US stocks rise to a record on expectations companies will make even fatter profits
Analysts expect nearly 30% earnings-per-share growth as AI-related gains, corporate beats and lower bond yields support stocks, FactSet said.
- On Tuesday, the S&P 500 climbed 0.7% to surpass its August record, while the Dow Jones Industrial Average rose 0.6% and the Nasdaq composite reached an all-time high.
- Analysts expect S&P 500 companies to deliver nearly 30% growth in earnings per share from a year earlier, according to FactSet, marking a third straight quarter of growth exceeding 25%.
- Constellation Energy jumped 11.7% after announcing a long-term deal to supply Google with electricity, while Lamb Weston rallied 8.2% after beating quarterly profit projections.
- Yields on the 10-year Treasury eased to 5.26% from 5.31% late Monday, and Brent crude oil settled at $100.58, helping ease inflation pressure on markets.
- Despite inflation and bond yield concerns, strategists at Barclays Capital say rising earnings help investors "win the tug-of-war against yields" and sustain market gains.
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The three major U.S. stock indices rose across the board on the 6th (local time). Driven by growing expectations ahead of third-quarter corporate earnings announcements set to begin in earnest next week, coupled with a decline in U.S. Treasury yields that had surged the previous day, the S&P 500 and Nasdaq indices both closed at all-time highs. On this day, the Dow Jones 30 Industrial Average finished trading at 51,521.28, up 253.38 points (0.49…
The New York Stock Exchange closed with gains. The S&P 500 index broke the 7,800-point barrier for the first time, while the Nasdaq index also set a record, against the backdrop of falling US government bond yields and stabilizing oil prices. The Dow Jones industrial average closed up 253.38 points (+0.49%), at 51,521.28 points. The Nasdaq index, dominated by technology stocks, closed up 122.48 points (+0.45%), at 27,599.79 points. The broader S…
With Profit Reports Incoming, Stocks Hit New Records
The US stock market has never been higher, even though the list of challenges reporting away at it keeps growing. The S&P 500 rose 44.98 points, or 0.6%, to 7,818.93 Tuesday to a new record, topping its prior all-time high set in August. The Dow Jones...
Wall Street closes with profits, driven by moderation in bond yields and the rise of major technology.Nasdaq and S&P 500 set new records, while investors await the business performance season.
The Nasdaq index (+0.45%) and the expanded S&P 500 index (+0.58%) both recorded new closing records, reaching 27.599.79 points and 7.818.93 points respectively. The Dow Jones won 0.49%. After several days of continuous rise, a relative lull in the bond market supports Wall Street today, explains to CFRA analyst AFP Sam Stovall. "We have the feeling" that the rise in the rates of the last few days was "primarily a panic movement, which now seems …
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