- Major U.S. stock indexes ended with fractional gains on Friday following mixed earnings results as investors assessed how conflicting economic data might influence interest rates and looked ahead to a massive week of corporate reports.
A survey showed U.S. business activity accelerated to an 11-month high in April, further clouding the outlook for the Federal Reserve's monetary policy after data earlier in the week indicated a weakening economy. Procter & Gamble Co's shares rose 3.5% as customers kept buying despite repeated price hikes, helping the maker of products raging from Tide detergent and Gillette razors to Head & Shoulders shampoo and Crest toothpaste boost its sales forecast and third-quarter margins.has been generally stable over early stages of a first-quarter earnings season that investors expect to show tepid results.
“The market has been basically in a bit of a holding pattern ahead of big tech earnings next week,” said Keith Lerner, co-chief investment officer at Truist Advisory Services."There is a tug of war between good and bad economic data, good and bad earnings data.”
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