Upbeat reports from several Dow blue chips fueled buying on Wall Street Tuesday as earnings season kicked off.
That allayed investor concerns about fallout from a prolonged U.S.-China trade war.
The three indexes gained more than 9-tenth percent.
Vespula Capital CEO Jeff Tomasulo: SOUNDBITE: VESPULA CAPITAL CEO JEFF TOMASULO (ENGLISH) SAYING: "Now we're in the midst of earnings season.
If we start to see good earnings come in, there's a lot of people so negative I think we're going to get a squeeze - we could, not that I think it's going to happen, we have to see how earnings season progresses - but we could see the market continue to go higher." Healthcare stocks led the rally.
Shares of UnitedHealth Group and Johnson & Johnson MOVED higher.
Wall Street banks and their employees have been leaning further left in recent years, increasing the proportion of cash allocated to Democrats. Democratic presidential nominee Joe Biden has dramatically outpaced Republican President Donald Trump in raising funds from the banking industry ahead of the Nov. 3 election. Rosanna Philpott explains why.
U.S. stocks tumbled on Monday, with the S&P 500 posting its biggest daily decline in four weeks, as soaring coronavirus cases and uncertainty about a fiscal relief bill in Washington dimmed the outlook for the U.S. economic recovery. This report produced by Yahaira Jacquez.
Wall Street lost ground on Tuesday, with halted COVID-19 vaccine trials and an elusive U.S. stimulus agreement weighing on sentiment as third quarter earnings season got underway. Fred Katayama reports.
The Dow and S&P 500 fell on lackluster earnings, election worries and rising COVID-19 cases worldwide, but tech stocks fared better and had positive news after the close when Microsoft topped sales forecasts. Conway G. Gittens has the market action.
Getty Images US stocks extended losses into Monday's close as a lack of stimulus progress cut into hopes for a pre-election deal. House Speaker Nancy Pelosi expedited talks on Sunday, setting a 48-hour deadline for the White House and Democrats to ink a deal. She later told Democrats that significant obstacles in reaching a compromise remain. Even if an agreement is reached, the bill is set to die in the Senate as Republicans push a $500 billion measure.
The S&P 500 posted a nominal gain on Friday as further clarity regarding the timeline for the development of a coronavirus vaccine and much better-than-expected retail sales data brought buyers back to the market. Fred Katayama reports.
Wall Street's main indexes hit their lowest in nearly seven weeks Monday as concerns about fresh coronavirus-driven lockdowns and the inability of Congress to agree on more fiscal stimulus raised fears about another hit to the domestic economy. Fred Katayama reports.
JPMorgan Chase & Co said on Thursday it would commit $30 billion to address racial inequality over the next 5 years, marking one of the largest corporate pledges related to race since the death of George Floyd. Freddie Joyner has more.
Economists at Bank of America lifted their forecast for third-quarter US GDP growth to 27% from 15% on Friday. Business Insider reports better-than-expected trends in retail sales, the housing market, and hiring. BoA lowered its fourth-quarter projection to 3% from 5%. Failed stimulus negotiations are growing increasingly likely. No new aid could be a speed bump for the American economy. BoA made the adjustment after Senate Democrats blocked Republicans' $500 billion measure on Thursday.
AstraZeneca has resumed the U.S. trial of its experimental COVID-19 vaccine after approval by regulators, and Johnson & Johnson is preparing to resume its trial early next week, the companies said on Friday. Fred Katayama reports.
Mattel reported a surprise rise in quarterly sales on Thursday and forecast more growth in the holiday season, as retailers rushed to restock their shelves of Barbie dolls and other toys in high demand from stuck-at-home kids. Fred Katayama reports.
A California appeals court on Thursday unanimously ruled against ride-hailing companies Uber Technologies and Lyft, saying they must reclassify their drivers in the state as employees. Fred Katayama reports.
Stock market analysts always worry around the time of a Presidential election. The markets can react unpredictably when a certain candidate gets elected. According to Stifel the S&P 500 will sell off initially if the Senate or Presidency remains Republican after the election. Business Insider reports that a note from Stifel says the S&P may fall following this election outcome. With the Republicans in charge hopes of a large fiscal stimulus will fade.
The S&P 500 ended lower on Thursday after a rise in weekly jobless claims compounded worries about a stalling economic recovery and fading hopes for more fiscal aid before the election. Fred Katayama reports.
'Holidate' stars Emma Roberts, Luke Bracey, Jessica Capshaw, Kristin Chenoweth and Andrew Bachelor sat down with The Hollywood Reporter to talk about their new romantic comedy. Plus, Roberts opens up about being pregnant during quarantine.
Credit: The Hollywood Reporter Duration: 03:59Published
Jon Stewart is making his big TV return, Netflix has renewed 'Narcos: Mexico' for a third season and Catherine Oxenberg is reacting to NXIVM leader and co-founder Keith Raniere being sentenced to 120 years in prison.
Credit: The Hollywood Reporter Duration: 02:21Published
Eli Lilly and Co said on Tuesday that the government-sponsored clinical trial of its COVID-19 antibody treatment similar to one taken by U.S. President Donald Trump has been paused because of a safety concern. This report produced by Jillian Kitchener.
Looking to find value in a market driven by earnings season? Tony Owusu, reporter for TheStreet, who's been focused on earnings season and Ernesto Ramos, portfolio manager at the BMO Volatility Equity..