Stocks rise on Wall Street after several days of whiplash

  • 📰 chicagotribune
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 91%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Stocks rose in late morning trading on Wall Street Thursday as markets settle down following several days of whiplash moves both up and down.

The S&P 500 index rose 1.2% as of 11:41 a.m. Eastern. More than 80% of stocks within the benchmark index made gains and it is now in the green for the week.Technology stocks led the gains as investors felt comfortable shifting money into areas of the market with higher risks. Technology heavyweight Microsoft rose 3.2% and iPhone maker Apple rose 2.2%.Banks, communications companies and industrial firms also made solid gains.

The Fed has been monitoring the impact of inflation on businesses and consumers and Fed Chair Jerome Powell acknowledged that the pressure isn’t lessening. That could mean the central bank has to take an even more aggressive approach to raising interest rates and removing the support it put in place for markets.

Investors are closely watching the latest round of corporate earnings to gauge just how much companies are getting hurt by inflation and how they expect it to impact them moving forward. Solid earnings did help push shares for many other companies higher. ServiceNow rose 11.7% after the maker of software that automates companies’ technology operations reported strong financial results. Electronic storage maker Seagate Technology rose 14.3% and jeans maker Levi Strauss rose 10.9% after also reporting encouraging financial results.

 

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

POLOTICIANS GETTING MUCH MUCH RICHER AS THEY HURT THEY HURT THE AMERICAN PEOPLE FINANCIALY NICE JOB GUYS PROUD OF YOU

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:

 /  🏆 8. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

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

“The Biggest Tech Earnings Season In 10 Years”: As Tech Stocks Crater And Recover, Fundamentals MatterIn a volatile market for tech stocks, it's time to pay attention to fundamentals as the earnings season gets underway. Tech will always matter.
Source: ForbesTech - 🏆 318. / 59 Read more »

Jim Cramer says these hard-hit stocks are profitable and now look cheap enough to buyThe 'Mad Money' host sifted through the Russell 3000 to find stocks down more than 50% from their highs that sell for less than 50 times earnings. とは言うものの、決定権は、投資家にないもんな〜。
Source: CNBC - 🏆 12. / 72 Read more »

Forex Today: Dollar rallies, global stocks plunge, focus shifts to US GDP dataHere is what you need to know on Thursday, January 27: FOMC Chairman Jerome Powell's hawkish remarks late Wednesday triggered a dollar rally and weigh
Source: FXStreetNews - 🏆 14. / 72 Read more »