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Wall Street climbs on stimulus, dovish Fed bets ahead of earnings rush | Malay Mail

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NEW YORK, July 27 — US stocks rose today after a two-day slide, as investors shrugged off surging Covid-19 cases and US-China tensions, betting instead on more stimulus and a dovish signal from the Federal Reserve to revive a battered domestic economy. Still, safe haven assets were in demand with...

Monday, 27 Jul 2020 11:05 PM MYT

Still, safe haven assets were in demand with gold prices notching a record high amid concerns over a diplomatic row between the United States and China, escalating Covid-19 cases in southern and western US states and an unexpected rise in US jobless claims last week. Investors are also keeping a close watch on progress over the next round of government aid ahead of enhanced unemployment benefits set to expire on Friday.

Apple Inc, Amazon.com Inc, Facebook Inc and Alphabet Inc rose between 1.8 per cent and 2.6 per cent, and were among the top boosts to the S&P 500 and Nasdaq. They are among the 189 S&P 500 companies expected to report results this week. Investors will get the first glimpse of the second-quarter US GDP report on Thursday, which is likely to show the economy contracted by 34 per cent in the three-month period.

 

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