The Nasdaq's record high close confirmed the end of an 11 per cent correction in the index that began after its previous record high close on February 12, with the index closing at a low on March 8. — Reuters picNEW YORK, April 27 ― The S&P 500 and Nasdaq closed at record highs yesterday, fuelled by Tesla Inc and other heavyweight growth stocks ahead of a deluge of earnings reports this week.
Companies that constitute about 40 per cent of the S&P 500's market capitalisation report from Tuesday through Thursday, including Microsoft Corp, Google parent Alphabet Inc, Apple Inc and Facebook Inc. Shares of those companies also rose. “We’re way above the average for firms reporting earnings above estimates. More important than the fact that they are beating on estimates is that they are raising their expectations and outlooks going forward, and that’s giving the markets a nice boost,” said Sal Bruno, chief investment officer at IndexIQ.
The Dow Jones Industrial Average fell 0.18 per cent to end at 33,981.57 points, while the S&P 500 gained 0.18 per cent to 4,187.62.Market participants are also watching out for any fresh developments on US President Joe Biden's tax plan after reports last week said he would seek to nearly double the capital gains tax to 39.6 per cent for wealthy individuals.
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:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street drifts lower; S&P 500 on track for third straight month of gains | Malay MailNEW YORK, April 30 — Wall Street’s three main indexes fell today as investors hit pause after a barrage of strong quarterly earnings and upbeat economic data put the benchmark S&P 500 index on track for a third straight month of gains following a record run. The Nasdaq is also positioned...
Source: malaymail - 🏆 1. / 86 Read more »
In Petaling Jaya, man fined RM5,500 for kicking, threatening apartment committee member | Malay MailPETALING JAYA, May 3 — A man was fined RM5,500 by the Magistrates’ Court today after he pleaded guilty to causing mischief, kicking and threatening a management committee member at an apartment two years ago after he lost his temper when was asked to park his car properly which resulted in an...
Source: malaymail - 🏆 1. / 86 Read more »
‘Reopening’ stocks give S&P 500, Dow strong footing, tech names lag | Malay MailNEW YORK, May 4 — The S&P 500 and the Dow indexes ended higher yesterday amid a largely upbeat earnings season, while the Nasdaq came under pressure from declines in some high-flying growth stocks, as the rotation into cyclical and “economy reopening” stocks continued. Economy-sensitive...
Source: malaymail - 🏆 1. / 86 Read more »
Over 500 vehicles ordered to turn back at Kelantan borders, say police | Malay MailPASIR MAS, May 9 — More than 500 vehicles attempting to enter the state without interstate travel permit were ordered to turn back yesterday, said Kelantan police chief Datuk Shafien Mamat. He said the number was recorded between 12 am and 5 pm yesterday, at the three main entry points to the...
Source: malaymail - 🏆 1. / 86 Read more »
S&P hits record, Nasdaq rallies as weak jobs data eases Fed taper worries | Malay MailMAY 7 — The S&P 500 and the Dow Jones Industrials hit record highs today, while the technology-heavy Nasdaq index jumped after weak US jobs data eased worries about the Federal Reserve reducing its massive stimulus program anytime soon. The Labor Department’s closely watched employment...
Source: malaymail - 🏆 1. / 86 Read more »