Wall Street closes sharply higher on strong corporate earnings

NEW YORK, July 20 — US stocks closed with sharp gains yesterday as more companies joined big banks in reporting earnings that beat forecasts, offering respite to investors worried about higher inflation and a tightening Fed denting the corporate bottomline.

Truist Financial Corp also beat market estimates for quarterly profit, sending the bank’s shares up 2.6 per cent. A strong dollar also weighed on shares of IT hardware and services company IBM Corp, which beat quarterly revenue expectations on Monday but warned the hit from forex for the year could be about US$3.5 billion .

The Dow Jones Industrial Average rose 754.44 points, or 2.43 per cent, to 31,827.05, the S&P 500 gained 105.84 points, or 2.76 per cent, to 3,936.69 and the Nasdaq Composite added 353.10 points, or 3.11 per cent, to 11,713.15.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Wall Street set to rise as earnings pick up paceNEW YORK, July 19 — Wall Street’s main indexes were set to open higher today as earnings season shifts to high gear beyond big banks, with investors keeping a closing eye on...
La source: malaymail - 🏆 1. / 86 Lire la suite »

Wall Street closes down on slide in Apple shares, bank stocksNEW YORK, July 19 — Wall Street ended lower yesterday after bank stocks erased earlier gains and Apple shares fell on a report saying the company plans to slow hiring and...
La source: malaymail - 🏆 1. / 86 Lire la suite »