Artemis Investment Limited – Stocks gain for a second day amid busy earnings lineup

U.S. equities charged forward in another session of outsized swings Tuesday, extending a comeback that kicked off a busy week of big-name third-quarter earnings reports.
 
HONG KONG - Oct. 19, 2022 - PRLog -- The S&P 500 (^GSPC) advanced 1.2%, though after paring gains from a sharper move higher earlier in the session, while the Dow Jones Industrial Average (^DJI) added around 340 points, or 1.1%. The technology-heavy Nasdaq Composite (^IXIC) closed up 0.9%.

Sentiment got a boost Tuesday on third-quarter results from Goldman Sachs (GS) — Wall Street's premier investment bank — which posted earnings that beat analyst estimates across the board despite challenging year-over-year comparisons. Shares closed roughly 2% higher.

Elsewhere on the corporate front, shares of Carnival (CCL) bounced nearly 11% after Carnival Holdings, a subsidiary of the cruise operator, announced it will offer $1.25 billion of senior priority notes due 2028 and use proceeds to cover debt and other expenses.

Shares of Colgate-Palmolive Company (CL) were slightly higher, up closing up 1% after a report from CNBC that Daniel Loeb's Third Point has amassed a substantial stake in the company and sees value in a potential spinoff of its Hill's Pet Nutrition business and other brands.

The moves on Tuesday cap a second straight positive day on Wall Street after all three major averages rallied in the previous session, with the S&P 500, Dow, and Nasdaq notching gains of 2.7%, 1.9%, and 3.4%, respectively.

About Artemis Investment Limited:

Originally established to assist expatriates access financial services in SE Asia, Artemis Investment Limited is a leading independent, boutique financial advisory firm which now caters to a global client base.

Based in Hong Kong for the last 60 years, we have adapted our services to account for the financial world in the 21st Century. We are a borderless company whose staff come from a variety of backgrounds but are united by one attribute, customer focus and objectives above all else.

We understand that many clients know where they want to be, but may not have the knowledge on how to get there. This is where our specialist expertise within the financial services sector is essential in providing the correct timing, opportunity and ultimately, the correct result to establish a lengthy and equitable relationship. This is something that our 20,000 + clients have learnt first-hand.

To find out more, or to sign up to the Artemis newsletter, visit https://www.artemis-hk.com

Contact
Cherry Hwuang
Marketing Director
***@artemis-hk.com
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