Wall Street s main indexes rose on Monday after a week of largely upbeat earnings strengthened expectations of sustained profit growth for companies, while some high-flying growth stocks lagged a broader rally. With more than half of S&P 500 companies having already reported results so far, profits are seen rising 46% in the first quarter, compared with forecasts of 24% growth at the start of April, according to IBES data from Refinitiv. Nine of the 11 major S&P 500 sectors climbed in early trading, with economy-sensitive cyclical stocks, including financials, energy, industrials, and materials, leading the gains. Earnings so far have been substantially better than projections. People and institutions are feeling positive about the market right now even though we re close to all-time highs, said Mark Grant, chief global market strategist at B. Riley FBR in Fort Lauderdale, Florida.
Wall Street kicks off month on strong footing, growth stocks lag
By Shreyashi Sanyal and Sruthi Shankar
Reuters
(Reuters) - Wall Street s main indexes rose on Monday after a week of largely upbeat earnings strengthened expectations of sustained profit growth for companies, while some high-flying growth stocks lagged a broader rally.
With more than half of S&P 500 companies having already reported results so far, profits are seen rising 46% in the first quarter, compared with forecasts of 24% growth at the start of April, according to IBES data from Refinitiv.
Nine of the 11 major S&P 500 sectors climbed in early trading, with economy-sensitive cyclical stocks, including financials, energy, industrials, and materials, leading the gains.
European stocks edge higher on robust earnings, recovery hopes Sentiment remains positive on hopes of quick economic rebound
about 9 hours ago Updated: about 3 hours ago
Photograph: iStock
European equities rose on Monday, as investors weighed robust earnings reports and a brightening economic outlook against the risks of rising inflation and higher taxes.
The UK market is closed for a public holiday. The Stoxx Europe 600 Index climbed 0.6 per cent as of 4.10pm CET, moving closer to historic highs reached last month. Carmakers led advances, despite continuing warnings about production disruptions due to a shortage of chips.
Ferrari NV gained 2.2 per cent amid upbeat estimates for its earnings report due Tuesday, while Porsche Automobil Holding rose 1.6 per cent.
BusinessWall Street kicks off month on strong footing, growth stocks lag
Shreyashi SanyalSruthi Shankar
5 minute read
A trader walks outside the New York Stock Exchange in New York City, U.S., April 26, 2021. REUTERS/Shannon Stapleton
Wall Street s main indexes rose on Monday after a week of largely upbeat earnings strengthened expectations of sustained profit growth for companies, while some high-flying growth stocks lagged a broader rally.
With more than half of S&P 500 companies having already reported results so far, profits are seen rising 46% in the first quarter, compared with forecasts of 24% growth at the start of April, according to IBES data from Refinitiv. read more
Wall Street kicks off month on strong footing, growth stocks lag streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.