Ford Hauls Stock Markets Higher; Pinterest Paints a Pretty Profit Picture
The stock market managed to mount a modest recovery on Thursday morning, following a terrible Wednesday that saw the Dow Jones Industrial Average (DJINDICES: ^DJI) post its worst drop in months. Investors remain concerned about the steep upward trend in COVID-19 cases, which bodes ill for the coming winter. Yet good news on the economic front seemed to give market participants some optimism. Shortly after 11:15 a.m. EDT, the Dow was up 94 points to 26,614. The S&P 500 (SNPINDEX: ^GSPC) picked up 30 points to 3,301, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) moved higher by 156 points to 11,160.
Earnings reports continued to come out, with earnings season hitting its peak this week. Ford Motor (NYSE: F) moved higher after its latest results, and Pinterest (NYSE: PINS) was an even bigger winner on rising excitement about the visually oriented social media company's efforts to fully monetize its platform.
Ford shares were up 4% on Thursday morning. The automaker saw earnings soar from year-ago levels, and it set new expectations that made investors happy about its future prospects.
Source Fool.com
