S&P 500 Rises On Strong Earnings and Ukraine Turmoil Ease

U.S. stocks rose, with the Standard & Poor’s 500 Index poised for its best week since July, as earnings from General Electric Co. and Morgan Stanley topped estimates and talks on the Ukraine crisis yielded an accord aimed at de-escalating the conflict.

General Electric climbed 2.2 percent after results beat forecasts. Morgan Stanley added 3.6 percent as a gain in trading revenue helped profit top estimates. Google Inc. (GOOG) Class C shares slid 3.1 percent as rising costs and a shift of advertising to mobile phones curbed revenue.

The S&P 500 rose 0.2 percent to 1,866.76 at 1:18 p.m. in New York, after falling as much as 0.3 percent earlier. The Dow Jones Industrial Average added 12.87 points, or 0.1 percent, to 16,437.72 today. The U.S. equity markets are closed tomorrow for a holiday.

Equities turned higher today after four-way talks on the crisis in Ukraine ended with an accord aimed at taking the first steps toward de-escalating the conflict after President Vladimir Putin said he hopes he won’t have to send troops.

via Bloomberg

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza