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US stocks flat on solid earnings, weak housing data

NEW YORK, July 18 — Wall Street stocks were little changed early today following lacklustre housing data and a batch of mostly good earnings reports. About 15 minutes into trading, the Dow Jones Industrial Average was up slightly at 25,124.31. The…

Oil falls after industry data show surprise US stockpile gain

NEW YORK, July 18 — Oil slipped in New York, approaching its lowest level in almost a month, after a surprise increase in US crude inventories further allayed concerns of a looming supply crunch. Futures in New York dropped as much as 1 per cent….

Asian markets rise after Fed chief boosts US confidence

HONG KONG, July 18 — Asian markets largely rose today, tracking a Wall Street rally after the Federal Reserve chief expressed confidence in the US economy despite fears of a global trade war. Jerome Powell offered a positive outlook, citing a…

Weak oil prices offset Bank of America-led earnings optimism

NEW YORK, July 16 — US stocks were trading flat today as a sharp drop in crude oil prices weighed on energy companies, offsetting a rebound in financials stocks after Bank of America’s strong results reinforced expectations of a strong earnings…

US stocks edge higher as Nasdaq ekes out record

NEW YORK: Wall Street stocks finished modestly higher Friday, with the Nasdaq eking out a second straight record as beaten-down consumer stocks rallied.

The Dow Jones Industrial Average gained 0.4% to close the week at 24,019.41.

The broad-based S&P 500 advanced 0.1% to 2,801.31, while the tech-rich Nasdaq Composite Index added less than 0.1% to end at a new all-time high of 7,825.98.

Investors have turned their attention away from trade tensions for the time being to focus on corporate earnings, which are expected to rise by about 20% compared with the year-ago period.

Banks opened earnings season, with JPMorgan Chase and Citigroup both topping analyst expectations, while Wells Fargo fell short.

All three stocks retreated, with JPMorgan losing 0.5%, Citigroup 2.3% and Wells Fargo 1.3%.

Consumer staples, which has underperformed the broader market for much of 2018, was among the strongest sectors Friday.

Among those gaining were Dow members Walmart and Walgreens Boots Alliance, which won 1.4% and 1.6%, respectively. Other gainers included Costco Wholesale and Colgate-Palmolive.

But Johnson & Johnson sank 1.4% after a Missouri jury ruled the pharmaceutical goods company owed US$4.7 billion, (RM19 billion) in damages in a lawsuit by families over allegations a talc sold by the company contained asbestos and caused them to suffer cancer.

The company said it would “pursue all available appellate remedies”.

Netflix shed 4.3% ahead of an earnings report Monday amid nervousness it will show slowing subscription growth. — AFP

S&P 500 at five-month high, but banks weigh after results

NEW YORK, July 14 — US stocks rose slightly yesterday, putting the S&P 500 at its highest closing level in more than five months, as gains in industrials and other areas offset a drop in financials after results from three of the big banks…

Wall Street flat as industrials offset slide in bank stocks

NEW YORK, July 13 — US stock indexes were little changed today as a slide in financials on the three big Wall Street banks reporting mixed results was offset by gains in industrials as the US-China trade rhetoric eased overnight. Wells Fargo’s…

Asian shares extend recovery on Wall Street gains

SHANGHAI, July 13 — Asian shares were higher today following gains on Wall Street overnight, as concerns over an escalating US trade war with China took a breather. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 per cent,…

Wall Street bounces back, technology and industrials lead

NEW YORK, July 13 — US stocks climbed yesterday as top technology names hit record highs and industrials rebounded from losses driven by trade worries the day before. Helping the move in tech, CA Inc jumped 18.7 per cent and was the biggest…

Wall Street snaps four-day rally, latest trade threat weighs

NEW YORK, July 12 — US stocks fell yesterday, breaking a four-session streak of gains after Washington's threat to impose tariffs on an additional US$200 billion (RM803 billion) worth of Chinese goods fanned trade war fears, while a sharp drop in…