The S&P 500 and Nasdaq Composite closed higher on Thursday driven by buoyant corporate earnings news by large companies including Nvidia while the Turkish Lira fell sharply.
Shares of Nvidia, a U.S. tech company, that bounced higher have backed the S&P 500 and Nasdaq to close higher as its corporate earnings exceeded quarterly estimates and strong fourth -quarter yield expectations. In addition, shares of Macy's, a U.S. retail company, also jumped 21.2% after raising its forecast for higher earnings.
Still, shares of Cisco System, a U.S. network hardware company, fell 5.5% a day after it predicted its current quarterly earnings were below expectations due to supply chain shortages and delays.
The Dow Jones Industrial Index fell 0.17%, while the S&P 500 was up 0.43%and the Nasdaq Composite was up 0.45%.
The STOXX 600 index was down 0.46% while the MSCI index, which tracks stocks around the world, was up 0.03%.
Meanwhile, the Turkish Lira plunged 2.83% after its central bank cut its 100 basis point rate to 15% despite it now facing high inflationary pressures of nearly 20%.
The dollar index, which measures a total of 6 other currencies, was down 0.3%.
U.S. treasury yields falling after the relative success of its 20 -year bond auction on Wednesday has eased concerns about a rapid rise in yields.
The 10 -year benchmark rose to 1.587% from 1.415% recorded last week and was below its 5 -month high of 1.705% reached on 21 October.
Oil prices rose after hitting a 6 -week low.
Brent crude oil price rose 96 cents or 1.2% at $ 81.24 a barrel while U.C. West Texas Intermediate crude oil price added 65 cents or 0.8% at $ 79.01.
Gold futures were down 0.5% at $ 1,861.40.
