S&P 500 closes slightly higher as stimulus hopes lift cyclical stocks | Malay Mail

Wednesday, 22 Jul 2020 07:21 AM MYT

Financial, industrial and energy stocks gave the biggest boosts to the bellwether S&P 500 and blue-chip Dow as investors pivoted back to cyclicals. The march upward lost steam late in the session, and a drop in tech shares pulled the Nasdaq lower. “A pick-up in demand is being seen throughout the economy as things have opened up,” Tuz added. “We're at the cusp of continuing with the recovery or stagnation.”

Second-quarter reporting season rolled on, with 58 constituents of the S&P 500 having reported. Of those, 77.6 per cent have come in above consensus, according to Refinitiv data. Defense industrial Lockheed Martin Corp topped quarterly consensus estimates and raised its full-year profit and revenue estimates, sending its shares up 2.6 per cent.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Radrizzani wants new Leeds investment for Premier League return | Malay MailLONDON, July 21 — Leeds owner Andrea Radrizzani said yesterday his club will need a cash injection if they are to be competitive in the Premier League next season. Marcelo Bielsa’s side have ended their 16-year exile from the English top-flight after clinching promotion as Championship winners....
Source: malaymail - 🏆 1. / 86 Read more »