By Caitlin McCabe and Anna Hirtenstein Investors piled back into stocks Friday, lifting all three major U.S. indexes, as fresh data underscored that a strong economic recovery is under way. The rally capped a volatile week for the U.S. stock market, during which major indexes swung widely in both directions. Stocks started Monday lower and then posted a mid-week rebound, before tumbling sharply Thursday on reports that President Biden is considering nearly doubling capital-gains taxes on the wealthy. The news which immediately sent stocks lower seemed to all but cement sizable losses for the week. Yet strong economic data released Friday instead spurred a sharp rebound in equities and trimmed weekly losses for all three indexes. The S&P 500 finished the week down 0.1%, while the technology-heavy Nasdaq Composite posted a 0.3% weekly loss. The Dow Jones Industrial Average ended the week 0.5% lower. The losses snapped a stretch of weekly gains for the U.S. inde
Stocks Finish Higher on Strong Economic Data morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
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By Anna Hirtenstein U.S. stock futures edged up on Friday as investors assessed fresh data on how the manufacturing and services sectors world-wide are faring in the second quarter. Futures tied to the S&P 500 ticked 0.2% higher, suggesting the broad-market index may regain some ground. The gauge dropped 0.9% Thursday on reports that President Biden is considering higher capital-gains taxes for the wealthiest Americans, and is on track to end a four-week streak of gains. Nasdaq-100 futures edged up 0.2%, pointing to muted gains in technology stocks after the opening bell. Stocks have been choppy this week as sentiment wavered between concerns about fresh waves of Covid-19 infections around the world and optimism prompted by promising economic data. Weekly jobless claims last week hit the lowest point since the pandemic began, indicating that the U.S. labor market is improving. Money managers are looking to compani
Stocks Recover Some of Thursday s Losses morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
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By Anna Hirtenstein U.S. stocks were mixed Friday as investors assessed signs that overseas factories are booming while awaiting U.S. data. The S&P 500 ticked 0.2% higher, suggesting the broad-market index might make a tepid recovery. The gauge dropped 0.9% Thursday on reports that President Biden is considering higher capital-gains taxes for the wealthiest Americans, and is on track to end a four-week streak of gains. The Dow Jones Industrial Average edged down 0.2%, and the Nasdaq Composite gained 0.4%. Stocks have been choppy this week as sentiment wavered between concerns about fresh waves of Covid-19 infections around the world and optimism prompted by promising economic data. Weekly jobless claims last week hit the lowest point since the pandemic began, indicating that the U.S. labor market is improving. Money managers are looking to companies projections and other key indicators to gauge whether the econom