Wall St gains as easing Treasury yields lift megacaps
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
Apple falls after decline in China Q3 sales
Capri plummets after US judge blocks Tapestry merger
Centene jumps following Q3 profit beat
Indexes up: Dow 0.39%, S&P 500 0.67%, Nasdaq 1.13%
Updated at 09:52 a.m. ET/1352 GMT
By Lisa Pauline Mattackal and Purvi Agarwal
Oct 25 (Reuters) - The main U.S. indexes rose on Friday, as Treasury yields slipped from the week's high and relieved the pressure on megacaps, and investors awaited quarterly results from some of Wall Street's biggest companies next week.
The yield on the benchmark 10-year Treasury note dipped to 4.19% after rising as high as 4.26% earlier in the week.
The so-calledMagnificent Seven group of rate-sensitive stocks gained in early trading. Meta Platforms META.O was up 1.1%, Amazon.com AMZN.O gained 1.5%, while Nvidia NVDA.O advanced 1.2%.
Tesla's TSLA.O shares rose 3.1%, adding to a 22% surge in the previous session as investors cheered theEV-maker's strong sales forecast, which helped the benchmark index register its first daily advance of the week.
Shares of Apple AAPL.O reversed premarket declines and were last up 0.5%.
"The upward move in yields has paused for a bit, allowing the stock market to catch its breath and focus on company earnings, which by and large have been pretty good," said Ross Mayfield, investment strategist at Baird.
The week starting Oct. 28, the final stretch before the Nov. 5 U.S. presidential election, promises to be crucial for Wall Street. This is when results from megacap technology firms including AlphabetGOOGL.O, Apple AAPL.O and Microsoft MSFT.O are also due, along with the nonfarmpayrolls report for October.
The Dow Jones Industrial Average .DJI rose 167.26 points, or 0.39%, to 42,541.62, the S&P 500 .SPX gained 39.11 points, or 0.67%, to 5,848.97, and the Nasdaq Composite .IXIC gained 208.46 points, or 1.13%, to 18,623.95.
The Russell 2000 index .RUT, tracking the economically sensitive small-caps, was up 0.5%.
The benchmark S&P 500 and the blue-chip Dow looked set to snap their six-week winning streaks, with equities unsettled by the rapid rise in yields as Fed rate-cut bets unraveled on expectations of a stronger economic outlook.
Meanwhile, CapriHoldings CPRI.N slumped 44.8% after a U.S. judge blocked a pending merger between the company and handbag maker Tapestry TPR.N. Shares of Tapestry rose 12.5%.
Regional lender New York Community Bancorp NYCB.N dropped 8% after reporting its fourth straight quarter of loss , primarily due to its commercial real estate loans.
Memory-chip-maker Western Digital's WDC.O shares leapt 8.8% after it topped quarterly profit estimates on Thursday, while health insurer Centene CNC.N advanced 11.9% after beating estimates for third-quarterprofit.
A mixed set of earnings across sectors and continued uncertainty around the U.S. election have also made investors cautious, thoughmarkets have started pricing in a second Donald Trump administration in recent weeks.
"We're so close to the election that it does feel like markets are in a bit of a holding pattern," Mayfield said.
Data showed SeptemberDurable Goods orders slipped 0.8%, less than the 1% forecast. The Boston Fed's Susan Collins is scheduled to speak on the day. FED/DIARY
Investors are still pricing in another 25-basis-point rate cut at the U.S. Federal Reserve'sNovember meeting. They expect about two rate cuts by the end of the year, according to LSEG data.
Advancing issues outnumbered decliners by a 2.51-to-1 ratio on the NYSE, and by a 2.14-to-1 ratio on the Nasdaq.
The S&P 500 posted 29 new 52-week highs and no new lows, while the Nasdaq Composite recorded 48 new highs and 33 new lows.
USA-ELECTION/STOCKS Wall Street performs better under a unified government but... https://reut.rs/4hbOKMJ
Reporting by Lisa Mattackal and Purvi Agarwal in Bengaluru; Editing by Pooja Desai and Saumyadeb Chakrabarty
Ativos relacionados
Últimas notícias
Isenção de Responsabilidade: As entidades do XM Group proporcionam serviço de apenas-execução e acesso à nossa plataforma online de negociação, permitindo a visualização e/ou uso do conteúdo disponível no website ou através deste, o que não se destina a alterar ou a expandir o supracitado. Tal acesso e uso estão sempre sujeitos a: (i) Termos e Condições; (ii) Avisos de Risco; e (iii) Termos de Responsabilidade. Este, é desta forma, fornecido como informação generalizada. Particularmente, por favor esteja ciente que os conteúdos da nossa plataforma online de negociação não constituem solicitação ou oferta para iniciar qualquer transação nos mercados financeiros. Negociar em qualquer mercado financeiro envolve um nível de risco significativo de perda do capital.
Todo o material publicado na nossa plataforma de negociação online tem apenas objetivos educacionais/informativos e não contém — e não deve ser considerado conter — conselhos e recomendações financeiras, de negociação ou fiscalidade de investimentos, registo de preços de negociação, oferta e solicitação de transação em qualquer instrumento financeiro ou promoção financeira não solicitada direcionadas a si.
Qual conteúdo obtido por uma terceira parte, assim como o conteúdo preparado pela XM, tais como, opiniões, pesquisa, análises, preços, outra informação ou links para websites de terceiras partes contidos neste website são prestados "no estado em que se encontram", como um comentário de mercado generalizado e não constitui conselho de investimento. Na medida em que qualquer conteúdo é construído como pesquisa de investimento, deve considerar e aceitar que este não tem como objetivo e nem foi preparado de acordo com os requisitos legais concebidos para promover a independência da pesquisa de investimento, desta forma, deve ser considerado material de marketing sob as leis e regulações relevantes. Por favor, certifique-se que leu e compreendeu a nossa Notificação sobre Pesquisa de Investimento não-independente e o Aviso de Risco, relativos à informação supracitada, os quais podem ser acedidos aqui.
