preliminary reading of the University of Michigan's consumer sentiment index will be published at 1500 BST.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Intel Corp. (INTC) $39.42 4.29%
Apple Inc. (AAPL) $255.32 0.50%
JP Morgan Chase & Co. (JPM) $305.86 0.00%
American Express Co. (AXP) $325.20 0.00%
Cisco Systems Inc. (CSCO) $69.96 0.00%
Merck & Co. Inc. (MRK) $87.93 0.00%
Procter & Gamble Co. (PG) $150.58 0.00%
Dow Chemical Co. (DOW) $22.12 0.00%
Visa Inc. (V) $347.04 0.00%
Unitedhealth Group Inc. (UNH) $369.26 0.00%

Dow Jones - Fallers

Coca-Cola Co. (KO) $66.59 0.00%
Amgen Inc. (AMGN) $295.43 0.00%
JP Morgan Chase & Co. (JPM) $305.86 0.00%
American Express Co. (AXP) $325.20 0.00%
Cisco Systems Inc. (CSCO) $69.96 0.00%
International Business Machines Corporation (CDI) (IBM) $288.00 0.00%
Verizon Communications Inc. (VZ) $40.26 0.00%
Procter & Gamble Co. (PG) $150.58 0.00%
Dow Chemical Co. (DOW) $22.12 0.00%
Visa Inc. (V) $347.04 0.00%

S&P 500 - Risers

Intel Corp. (INTC) $39.42 4.29%
PepsiCo Inc (PEP) $148.32 2.50%
Dollar Tree Inc (DLTR) $90.63 1.81%
J.B. Hunt Transport Services Inc. (JBHT) $144.64 1.42%
Starbucks Corp. (SBUX) $80.87 1.37%
Gilead Sciences Inc. (GILD) $118.09 1.16%
Fastenal Co. (FAST) $47.24 1.13%
Charter Communications Inc. (CHTR) $267.76 1.04%
Ipg Photonics Corp. (IPGP) $87.56 1.02%
T. Rowe Price Group Inc. (TROW) $107.04 0.98%

S&P 500 - Fallers

Align Technology Inc. (ALGN) $128.85 -2.29%
DENTSPLY Sirona Inc. (XRAY) $12.02 -1.64%
Seagate Technology Plc (STX) $218.58 -1.41%
Diamondback Energy Inc. (FANG) $142.40 -1.26%
Apache Corp. (APA) $23.38 -1.18%
Illumina Inc. (ILMN) $95.34 -1.15%
Expedia Group Inc. (EXPE) $214.90 -0.88%
Huntington Bancshares Inc. (HBAN) $16.23 -0.70%
Micron Technology Inc. (MU) $191.30 -0.54%
eBay Inc. (EBAY) $89.67 -0.51%

Nasdaq 100 - Risers

Intel Corp. (INTC) $39.42 4.29%
Trip.com Group Limited (TCOM) $73.32 3.10%
NetEase Inc. Ads (NTES) $154.77 2.07%
Dollar Tree Inc (DLTR) $90.63 1.81%
J.B. Hunt Transport Services Inc. (JBHT) $144.64 1.42%
Starbucks Corp. (SBUX) $80.87 1.37%
Gilead Sciences Inc. (GILD) $118.09 1.16%
Fastenal Co. (FAST) $47.24 1.13%
Tesla Inc (TSLA) $440.27 1.09%
Charter Communications Inc. (CHTR) $267.76 1.04%

Nasdaq 100 - Fallers

Align Technology Inc. (ALGN) $128.85 -2.29%
Baidu Inc. (BIDU) $129.66 -2.07%
DENTSPLY Sirona Inc. (XRAY) $12.02 -1.64%
Seagate Technology Plc (STX) $218.58 -1.41%
Illumina Inc. (ILMN) $95.34 -1.15%
Asml Holdings N.V. (ASML) $970.55 -1.02%
Mercadolibre Inc. (MELI) $2,253.24 -0.96%
Expedia Group Inc. (EXPE) $214.90 -0.88%
Micron Technology Inc. (MU) $191.30 -0.54%
eBay Inc. (EBAY) $89.67 -0.51%

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