Thornburg Investment Management Portfolio Manager Emily Leveille in Reuters

Wall Street indexes rally on bets of peak US interest rates, strong earnings

  • Qualcomm gains as Q1 forecast tops estimates
  • Starbucks rises on upbeat quarterly results
  • PayPal up on profit forecast raise
  • Weekly jobless claims stronger than expected
  • Indexes up: Dow 1.7%, S&P 1.89%, Nasdaq 1.78%
  • Nov 2 (Reuters) – Wall Street’s three main stock indexes rallied nearly 2% on Thursday on hopes that the U.S. Federal Reserve has reached the end of its interest rate hiking campaign and a batch of upbeat quarterly financial updates added to the bullish mood.

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