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--US Equities Markets End Higher Friday as Traders Assess Earnings
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--US Equities Markets End Higher Friday as Traders Assess Earnings
Oct 18, 2024 2:43 PM

04:09 PM EDT, 10/18/2024 (MT Newswires) -- US benchmark equity indexes ended higher Friday as markets assessed the latest batch of earnings.

* US housing starts decreased last month as gains in single-family projects were more than offset by a decline in the multi-family component, government data showed.

"Looking further ahead, we look for starts to begin a recovery that gains more traction next year, eventually pushing starts up to an annualized pace of 1.5 (million)," Oxford Economics said. "We expect starts to be supported by lower mortgage rates as the (Federal Reserve) continues to cut interest rates, less restrictive credit conditions for builders and the long-standing need for more supply."

* November West Texas Intermediate crude oil closed down $1.45 to settle at $69.22 per barrel, while December Brent crude, the global benchmark, was last seen down $1.04 to $73.41 as China's Q3 economic growth failed to meet its target, keeping demand from the No.1 importer light.

* Netflix ( NFLX ) was up 11%. Late Thursday, the streaming giant logged higher-than-expected Q3 financial results as new subscriber count surpassed Wall Street's estimates.

* Intuitive Surgical's ( ISRG ) shares were up 10%. Late Thursday, the robotic surgical systems company posted better-than-expected Q3 results amid double-digit growth in procedure volumes.

* CVS Health ( CVS ) on Friday named David Joyner as chief executive, while the healthcare giant issued a preliminary Q3 earnings outlook that came in below the Street's estimates. The company's shares were down 5.3%.

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