Tech stocks push S&P 500 to record close, buoy Nasdaq – Reuters

” This year, 20 had proved to be a bit of a floor, however what weve seen from the start of this month is the VIX broke down through that level and established its trading variety at mid-teens, which is noteworthy for the more comprehensive threat environment as we go into profits season,” stated Greg Boutle, U.S. head of equity and derivative technique at BNP Paribas.
First-quarter earnings season starts in earnest on Wednesday, with the very first reports anticipated from Goldman Sachs, JPMorgan and Wells Fargo.
Analysts expect earnings for S&P 500 companies to have leapt 25% from a year previously, driven by strength in customer discretionary and monetary companies, according to Refinitiv IBES data.
Cryptocurrency and blockchain-related companies, such as Riot Blockchain and Marathon Digital Holdings, acquired as bitcoin costs soared, a day ahead of the listing of Coinbase, the biggest U.S. cryptocurrency exchange. (Reporting by David French in New York and Medha Singh in Bengaluru; Editing by Sagarika Jaisinghani, Arun Koyyur, Maju Samuel and Richard Chang).

. The broader technology sector also increased, as did the NYSE FANG+TM Index for a record 12th straight session.
The S&P 500 closed at record highs on Wednesday, Thursday and Friday recently.
” The genuine curveball today is the J&J vaccine stop, although this too may be shaken off as a small setback. While this may cause some short-term volatility, financiers have been pretty steadfast in their faith in a complete economic healing,” said Mike Loewengart, handling director at financial investment strategy at E * TRADE Financial.
Unofficially, the Dow Jones Industrial Average fell 65.96 points, or 0.2%, to 33,679.44, the S&P 500 acquired 13.67 points, or 0.33%, to 4,141.66 and the Nasdaq Composite included 146.10 points, or 1.05%, to 13,996.10.
Highlighting financiers unfazed attitudes was the volatility index, which intraday dipped underneath the 14-month closing low hit on Friday.

(For a Reuters live blog on U.S., UK and European stock exchange, click LIVE/ or type LIVE/ in a news window.).
* J&J shares hit one-month low.
* Tech firms boost indexes.
* Big bank revenues to begin from Wednesday.
* Crypto-stocks leap ahead of Coinbase IPO (Updates to market close).

April 13 (Reuters) – The S&P 500 closed at another record high on Tuesday and the Nasdaq composite index jumped, as financiers got rid of concerns about the stop in Johnson & & Johnsons COVID-19 vaccine rollout and strong U.S. inflation.
The drugmakers shares hit a one-month low before recuperating a few of its losses, as calls for pausing the usage of its COVID-19 vaccine after six females established uncommon embolism dealt a fresh problem to efforts to tackle the pandemic.
The news came as U.S. information revealed the consumer price index (CPI) in March increased by the most in more than 8-1/2 years, starting what the bulk of economic experts expect will be a brief period of higher inflation.
U.S. futures at first dropped on the J&J news, however pared losses after the CPI data. Solid need for Tuesday lunch breaks U.S. Treasuries concern lowered yields even more, highlighting financiers absence of issue about any impending bump in rate of interest.
Instead, high-flying technology names that thrived throughout coronavirus-induced lockdowns last year attracted restored buying that improved Apple Inc, Microsoft Corp and Amazon.com Inc

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