World News | Indexes Are Mostly Higher on Wall Street Ahead of Earnings
Get latest articles and stories on World at LatestLY. Stock indexes are moving mostly higher Monday in choppy trading on Wall Street after a three-week winning streak.
New York, Jul 20 (AP) Stock indexes are moving mostly higher Monday in choppy trading on Wall Street after a three-week winning streak.
The S&P 500 was up 0.3 per cent after being down 0.3 per cent in the early going. Gains in the technology sector and companies that rely on consumer spending outweighed losses among industrial stocks, household goods makers and elsewhere in the market.
Noble Energy climbed 5.9 per cent after the company agreed to be acquired by Chevron for USD 5 billion.
Treasury yields were also mixed, reflecting caution among investors. European markets were mostly higher and Asian markets ended mixed.
The Dow Jones Industrial Average fell 62 points, or 0.2 per cent, to 26,609, while the Nasdaq composite climbed 1.2 per cent and the Russell 2000 index of small company stocks gave up 0.4 per cent.
In Europe, France's CAC 40 rose 0.4 per cent, while Germany's DAX added 0.8%. Britain's FTSE 100 slid 0.4 per ent.
The wobbly start for US stocks comes as traders look ahead to a busy week of earnings reports from major US companies, including IBM, Coca-Cola and Microsoft.
Expectations are low for companies' performance in the April-June quarter due to the pandemic, given the economic fallout from the broad business shutdowns and the rapid increase in unemployment as millions of Americans were laid off or furloughed.
But investors want to hear what company CEOs have to say about how they expect their businesses to fare in the second half of this year and in 2021.
Wall Street is coming off its third straight weekly gain following improvements in hiring, retail sales and other parts of the economy, along with rising hopes for a COVID-19 vaccine. (AP)
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)