USA stocks rally after Trump's Iran n-deal decision
12 May, 2018, 06:44 | Author: Brooke Harris
Gains in industrial and materials companies outweighed losses in safe-play sectors such as utilities and phone companies.
The Dow Jones industrial average climbed 182.33 points, or 0.7 percent, to 24,542.54. Benchmark U.S. crude oil climbed $2, or 2.9 percent, to $71.06 per barrel in NY.
S&P 500 e-minis ESc1 were up 7 points, or 0.26 percent and Nasdaq 100 e-minis NQc1 were up 31.75 points, or 0.47 percent.
The S&P energyindex.SPNY rose 1.9 percent after oil prices hit their highest levels in 3-1/2 years as investors anxious that Trump's decision would increase risks of conflict in the Middle East and curtail oil supplies in a tight market.
The Nasdaq is up 57.28 points, or 0.8 percent.
The S&P 500 rose on Friday, helped by healthcare stocks after PresidentDonald Trump blasted high drug prices but avoided taking aggressive measures to cut them.
Regeneron Pharmaceuticals jumped 6.2 percent to $306.94 and CVS Health gained 3.2 percent to $64.41. "Trump chose the incremental over the disruptive, which is the decisive factor for markets today".
The S&P 500 is up 24.18 points, or 0.9 percent.
Three quarters of companies have reported revenue above expectations, compared to 60 percent in a typical quarter.
The S&P 500 posted 25 new 52-week highs and seven new lows; the Nasdaq Composite recorded 124 new highs and 23 new lows.
The indexes moved higher for much of the morning as investors weighed the latest corporate quarterly results. Both companies gave disappointing outlooks.
Comcast fell 5.6 percent after Reuters reported the company wants to make a new offer for the entertainment businesses that Twenty-First Century Fox agreed to sell to Disney.
Walmart, Home Depot and other retailers are due to report quarterly results next week.
"We have very strong fundamentals from an earnings perspective and valuations are looking a bit more reasonable than they were late past year", said Bill Northey, senior vice president at U.S. Bank Wealth Management.
Benchmark U.S. crude oil fell 66 cents to settle at $70.70 a barrel in NY. Brent crude, which is used to price global oils, gained $2.11, or 2.8 percent, to $76.96 per barrel in London. Oil futures have remained near their highest level since 2014 this week following the Trump administration's decision to re-impose sanctions Iran, the world's fifth-biggest oil producer.
Bond prices fell. The yield on the 10-year Treasury note rose to 3 percent.
The dollar fell to 109.30 yen from 109.37 yen on Thursday. The euro weakened to $1.1856 from $1.1858.
Gold dipped 70 cents to $1,313 an ounce. Silver dropped 1 cent to $16.75 an ounce.
Trader Michael Capolino shouts out a bid on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2018. Natural gas slipped a penny to $2.80 per 1,000 cubic feet. ConocoPhillips shares finished 0.1% lower. Germany's DAX fell 0.2 percent and France's CAC 40 slid 0.1 percent. Australia's S&P/ASX 200 gained 0.3 percent.
The tech sector slipped 0.32 percent, with Apple Inc dropping 0.38 percent after a nine-day winning streak that saw the iPhone maker edge closer to $1 trillion in market capitalization. Over in Hong Kong, the Hang Seng Index advanced 0.59%.
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In response to the burgeoning controversy, Google released a statement claiming full disclosure will be built into the software. We'll see what that looks like when the Duplex technology rolls out in testing as a part of Google Assistant this summer.
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Earlier, Defence Minister Ishwar Pokhrel and Province 2 Chief Minister Lalbabu Raut received Modi at the airport upon his arrival. Similarly, Nepal is incomplete without India and India is incomplete without Nepal", he said.
Barclays Capital maintained the shares of SYMC in report on Thursday, February 1 with "Overweight" rating. Finally, Cambiar Investors LLC lifted its stake in shares of Symantec by 78.4% in the fourth quarter.
Speaking to reporters, he said: "If the player wants to go - if any player wants to leave - then I'm comfortable with that. Reacting to this, he said, "Wayne is a special player but if any player wants to leave they can, in my opinion".
A 14-year-old has been arrested after a classmate was shot in the arm with a rifle at their high school in California. KABC reported that the victim was a 17-year-old male who transported himself to the hospital after he was shot.
Kenya's Patel dam bursts, sweeping away homes in Solai
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Neymar's Father Pushing for a Summer Move to Real Madrid
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Cipriani gets warned by Eddie Jones
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Gina Haspel's Testimony About CIA Torture Raises New Questions
President Trump, however, praised Haspel's performance and released a contrasting statement to social media hours after McCain. Former Vice President Dick Cheney speaks during a memorial ceremony to honor the life of former House Minority Leader Rep.