Trade truce with China boosted tech stocks, driving the S&P 500 to a record high on Monday.
Oil stocks also soared as investors bet OPEC will extend production cuts.
But AMG Managers Pictet International Fund portfolio manager Ben Beneche has a cautious outlook.
SOUNDBITE: AMG MANAGERS PICTET INTERNATIONAL FUND PORTFOLIO MANAGER, BEN BENECHE, (ENGLISH) SAYING: "It's really a case of how much more can go right, It feels like right now, globally, it's very much a "Goldilocks"-type scenario.
Very low rates.
Very high profit margins.
Very low rates of unemployment coupled with little to no inflation.
That is not a system of real stability in the markets.
Typically one of those things will not be working." Still, the S&P 500 managed to rise for a third straight day.
Chipmakers that supply China's Huawei Technologies like Intel, Micron Technology rose.
Over the weekend, President Donald Trump offered China concessions that included no new tariffs and an easing of restrictions on Huawei.
Gambling revenue in Macau rose more than expected in June.
The Trump administration plans to finalize regulations this week that will bar the U.S. government from buying goods or services from any company that uses products from five Chinese companies including Huawei, Hikvision and Dahua, a U.S. official told Reuters exclusively. Conway G. Gittens reports.
When asked about the risks of having Huawei as part of the 5G network, Prime Minister Boris Johnson says that "the UK should not be vulnerable to a high risk state vendor" but, at the same time, he also wants to make sure to deliver the best broadband needed for the whole country. Report by Bassaneseg. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The S&P 500 and Nasdaq closed higher Wednesday to kick off the third quarter as increasing optimism for a safe and effective COVID-19 vaccine eased concerns that another round of business lockdowns was likely. Fred Katayama reports.
Economist Max Wolff of Multivariate thinks the S&P 500 should be trading at 2300 instead of 3150. He tells Reuters' Fred Katayama that investors are ignoring negative news about the rising coronavirus cases and the renewed trade tensions with China.
The S&P 500 ended lower Friday after a choppy session as investors weighed spiking cases of COVID-19 and Apple's announcement of fresh store closures against anticipated stimulus and continued economic recovery. Fred Katayama reports.
California is pursuing a legal challenge against the Trump administration. Their controversial new student visa policy will force foreign students to leave the country... ...Or switch schools if they attend a university doing online-only instruction this fall. These new rules are in place due to the coronavirus pandemic, reports HuffPost. California Attorney General Xavier Becerra said he’s filing a lawsuit against the administration.
[NFA] Geoffrey Berman, the top federal prosecutor in Manhattan who was ousted last month as his office led a probe into President Donald Trump's personal attorney Rudolph Giuliani, told lawmakers on Thursday that U.S. Attorney General William Barr had pressured him to resign. Colette Luke has more.
[NFA] Michael Cohen, U.S. President Donald Trump's former personal attorney, was taken to a federal jail on Thursday after refusing to agree to a gag order as a condition of serving his criminal sentence under home confinement, Cohen's lawyer said. Freddie Joyner reports.
U.S. President Donald Trump on Thursday described two U.S. Supreme Court rulings concerning his financial records as a "hoax" and a "political witch hunt - the likes of which nobody's ever seen before."
U.S stocks rose Wednesday and the Nasdaq hit a record closing high, supported by tech shares as early signs of an economic rebound offset concern about rising coronavirus cases across the country. Fred Katayama reports.
As coronavirus cases rise again, Gerber Kawasaki's Brett Sifling is bullish on the prospects for pricey "stay-at-home" stocks. He tells Reuters' Fred Katayama why he particularly favors Activision and Netflix.
Men's clothier Brooks Brothers filed for Chapter 11 bankruptcy on Wednesday, joining a long list of retailers including Neiman Marcus that have crumbled under the impact of the coronavirus crisis. Fred Katayama reports.
United Airlines has warned of booking declines and potential furloughs due to new travel restrictions in an internal presentation to the carrier's employees, a person with knowledge of the matter told Reuters. Fred Katayama reports.
Wall Street rallied broadly Wednesday with the Nasdaq approaching record highs as signs of an economic recovery from mandated shutdowns helped investors look beyond U.S. social unrest and pandemic worries. Fred Katayama reports.
Forbes reports that Kylie Jenner is not really a billionaire. According to Business Insider, Forbes claims that Jenner and her mother, Kris Jenner, inflated their wealth in documents they provided to them. In 2019, Forbes named a then 21-year-old Kylie Jenner "The Youngest Self-Made Billionaire Ever." Kylie's camp said that Kylie Cosmetics made $360 million in sales in 2018, but a Coty presentation showed that revenues were closer to $125 million.
Wynn Resorts has called on Nevada Governor Steve Sisolak to begin to reopen the Las Vegas Strip in mid- to late May. Wynn’s Macau casinos reopened on Feb. 20 after a mandatory, industry-wide two-week closure. Reuters reports Wynn Resorts CEO Matt Maddox says extensive safety measures will be in place. That is, assuming the state is in line with certain benchmarks around the spread of the coronavirus.
Federal Reserve chairman Jerome Powell's comments to the House Financial Services Committee were level-headed and rather implicit as usual, yet all indications were that there will be an interest rate..