Wall Street closes the week with an upbeat tune
U.S. equity indexes close up: Dow ~1.6%, S&P ~1.1%, Nasdaq ~1%
All S&P 500 sectors green; Industrials out front, up ~1.7%
Dollar ~flat; gold up ~1%; bitcoin up ~4%; crude drops ~2%
U.S. 10-Year Treasury yield slides to ~4.19%
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
WALL STREET CLOSES THE WEEK WITH AN UPBEAT TUNE
Wall Street's major indexes closed Friday's session higher after inflation data boosted investor hopes for a Federal Reserve rate cut. Semiconductors outperformed along with transports and industrials.
The Dow transports index .DJT, up 1.66% outperformed the S&P 500 .SPX, up 1.1%, with freight stocks rallying. Leading its index point contributions by miles was Norfolk Southern NSC.N, which closed up 10.9%, for its biggest one-day gain since March 2020 after its quarterly profit beat expectations thanks to robust pricing.
Railroad operator peer Union Pacific UNP.N was the index's next biggest boost with a 2% gain after its second-quarter profit also beat Wall Street estimates on strong pricing and increased volumes. This was even as the chair of the Senate Commerce Committee said on Friday that the company interfered in a federal safety audit after employees were coached how to respond, prompting the federal rail agency to end the review.
One of the benchmark S&P 500's biggest percentage gainers was Charter Communications CHTR.O, which rose 16.6% after reporting higher than expected Q2 revenue and fewer than expected internet customer defections.
Next was Bristol Myers BMY.N, adding 11.4%, after it posted stronger-than-expected Q2 results, driven by new drugs.
The S&P's 11 major industry sectors all gained with a 1.7% advance for industrials .SPLRCI at the top of the pile, with 3M MMM.N that sectors biggest gainer, up ~23% for a record one-day percentage gain. Energy .SPNY was the biggest lagged of the sectors, adding just 0.4%.
For the week, the Dow Industrials .DJI added 0.75% for its fourth straight week of gains. The S&P 500 fell 0.82% while the Nasdaq composite .IXIC dropped 2.09% with both registering their second consecutive weekly decline.
In small caps, the Russell 2000 .RUT closed up ~1.7% for the day and 3.47% for the week for its third weekly rise in a row.
Here is your closing snapshot:
(Sinéad Carew)
*****
FOR FRIDAY'S EARLIER LIVE MARKETS POSTS:
EARNINGS EXPECTATIONS CREEP HIGHER - CLICK HERE
INDIVIDUAL INVESTOR BULLS TUMBLE, BEARS JUMP - AAII - CLICK HERE
FRIDAY DATA OLYMPICS: PCE (ALMOST) STICKS THE LANDING - CLICK HERE
U.S. STOCKS RISE AS INFLATION READ POINTS TO RATE CUTS - CLICK HERE
U.S. STOCK FUTURES PARE GAINS SLIGHTLY AFTER PCE - CLICK HERE
DON'T CALL IT A ROTATION - CLICK HERE
MARKETS REACTING TO RECESSION THAT ISN'T THERE - CLICK HERE
EARNINGS HELP EUROPEAN INDEXES - CLICK HERE
BUSY BUSY - CLICK HERE
STOCKS ON FIRMER FOOTING AFTER WILD WEEK - CLICK HERE
Wall Street indexes end Friday's session higher https://tmsnrt.rs/3WCzlwQ
Mga Kaugnay na Asset
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.
