• 1,760
  • 1,157
  • 收藏

S&P 500 ends higher after Powell lulls market

Reuters2021-07-15

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

  • Powell says economy 'a ways off' from bond taper.
  • BofA slips as low interest rates hurt lending business.
  • American Airlines up on positive forecast.

July 14 (Reuters) - The S&P 500 ended with a gain after briefly hitting an intra-day record in a choppy session on Wednesday, as investors balanced worries about inflation with reassuring comments from Fed Chair Jerome Powell.

Of the 11 S&P 500 sector indexes, utilities and consumer staples were among the strongest, while energy sank over 3%.

U.S. monetary policy will offer "powerful support" to the economy "until the recovery is complete," Powell told a congressional hearing in remarks that portrayed a recent jump in inflation as temporary and focused on the need for continued job growth.

Powell's comments followed data this week showing U.S. producer prices increased more than expected in June and U.S. consumer prices rose by the most in 13 years.

Investors in recent weeks have focused on inflation, with many fearing a possible hawkish shift by the Federal Reserve, as well as a spike in coronavirus infections that could knock U.S. equities off record highs.

With banks kicking off second-quarter earnings season this week, analysts expect 66% growth in earnings per share for S&P 500 companies, according to IBES estimate data from Refinitiv.

The S&P 500 is up about 16% so far this year, leading many investors to worry that the stock market rally may run out of steam, and they are looking to earnings to potentially provide more fuel.

"Everyone knows earnings are going to be very strong. The question is how the market reacts to those earnings, and what are the outlooks given by management. That is more critical than anything," said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.

Apple Inc hit a record high after Bloomberg reported that the company wants suppliers to increase production of its upcoming iPhone by about 20%.

Microsoft also hit a record high after saying it will offer its Windows operating system as a cloud-based service, aiming to make it easier to access business apps that need Windows from a broader range of devices.

Microsoft and Apple supported the S&P 500 more than any other stocks.

$Bank of America Corp(BAC-N)$ dropped after the lender posted its quarterly results and detailed its sensitivity to low interest rates

Wells Fargo rose after it swung to a profit in the second quarter, smashing Wall Street expectations. Citigroup

fell after comfortably beat market estimates for second-quarter profits.

Those reports followed strong results on Tuesday from JPMorgan Chase & Co and Goldman Sachs Group Inc .

Unofficially, the Dow Jones Industrial Average rose 0.12% to end at 34,930.34 points, while the S&P 500 gained 0.10% to 4,373.55.

The Nasdaq Composite dropped 0.26% to 14,639.60.

American Airlines rallied after it forecast positive cash flow.

Lululemon Athletica jumped after Goldman Sachs called the yoga pants seller a "top idea" as apparel makers benefit from the economic reopening.

(Reporting by Noel Randewich; Additional reporting by Devik Jain and Shreyashi Sanyal in Bengaluru; Editing by Maju Samuel and Cynthia Osterman)

免责声明:本文观点仅代表作者个人观点,不构成本平台的投资建议,本平台不对文章信息准确性、完整性和及时性做出任何保证,亦不对因使用或信赖文章信息引发的任何损失承担责任。

举报

评论1157

  • ruinsaint
    ·2021-07-16
    Haha
    回复
    举报
  • 23a2d027
    ·2021-07-15
    wow
    回复
    举报
  • jer88
    ·2021-07-15
    Pls like and comment 
    回复
    举报
    收起
    • superpopo
      don't want
      2021-07-15
      回复
      举报
  • Lilianpc
    ·2021-07-15
    Liked
    回复
    举报
  • Weineng
    ·2021-07-15
    Pls like thx
    回复
    举报
  • Swifty
    ·2021-07-15
    Oo
    回复
    举报
  • J1000
    ·2021-07-15
    Thank you 
    回复
    举报
    收起
    • Weineng
      ok
      2021-07-15
      回复
      举报
  • junhan
    ·2021-07-15
    Like and comment thx
    回复
    举报
    收起
    • Kenneth89
      Kindly comment and like
      2021-07-15
      回复
      举报
  • tantantan
    ·2021-07-15
    ok
    回复
    举报
    收起
  • Derrick0359
    ·2021-07-15
    Pls comment 
    回复
    举报
    收起
    • WYMei
      Ok
      2021-07-15
      回复
      举报
  • Gunners80
    ·2021-07-15
    Nice move
    回复
    举报
    收起
  • 超级白
    ·2021-07-15
    Hello
    回复
    举报
  • Tiffany81
    ·2021-07-15
    Like and comment
    回复
    举报
    收起
    • 超级白
      wow
      2021-07-15
      回复
      举报
    • Kahchun
      Wow
      2021-07-15
      回复
      举报
  • 960f93a
    ·2021-07-15
    Finally
    回复
    举报
  • lost0star
    ·2021-07-15
    Okay
    回复
    举报
    收起
  • CKChan
    ·2021-07-15
    Like and comment pls
    回复
    举报
    收起
  • JSiew
    ·2021-07-15
    Like please
    回复
    举报
    收起
    • CKChan
      Sure
      2021-07-15
      回复
      举报
  • ScarletHeart
    ·2021-07-15
    like and comment pls
    回复
    举报
    收起
    • JSiew
      Ok
      2021-07-15
      回复
      举报
  • Alconies
    ·2021-07-15
    Like please
    回复
    举报
    收起
  • sheenayam
    ·2021-07-15
    Please like and share
    回复
    举报
    收起
    • Kanyon
      Ok
      2021-07-15
      回复
      举报
 
 
 
 

热议股票

 
 
 
 
 

7x24