The S&P 500 shook off recent pressure to move higher as rising crude oil gave the energy sector a big boost. A rebound rally in crude put it on track for its best daily percentage gain since late September. United Continental (UAL) shares rose as it kicked off its Investor Day in Chicago, outlining a number of new strategies to pump up profits. The airline expects to generate $4.8 billion in additional earnings a year by 2020. Vodafone (VOD) was slightly lower after taking a 5 billion euro write down on its India business tied to increasing competition in the region. The telecom still expects to meet its full year goals thanks to a strong performance in Europe. JD.com (JD) , China's second-largest e-commerce company, surged after posting 38% growth in sales over its third quarter. JD also guided for a solid fourth quarter.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.