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Wall Street ends higher, powered by strong earnings, economic cheer | Malay Mail

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NEW YORK, July 22 — Wall Street stocks posted their second straight daily gain on Wednesday, with robust corporate earnings and renewed optimism about the US economic recovery fueling a risk-on rally. All three major US stock indexes added to their previous session’s advance, placing all three...

NEW YORK, July 22 — Wall Street stocks posted their second straight daily gain on Wednesday, with robust corporate earnings and renewed optimism about the US economic recovery fueling a risk-on rally.

Benchmark US Treasury yields continued their bounce from five-month lows following a weak 20-year bond auction, which benefited rate-sensitive banks. Of the 11 major sectors in the S&P 500, energy stocks were the big winners, jumping 3.5 per cent with the help of surging crude prices. Drugmaker Johnson & Johnson forecast US$2.5 billion in sales from its one-shot Covid vaccine this year and hiked its sales estimates. It closed up a modest 0.6 per cent.

Texas Instruments dipped more than 3 per cent in extended trading following results posted after the bell.

 

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