Wall Street drifts higher after upbeat US business surveys

REUTERS: Wall Street's main indexes nudged higher on Friday with the tech-heavy Nasdaq notching another record high, as data highlighted the pockets of strength in the U.S. economy.

The unexpectedly sharp increases in Markit's indexes continue a pattern of choppy U.S. economic data this week - including weekly jobless claims - that paint a picture of a fitful recovery from the COVID-19 recession. "The uncertainty and choppiness are driving people back to some of the more traditional trades that have stayed immune through the course of the pandemic," said Mike Stritch, chief investment officer at BMO Wealth Management in Chicago.On Tuesday, the S&P 500 clinched a record high, recouping the last of its losses caused by the coronavirus-driven slump and joining the Nasdaq in notching new highs.

Technology , consumer discretionary and industrials were the only major S&P sectors in positive territory.Deere & Co rose 5per cent after the world's largest farm equipment maker revised up its full-year earnings forecast.

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US: Wall Street subdued at open ahead of US business surveys[BENGALURU] US stocks opened little changed on Friday following the tech-heavy Nasdaq's all-time high in the previous session as focus shifted to business surveys for more cues on the economic recovery. Read more at The Business Times.
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Wall Street inches higher after upbeat US business surveysU.S. stock index futures ticked lower on Friday, a day after the tech-heavy Nasdaq closed at a record high, as investors awaited U.S. business ...
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Europe: Wall Street sets upbeat tone for stocks, UK airlines jump[BENGALURU] European stocks closed higher on Wednesday following new record highs for Wall Street's main indexes, while UK airlines rallied on hopes of a shorter quarantine period for travellers. Read more at The Business Times.
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