Stock Market Today: Dow Rises as Earnings Season Continues
The Dow Jones Industrial Average rose on Friday, with the S&P 500 also gaining ground, while the Nasdaq Composite remained flat. The Federal Reserve's decision on interest rates is expected later in the day, which could impact the market's trajectory.
The strong earnings season has continued, with about 40% of S&P 500 companies having reported third-quarter results. According to data from LSEG Data and Analytics, the aggregate earnings growth rate has increased to 31.8%, surpassing the initial expectations of 30.6% as of October 1. A notable 83.5% of companies have beaten earnings expectations, with an average beat of 5.7%, exceeding the long-term average of 68% beating by 4.4%. The upcoming earnings reports from Alphabet and Microsoft, due after the closing bell, are expected to contribute to this positive trend. Alphabet's earnings are forecast to rise 90.6% from last year, while Microsoft's earnings are seen increasing 14.4%.
