U.S. stocks close higher after strong earnings reports

Alsharq Tribune-Otaify 

U.S. stocks ended higher on Thursday as investors stepped in to buy after a batch of strong earnings results.

The Dow Jones Industrial Average rose 0.31 percent to 46,734.61. The S&P 500 added 0.58 percent to 6,738.44. The Nasdaq Composite Index increased 0.89 percent to 22,941.8.

Seven of the 11 primary S&P 500 sectors finished higher, with energy and industrials leading the gainers by rising 1.29 percent and 1.27 percent, respectively. Consumer staples and real estate led the laggards by declining 0.41 percent and 0.07 percent, respectively.

Investors continued to monitor earnings releases from major U.S. companies, which many believe could determine the course of the current bull market rally. Honeywell shares led the blue-chip Dow's advance, climbing nearly 7 percent after reporting better-than-expected quarterly results and raising its full-year outlook. American Airlines gained 5.62 percent following a narrower-than-expected third-quarter loss and upbeat guidance.

The market managed to recover from earlier weak spots in the session. Tesla, which kicked off reports from the "Magnificent Seven," ended up 2.28 percent after bouncing back from initial losses following a mixed third-quarter report. IBM shares pared losses after beating Wall Street estimates but reporting in-line software revenue.

Looking ahead, Friday's release of the September consumer price index report is set to be a key focus for Wall Street, which remains eager for fresh data.