* Netflix, UnitedHealth results spur Wall Street
* MSCI all-country index hits one-week high
* Emerging markets stocks rise most in nearly 4 weeks
By Dion Rabouin and Herbert Lash
NEW YORK, Oct 18 A gauge of global equity
markets climbed to a one-week high on Tuesday, lifted by rising
commodity prices and a strong bounce in Europe, while solid
corporate earnings helped drive share prices higher.
Wall Street rose after a raft of stronger-than-expected
results from UnitedHealth Group Inc, Netflix Inc
and Goldman Sachs Group Inc, among others.
UnitedHealth gained 7.05 percent, Netflix soared 19.95
percent and Goldman Sachs rose 2.3 percent.
S&P 500 earnings are now expected have increased slightly in
the third quarter, reversing forecasts for another quarter of
profit declines, Thomson Reuters data showed.
It will be the first quarter since 2014 that both earnings
and revenue for S&P 500 companies increased.
"The markets are expecting an inflection point as we move
from the third to the fourth quarter, and so what they will be
parsing in management guidance is for a view that earnings turn
positive in the fourth quarter," said David Donabedian, chief
investment officer of Atlantic Trust Private Wealth Management.
MSCI's all-country world index of equity
returns in 46 countries rose 0.99 percent, while in Europe major
stock indices rose more than 1 percent.
On Wall Street, the Dow Jones industrial average rose
95.06 points, or 0.53 percent, to 18,181.46. The S&P 500
gained 16.11 points, or 0.76 percent, to 2,142.61 and the Nasdaq
Composite added 58.71 points, or 1.13 percent, to
The pan-European STOXX 600 index rose 1.5 percent
to its highest level in nearly a week. However, the benchmark
index is still down more than 6 percent year to date.
The market was helped by a 2.8 percent rally in the STOXX
Europe 600 Basic Resources index, the top sector gainer.
A report on U.S. consumer prices showed underlying inflation
moderated slightly in September, indicating it may take longer
than expected for inflation to reach the Federal Reserve's
target of 2 percent.
Fed Chair Janet Yellen said last Friday that the U.S.
central bank could allow inflation to run above the target. The
data may keep the Fed from raising interest rates in December as
U.S. Treasury yields also fell in line with their UK
counterparts on signs parliament will have to ratify Britain's
exit from the European Union. British lawmakers are seen as less
inclined to take a hard line on Brexit than Prime Minister
Benchmark U.S. 10-year Treasury notes fell 5/32
in price to yield 1.7485 percent.
MSCI's emerging market index rose 1.73 percent, its biggest
gain in more than three months, backed by the Fed's expected
slower rate of tightening and the bump in commodities prices.
The dollar was off its seven-month high against a
basket of major currencies, but was flat overall on the day at
Oil prices steadied as the dollar gave up early gains and
expectations of output curbs by the Organization of the
Petroleum Exporting Countries lifted crude prices despite
forecasts for a second straight weekly build in U.S. crude
Global benchmark Brent added 16 cents to settle at
$51.68, while U.S. crude rose 35 cents to settle at
$50.29 a barrel.
(Reporting by Dion Rabouin; Editing by Nick Zieminski and Chizu