Tuesday, 04 May 2021 07:39 AM MYT
The largest percentage gainer on the S&P 500 was oil field services firm Baker Hughes, which rose 8 per cent. Apparel retailers also finished strong, with Gap Inc shares jumping 7.1 per cent and Foot Locker Inc up 4.1 per cent. Volume on US exchanges was 10.29 billion shares, compared with the 9.86 billion average for the full session over the last 20 trading days.
The stocks have struggled to maintain the upward trajectory coming into reporting season. Chipmakers also fell, with the Philadelphia SE Semiconductor index down by 1.2 per cent. Strong earnings, improving economic data, fiscal stimulus and the Federal Reserve’s ultra accommodative stance have supported markets, pushing the S&P 500 and the Nasdaq indexes to record levels last week.