us stocks


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…

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…

Wall Street slides as US-China trade war escalates

NEW YORK, July 11 — US stocks slid today amid a broad selloff on escalating trade war tensions after the United States threatened to impose tariffs on an additional US$200 billion (RM804.7 billion) worth of Chinese goods. Washington yesterday…

Most South-east Asia stocks up, Singapore, Jakarta extend rally

SINGAPORE, July 10 — Most South-east Asian stock markets climbed today, with Singapore and Indonesia extending their rally, as US stocks gained overnight on hopes of strong corporate earnings, boosting positive sentiment across Asia. Asian shares…

Dow, S&P 500 post best days in more than a month, banks lead gains

NEW YORK, July 10 — US stocks rose yesterday, giving the Dow and S&P 500 their biggest gains in more than a month, as bank shares jumped ahead of earnings reports later this week. Industrial, energy and consumer discretionary shares also rose…

Wall St enters third day of gains as trade fears ease

NEW YORK, July 9 — US stocks rose today, with bank stocks leading third day of gains in a row after strong US jobs data from last week helped investors brush aside trade concerns. The S&P financial index rose 1.3 per cent, providing the…