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Wall St gains with upbeat earnings and forecasts

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U.S. stocks ended higher, boosted by a strong earnings season and data that showed the U.S. economy grew solidly in the second quarter, putting the level of GDP above the pre-health crisis peak

With rising inflation and concerns that higher prices would not be as transient as expected, focus on Friday will be on the June reading of the personal consumption expenditures price index.

Volume on U.S. exchanges was 9.13 billion shares, compared with the average of about 9.86 billion for the full session over the last 20 trading days. Advancing issues outnumbered declining ones on the NYSE by a 2.34-to-1 ratio; on Nasdaq, a 1.22-to-1 ratio favored advancers. The S&P 500 posted 76 new 52-week highs and 1 new low; the Nasdaq Composite recorded 105 new highs and 49 new lows.

Reporting by Caroline Valetkevitch in New York Additional reporting by Sagarika Jaisinghani in Bengaluru Editing by Maju Samuel and Matthew LewisSubscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.

 

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Wall St rises as earnings lift outlookU.S. stocks ended higher on Thursday, boosted by robust U.S. earnings and forecasts, while data showed the U.S. economy was above its pre-pandemic level.
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