U.S. stocks ended mildly higher Monday, as Wall Street pondered over downbeat quarterly earnings reports after China's gross domestic product (GDP) data.
The Dow Jones Industrial Average rose 14.57 points, or 0.08 percent, to 17,230.54. The S&P 500 edged up 0.55 point, or 0.03 percent, to 2,033.66. The Nasdaq Composite Index added 18.78 points, or 0.38 percent, to 4,905.47. Shares of Morgan Stanley tumbled 4.80 percent to 32.32 U.S. dollars apiece Monday following the release of its lackluster quarterly results.
The bank reported net income for the third quarter 2015 of 1.0 billion dollars on revenues of 7.8 billion dollars, compared with net income of 1.7 billion dollars on revenues of 8.9 billion dollars a year ago. H
asbro Inc. shares slumped 7.01 percent to 72.33 dollars apiece Monday after the company delivered weaker-than-expected quarterly revenues. The U.S. toy maker announced that its net revenues for the third quarter 2015 were 1.47 billion dollars, flat with 1.47 billion dollars in the same period of 2014.
Latest data from Thomson Reuters showed that S&P 500 companies' blended earnings in the third quarter of 2015 are expected to decline 3.9 percent year on year, while revenue growth is forecast to decrease 3.7 percent.
On the economic front, U.S. Builder confidence in the market for newly constructed single-family homes rose 3 points in October to a level of 64, its highest since November 2005, according to the National Association of Home Builders/Wells Fargo Housing Market Index released Monday.
Overseas, China's economy posted a 6.9-percent growth year on year in the third quarter of 2015, lower than 7 percent in the first half of the year, the National Bureau of Statistics announced Monday.
This is the first time the country's quarterly growth rate has dropped under 7 percent since the second quarter of 2009. Chinese shares benchmark Shanghai Composite Index edged down 0. 14 percent to end at 3,386.7 points Monday following the release of the weak GDP figure.
European equities finished mixed on Monday as investors digested the latest economic figures out of China. Germany's benchmark DAX index at Frankfurt Stock Exchange rose 0.59 percent, while British benchmark FTSE 100 Index fell 0.40 percent.
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