A currency trader passes by the screen showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, July 23, 2024. Currency traders pass by the screen showing the Korea Composite Stock Price Index at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, July 23, 2024.
The People’s Bank of China also reduced collateral required by its medium-term lending facility and also reduced the interest rate for its standing lending facility by 10 basis points to 2.7% for its seven-day loans and 3.05% for its one-month loans. Besides Alphabet and Tesla, dozens of other big U.S. companies will also report their latest quarterly results this upcoming week, including Coca-Cola, Ford and American Airlines.
The gains were broad, with more than three-quarters of the stocks in the S&P 500 closing higher, although tech stocks accounted for much of the rally.and pushing Wall Street to records. Two of them, Alphabet and Tesla, will report on Tuesday how much profit they earned during the spring in a big test. Alphabet rose 2.3% and Tesla gained 5.1%..
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