|Day's range||27,068.79 - 27,266.81|
|52-week range||21,712.53 - 27,398.68|
Earnings season is underway and corporate buybacks are set to boost earnings per share for S&P 500 companies.
The company, along with Apple, helped lift the technology sector to lead the broader gains. BB&T rose 2.9% and SunTrust Banks rose 2.7%. Danaher rose 2.4% after reporting solid second quarter financial results.
Investing.com – Wall Street fell on Thursday as Netflix (NASDAQ:NFLX) struck a bitter note to start the tech sector's earnings season.
Losses in Netflix triggered a 1.58% fall in the communication services sector, one of the best-performing S&P sectors so far this year. Technology giant Microsoft Corp slipped 0.8% ahead of its results after markets close. As second-quarter earnings rolled in this week, the three main Wall Street indexes retreated slightly from record highs and are set for their steepest weekly fall in seven weeks.
A gauge of global stocks lost ground for a third straight session on Thursday on worries over how the trade war between the United States and China could take a toll on corporate earnings, while oil prices dropped on expectations of rising output. "The stock market seems to be running out of energy," said John Augustine, chief investment officer of Huntington Private Bank in Columbus, Ohio. "Earnings have met expectations, but companies are being cautious about future quarters, which is something that's not able to keep the S&P 500 above the 3,000 level," Augustine said.
Investing.com – Wall Street was flat on Wednesday as concerns that lower interest rates will hit corporate bank earnings kept investors in check.
FT subscribers can click here to receive Market Forces every day by email. Reflation is what central banks and those holding risk assets want to see and that's why a rate cut looms from the Federal Reserve at the end of the month. Glancing at inflation break-evens — bond market measures of inflation expectations — does show some progress on that front.
Asian stocks were mixed Wednesday after Wall Street ended a five-day winning streak following disappointing corporate earnings reports. Japan's benchmark Nikkei 225 dipped 0.3% to 21,475.38 in morning trading. President Donald Trump told a Cabinet meeting Tuesday that he was still waiting to see if China would buy more farm products as he expects.
Bank of America Merrill Lynch releases its monthly survey on how fund managers feel about the stock market.
Investing.com – Wall Street was flat on Tuesday after mixed earnings from Goldman Sachs (NYSE:GS), JP Morgan and Wells Fargo (NYSE:WFC) reminded investors of uncertainties to the economic outlook - and of some negative consequences of interest rate cuts from the Federal Reserve.
Global stock markets were mostly higher on Tuesday after several major U.S. companies reported quarterly earnings that were better than expected. Banks Wells Fargo and Goldman Sachs reported second quarter results that beat estimates, pushing up shares in pre-trading.
Most Asian stock markets rose on Monday, but gains were limited as investors awaited U.S. retail sales data and corporate earnings to gauge the health of the world's biggest economy ahead of a likely U.S. rate cut later this month. German DAX futures were up 0.04%, FTSE futures were down 0.18%, and financial spreadbetters saw France's CAC 40 opening flat. China's blue-chip CSI300 index fell 0.3% as investors fretted over slower growth in the world's second-largest economy and the impact of the Sino-U.S. trade war, even as new data highlighted Beijing's efforts to boost spending.
Citigroup beat estimates with some help from its consumer cards business and a trading platform's IPO, but can other big banks rely on the same help in their earnings this week?