Nasdaq scales new high ahead of big-tech earnings; cyclicals lag | Malay Mail

Wall Street’s main indexes touched record highs last week on hopes of a full economic reopening. — Reuters pic

Microsoft, scheduled to report results tomorrow, rose 0.7 per cent as Wedbush raised its price target on the software maker’s stock on expectations of further growth in its cloud business for 2021. Earnings for S&P 500 companies are expected to rise 23.7 per cent this year after falling 14.1 per cent in 2020, according to Refinitiv.

Wall Street’s main indexes touched record highs last week on hopes of a full economic reopening and efficient distribution of vaccines across the country, which is suffering from more than 175,000 new Covid-19 cases a day with millions out of work. Merck & Co Inc fell 0.8 per cent after the drugmaker said it would stop development of its two Covid-19 vaccines citing inferior immune responses.

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S&P 500, Nasdaq close at record highs ahead of tech earnings wave | Malay MailNEW YORK, April 27 ― The S&P 500 and Nasdaq closed at record highs yesterday, fuelled by Tesla Inc and other heavyweight growth stocks ahead of a deluge of earnings reports this week. The Nasdaq's record high close confirmed the end of an 11 per cent correction in the index that began after...
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Nasdaq leads US stocks down amid valuation worries | Malay MailNEW YORK, May 4 — Wall Street stocks tumbled early today, with tech shares especially weak, amid worries over excess equity valuations as the US trade deficit hit a new all-time high. After a string of records in 2021, stocks are running into worries over “peak growth,” said Briefing.com...
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