REUTERS: U.S. stocks rose on Monday, lifted by technology companies, as investors eyed fresh U.S.-China trade developments during a busy week of corporate earnings with results from marquee names including Facebook and Amazon on tap.
As earnings season progresses, profits at S&P 500 companies are now estimated to rise about 1per cent, according to Refinitiv IBES data, in a reversal from earlier expectations of a small drop. Hopes of an interest rate cut helped Wall Street's main indexes recover from a slump in May and scale record levels.
Semiconductor companies likely got a boost from news that White House economic adviser Larry Kudlow will host a meeting with semiconductor and software executives on Monday to discuss the U.S. ban on sales to China's Huawei Technologies .
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Hong Kong: Stocks start on negative note[HONG KONG] Hong Kong stocks opened lower on Monday morning following a negative lead from Wall Street on fading hopes for a deep Federal Reserve interest rate cut. Read more at The Business Times.
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