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Apr 26, 2021 8:32 PM UTC Producers of metals and other raw materials rose as investors continued to pile into sectors with the most to gain from a rebound in global economic growth. In one promising sign for global economic activity, the European Union indicated support for American tourists visiting the continent this summer. Shares of Freeport McMoRan rose by more than 5%, with the copper miner hitting its highest level since 2014, reflecting increases in the price of copper. Copper futures rose by more than 2% in London trading as disputes between the Chilean government and unions over changes to pension laws threatened to trigger strikes, threatening to inhibit already tight supplies of the industrial metal.
Tech Up Ahead Of Earnings Tech Roundup
04/23/2021 | 05:29pm EDT
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Message : Shares of technology companies rose amid anticipation of strong earnings. Shares of device maker Apple rose ahead of its first-quarter earnings report, due next week. Shares of social networking concern Facebook also rose in anticipation of its earnings. Electronics concern Panasonic said it s buying U.S. supply-chain software provider Blue Yonder Holding from Blackstone Group and New Mountain Capital for $7.1 billion in a bid to accelerate its software business. The price of bitcoin has been wildly volatile this week, and earlier in the day fell below $49,000, roughly 25% below recent peaks amid reports of forced liquidation and fears about capital-gains taxes. The cryptocurrency was back above $50,000 by the time the stock market closed in New York.
Health Care Up On Cyclical Bias Health Care Roundup
04/23/2021 | 05:13pm EDT
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Required fields Health-care companies rose, but not by as much as the broad market, as investors rotated into sectors with more to gain from changes in the economic growth rate. Johnson & Johnson s Covid-19 vaccine could be back in circulation in the U.S. this weekend, albeit with a warning or possible restrictions. Patients returned to hospitals and surgery centers early this year as Covid-19 surges subsided and vaccinations continued, according to hospital chains HCA Healthcare and Tenet Healthcare. Write to Rob Curran at rob.curran@dowjones.com
Communications Services Up On Growth Bias Communications Services Roundup
04/23/2021 | 05:32pm EDT
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Message : Communications services companies rose as investors rotated into sectors that would benefit from economic growth. The bias for growth sectors reversed itself earlier this year after a spike in Treasury yields caused a reassessment of stock portfolios. But tech, communications services and biotech companies are once again outperforming the broad market. This may not last, according to one strategist. If the virus gets back under control and/or the data in the U.S. continue to show high economic growth and more persistent and higher-than-expected inflation, we expect bond markets to again sell off (driving yields higher) and the tech to cyclical trades to resume, said Chris Zaccarelli, chief investment officer for the Independent Advisor Alliance, in emailed commentary.