Strong Disney earnings push S&P 500, Dow to new peaks | Malay Mail

  • 📰 malaymail
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 86%

United States News News

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

AUG 13 — The Dow and the S&P 500 opened at record highs today, boosted by Walt Disney and tech-related shares, while signs of cooling inflation and a strong recovery in corporate earnings put the indexes on track for a second straight weekly gain. Six of the 11 major S&P sectors advanced...

AUG 13 — The Dow and the S&P 500 opened at record highs today, boosted by Walt Disney and tech-related shares, while signs of cooling inflation and a strong recovery in corporate earnings put the indexes on track for a second straight weekly gain.

A stellar earnings season, improving economic data and the Senate’s passage of a large infrastructure bill have all reinforced investors’ belief in the economic recovery, pushing US stocks to all-time highs in the past few sessions. “High inflation is not always a bad thing if it’s accompanied by strong economic growth and right now it is just indicative that the economy is doing very well.”

The Dow and S&P briefly eased from record highs after a survey showed US consumer sentiment dropped sharply in early August to a decade-low as Americans gave faltering outlooks on everything from personal finances to inflation and employment. Pfizer Inc and Moderna Inc gained 1.7 per cent and 1.6 per cent respectively, after the US Food and Drug Administration authorised a booster dose of their Covid-19 vaccines for people with compromised immune systems.

 

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

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