© Reuters. Wall Street sign in Manhattan. October 26, 2020. REUTERS/Mike Segar/File Photo
(Reuters) – Major Wall Street indexes gained on Federal Reserve Chairman Jerome Powell’s comments at a monetary policy panel amid optimism that a deal could be reached that would avert a dangerous US default. US debt over the weekend.
At around 4.50pm, the Average was up 90.15 points, or 0.27%, to 33,626.06, up 9.93 points, or 0.24%, to 4,207.98, and the rise of 10.96 points, equal to 0.09%, to 12,699.80.
Morgan Stanley (NYSE:) fell 1.3% after Chief Executive Officer James Gorman announced he would step down from his role over the next 12 months.
Foot Locker shares tumble 24.6% after the footwear retailer cuts its full-year sales and earnings forecast.
Foot Locker’s forecast weighs on the Dow Jones Industrial Average stock Nike (NYSE:), down 3.4%, while Under Armor fell 3.7%.
Alphabet (NASDAQ:) gained 0.8% on news that Samsung Electronics won’t switch its default search engine from Google to Microsoft’s (NASDAQ:) Bing in the near term.
(Translated by Chiara Scarciglia, editing Stefano Bernabei)