Wall Street rally pauses in early trade

The S&P 500 industrials index rose 0.7 per cent, leading all major groups. The No.1 USA automaker reported stronger-than-expected earnings, reaffirmed its full-year earnings forecast and promised to slash stocks of unsold vehicles. The Dow Jones Industrial Average set another new record high after strong earnings from heavy-hitters Caterpillar (CAT) and 3M (MMM).

The S&P 500 index fell 5 points to 2,563.66, while the Nasdaq index dipped 10.7 points or to 6,587.66. Markets have been gaining ground recently, helped by low interest rates and promises of USA tax reform from the Trump administration. MSCI's broadest index of Asia-Pacific shares outside Japan closed 0.14% higher, while Japan's Nikkei lost 0.45%.

AT&T Inc. (T) is among the big names that will move on earnings news today.

Shares of Boeing fell 2.85 percent to $258.42, after the company reported net profit of $1,853 million in the third quarter, down about 19 percent compared to the same period past year. Earnings for the company also failed to meet Wall Street estimates.

Before the opening bell, Coca-Cola Company announced 2017 third-quarter net profit of $1.45 billion or 33 cents per share, up from $1.05 billion or 24 cents per share for the same period past year.

USA industrial sector roared to a record high on Tuesday following strong financial results from stalwarts 3M Co. and Caterpillar Inc, even as shares of General Electric Co continued to struggle. On average, 23 analysts polled by Thomson Reuters expected earnings of $0.75 per share for the quarter.

Yields extended gains after data showing new orders for key USA -made non-defense capital goods rose 1.3 percent last month.

European shares closed lower, with a mixed batch of company results sparking profit-taking, a day before the European Central Bank is expected to signal a reduction in its bond-buying scheme, gradually withdrawing post-crisis stimulus.

United States long-dated treasury yields rose to multi-month highs, boosted by a strong USA durable goods report, optimism about tax reform and the upcoming announcement of President Donald Trump's nominee to head the Federal Reserve.

Benchmark 10-year note yields hit seven-month highs, with the price last down 8/32 in price to yield 2.4353 percent, from 2.406 percent late on Tuesday. The No.1 US automaker reported stronger-than-expected earnings, reaffirmed its full-year earnings forecast and promised to slash stocks of unsold vehicles.

Like this



26 October 2017
Ofcom: BT will cut phone bills by 37pc to protect pensioners
UK's telecom industry is now watching for the response from BT rivals after BT's decision to cut monthly line rental price by £7. BT are said to have made the moved voluntarily following recommendations from the regulator.

26 October 2017
All set for 2.0 audio event in Dubai
Going by the posters and the grand audio launch, one can say that Robot 2.0 is sure going to be one of the grand films of 2018. It was also claried that "2.0" was not made for the sake of doing a part 2 and also that it's not an extension of "Endhiran".

26 October 2017
Former Florida State LB Telvin Smith gets lucrative National Football League contract extension
For his career, he has totaled 315 tackles, 6.5 sacks, six interceptions and four forced fumbles in 46 starts. Smith is the second member of the Jaguars' 2014 draft class to receive a second contract.

26 October 2017
Barclays 3Q profit rises following restructuring
The British bank posted a 34% drop in fixed-income revenue in the third quarter, according to a statement on Thursday. Investors, though, did not seem that impressed as Barclays shares fell 5% in early trading on the FTSE 100.

26 October 2017
President Kovind on a two-day visit to Bengaluru
The celebrations have been opposed tooth and nail by the BJP which sees Tipu Sultan as a "religious bigot" and a "brutal killer". Governor P Sathasivam, Chief Minister Pinarayi Vijayan, Devaswom Minister Kadakampally Surendran and others will be present.

26 October 2017
Envoy: US committed to Asia, though Trump will miss meeting
The White House said Trump may attend some meetings related to the East Asia Summit before the gathering officially begins. Trump will skip a key Asia summit at the end of his trip to the region next month.

26 October 2017
Lexus LC Inspiration Series and Black Panther concept revealed
This vehicle's most alluring feature is its Structural Blue paint job inspired by iridescent morpho butterflies. The Black Panther-inspired LC concept coupe boasts a variety of features that every Marvel hero needs.

26 October 2017
Kroenke brands Arsenal fans 'rabid': We will NOT sell
Frustrations were high during the season among supporters, with banners being flown during game days calling for Wenger's sacking. We have to do better but don't sell short the FA Cup and Arsene's record setting and consistency through 20 years.

26 October 2017
5-foot boa constrictor "Chuck" found in NC hotel room
Miller picked up Chuck and lovingly carried him on his shoulders, saying the snake has a good temperament and he holds him often. The 1.5 meter python was found by one of the hotel's staff during routine housekeeping at the Rodeway Inn and Suites.

26 October 2017
Deutsche Bank Q3 Net Profit More Than Doubles; Revenues Down
Those moves come amid a prolonged restructuring period and strategic decisions seen by analysts and investors as still unproven. Octavio Marenzi, CEO of capital markets management consultancy Opimas, said: "Deutsche Bank has a long, long way to go".