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Stocks notch second day of gains

Wednesday, October 19, 2016 - 01:18

U.S. equities closed higher for a second straight day helped by energy shares as oil hit a 15-month high and earnings continue to surprise. Jeanne Yurman reports.

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Stocks notched a second straight day of gains helped by positive earnings and energy shares. Those stocks getting a boost as oil touched a 15-month high given a surprise draw-down in U.S. crude inventories. Corporate earnings look good so far says A&G Capital's HIlary Kramer and notes some key reports on her radar. SOUNDBITE: HILARY KRAMER, CHIEF INVESTMENT OFFICER, A & G CAPITAL "Amazon's very key next week and then on November second of course Facebook will be very important as well because those are going to be real determinants of how we're doing. They're not going to be able to candy coat like some of the other companies can." Google plans to launch a skinny bundle web TV service next year and has signed a deal with CBS to stream its contents according to a source speaking to Reuters. Mixed signals on new home starts for September. Groundbreaking on multi-family housing projects plunged last month. But single-family home surged higher. Healthy demand for permits however, or future construction, point to an ongoing upward trend in the housing market. The government's monthly snapshot of U.S. economic activity - the beige book - showed it grew at modest to moderate pace in the last six weeks. And in Europe, equities tacked on another day of gains.

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Stocks notch second day of gains

Wednesday, October 19, 2016 - 01:18