News Formal

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

  • 📰 malaymail
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 86%

United States News News

United States United States Latest News,United States United States Headlines

NEW YORK, July 22 ― The S&P 500 edged higher yesterday, as investors rotated into economically sensitive cyclical stocks, optimistic that Washington will deliver a new round of stimulus to sustain the US economic recovery from a pandemic-induced recession. Financial, industrial and energy...

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States 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 »