Wall Street climbs ahead of Amazon, Alphabet earnings; stimulus in focus
Investors are gauging outlooks from big corporations to justify elevated stock market valuations, at a time when concerns over a raging pandemic and new coronavirus variants have triggered fears of a short-term pullback in markets. Reuters
Source: Reuters
US stock indexes rose on Tuesday, building on the previous session s momentum, as investors anticipated strong results from Amazon and Google-parent Alphabet while also looking for signs of progress on a pandemic relief package.
Alphabet, which will report the cost and operating profit of its Google Cloud business for the first time, added 1.8 percent, while retail behemoth Amazon.com Inc rose 1.6 percent.
Wall St climbs ahead of Amazon, Alphabet earnings; stimulus in focus
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Wall Street rises ahead of Amazon, Alphabet earnings; pandemic relief package
Shares of both the companies, set to report their fourth-quarter earnings after market close, were among the top boosts to the S&P 500. The NYSE FANG+TM index firmed 1%
Reuters | February 2, 2021 | Updated 21:44 IST
U.S. stock indexes rose on Tuesday, building on the previous session s momentum, as investors anticipated strong results from Amazon and Google-parent Alphabet while also looking for signs of progress on a pandemic relief package.
Alphabet, which will report the cost and operating profit of its Google Cloud business for the first time, added 1.8%, while retail behemoth Amazon.com Inc rose 1.6%.
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(Reuters) -The S&P 500 registered its biggest daily percentage gain since Nov. 24 on Monday after a steep sell-off last week, and technology-related shares led the advance, while a move by retail traders into silver drove up mining shares.
Investors also watched talks over the latest U.S. COVID-19 relief package.
The iShares Silver Trust ETF - the largest silver-backed ETF - jumped 7.1%. Silver prices climbed to an eight-year peak of just over $30 an ounce before paring gains.
U.S. small-cap miners Hecla Mining Co and Coeur Mining Inc surged.
Last week, retail traders drove big gains in companies such as GameStop Corp. GameStop was down 30.8% on Monday.
Wall Street rebounds as small-time traders turn to silver
The CBOE volatility index eased on Monday from three-month highs that were fueled by a surge in shares of GameStop Corp, AMC Entertainment Holdings and others that burnt hedge funds which had bet against the companies. Reuters
Source: Reuters
Wall Street s main indexes climbed on Monday following a steep sell-off last week, as a shift in the retail trading frenzy to silver drove up mining stocks and investors monitored progress in talks over economic stimulus.
The iShares Silver Trust ETF, the largest silver-backed ETF, jumped 7.2% as silver broke above $30 an ounce for the first time since 2013 with an army of retail traders storming into the metal after betting billions of dollars on stocks last week.
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