NEW YORK, May 18 ― Wall Street finished sharply higher yesterday, lifted by Apple, Tesla and other megacap growth stocks after strong retail sales in April eased worries about slowing economic growth. Ten of the 11 major S&P sector indexes advanced, with financials, materials, consumer.
Damian J. Troise and Alex Veiga
Wall Street kicked April off with a milestone Thursday, as a tech company rally helped drive the S&P 500 past the 4,000 mark for the first time.
The benchmark index finished 1.2% higher a day after closing out the first three months of the year with its fourth straight quarterly gain. Microsoft, Apple, Facebook and Google’s parent company were among the winners, along with smaller companies, which stand to benefit from a quickly growing economy. Health care, household goods stocks and utilities were the only laggards.
Technology stocks benefited from another drop in bond yields, which have been the driving force for the market for several weeks. The yield on the 10-year U.S. Treasury note fell to 1.69% from 1.73% the day before. Higher bond yields make stocks seem more expensive by comparison, and tech stocks are among the most expensive after their significant rise last year. Microsoft rose 2.8%, Facebook gained 1.4%, Amazon.com added 2.2% and Go
Saturday, 09 Jan 2021 07:24 AM MYT
The latest rally in the Dow, S&P 500 and Nasdaq overcame labour market data early in the day that showed the US economy shed jobs for the first time in eight months in December as the country buckled under the Covid-19 onslaught. Reuters pic
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NEW YORK, Jan 9 ― Wall Street scaled new highs yesterday as hopes of more stimulus from Washington were shaken a bit by a senator s comments but later bolstered after US President-elect Joe Biden said his economic package will be in the trillions of dollars.