US STOCKS-Wall St cheers Brexit deal; Netflix, Morgan Stanley results set positive mood
US STOCKS-Wall St cheers Brexit deal; Netflix, Morgan Stanley results set positive mood. Oct 17 (Reuters) - U.S. stocks were on pace to open higher on Thursday, after Britain struck a preliminary last-minute deal with the European Union easing some geopolitical jitters, while upbeat earnings from Netflix and Morgan Stanley affirmed a strong start to the reporting season. This followed upbeat results earlier in the week from major U.S. banks JPMorgan Chase & Co, Citigroup Inc, Bank of America and healthcare giants Johnson & Johnson and UnitedHealth Group Inc. "So far so good. Definitely the bank earnings have been terrific, relative to expectations," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. Analysts are expecting S&P 500 third-quarter earnings to fall by 3%, which would mark the first year-on-year contraction since the earnings recession that ended in 2016. However, of the 43 S&P 500 companies to have posted quarterly results so far, 86% have beaten expectations.