us stocks climbed on thursday adding to their gains for the week as the thirdquarter earnings reporting season got off to a strong start offsetting the drag from higher bond yields all three major indexes have recorded robust gains for the week despite finishing lower on wednesday the dow is up 36 while the sp 500 has gained 38 and the nasdaq risen 48 leaving all three on track for their best week in more than a month after falling in premarket trade in reaction to a jump in us treasury yields stocks have recovered as investors cheered strongerthanexpected quarterly earnings while the 10year yield bxtmubmusd10ywas up 42 basis points at 4160 after topping 4170 earlier investors received strong results from att t international business machines ibm dow inc dow united airlines holdings ual and others on the downside tesla tsla shares dropped after the electric vehicle maker said wednesday evening it expects to miss its 2022 deliveries target the company also posted a quarterly revenue that missed analyst expectations shares were off 38 in recent trade according to factset 90 out of 503 sp 500 firms have reported earnings so far with 744 of them reporting a positive surprise heading into earnings reporting season investors were bracing for bad news after fedex corp fdx withdrew its guidance and called for much lower profit and revenue but the companies that have reported so far have managed to outperform these low expectations said art hogan chief market strategist at breily wealth we had expectations for a disaster in earnings and that expectation hasnt met reality hogan said we havent had a single household name that has disappointed there hasnt been one standout where you can say this is a the tell hogan said see stocks are attempting a bounce as earnings season begins heres what it will take for the gains to stick next week will be one of the busiest for corporate earnings this season as investors will receive results from apple aapl alphabet googl and amazon amzn among other firms 165 sp 500 index companies are expected to report next week compared with just 66 this week according to factset investors received a weekly update on the number of americans applying for jobless benefits on thursday the data showed new applications for benefits fell by 12000 in midoctober to a threeweek low of 214000 as more people who couldnt work after hurricane ian returned to their jobs october philadelphia fed manufacturing index for october remained in contraction territory with a reading of 87 lower than expectations for 5 thats compared with 99 last month finally us existinghome sales fell 15 to a seasonally adjusted annual rate of 471 million in september the national association of realtors said wednesday this is the eighth straight monthly decline a first since 2007 in the uk british prime minister liz trusss decision to resign helped to push the british pound gbpusd higher against the dollar the british currency was up 1 against the buck in recent trade at 113 while the ice us dollar index dxy a gauge of the greenbacks strength against a basket of rivals was down 05 at 11298 certainly the uk news has been top of mind said joe saluzzi cohead of equity trading at themis trading but if you back and look at the dollar chart for the last year when the dollars up stocks are down and vice versa