Business
Wall Street clings to modest gains, marks another winning week
HONG KONG Stocks held on to modest gains on Wall Street Friday, giving the market a new record high and a winning week.
The listless day for stocks capped a mostly solid earnings week in which the technology sector once again propelled the market higher. The sector was the engine of a recovery that began in October.
The S&P 500 index rose 1.77 points, or less than 0.1%, to 5,088.80. It was another record high for the benchmark index and its sixth winning week in the last seven.
The Dow Jones Industrial Average rose 62.42 points, or 0.2%, to 39,131.53. The Nasdaq slipped 44.80 points, or 0.3%, to 15,996.82.
Weakness in some technology companies weighed on the market, representing a reversal from Thursday. Apple fell 1%. Nvidia made a gain of 0.4%, after surpassing the $2 trillion valuation mark earlier in the day. The chipmaker surged on Thursday after reporting blockbuster demand for its semiconductors, used to power AI applications.
A pullback in travel-related companies also dampened gains elsewhere in the market. Booking.com fell 10.1%, dragging other travel-related companies down. The online travel service beat Wall Street's fourth-quarter sales and profit targets but issued tepid forecasts that spooked investors. Its competitor Expedia Group fell 2%.
Investors are optimistic, with political uncertainty, high valuations and Fed uncertainty unlikely to dampen market momentum,” said Mark Hackett, head of investment research at Nationwide.
Profits remained the main concern. Ticket seller and concert promoter Living Nation rose 2% after beating analysts' revenue forecasts. Sleep Number, which sells beds and bedding products, jumped 33% after beating Wall Street revenue forecasts.
On the losing side, Warner Bros. Discovery fell 9.9% after reporting a wider loss than Wall Street expected.
Aside from profits, Intuitive Machines, the company that manufactured the first lunar landing in more than 50 years, has soared by 15.8%.
Energy stocks were mostly lower due to lower oil and natural gas prices. U.S. crude oil prices fell 2.7% and natural gas prices fell 7.4%.
Treasury yields fell. The 10-year Treasury yield fell to 4.26% from 4.33% Thursday evening.
Markets were mainly up in Europe and Asia. Tokyo markets were closed for a public holiday, a day after hitting a record high.
Investors have other important earnings to look at next week as they try to get a better idea of where the economy is heading. Home improvement retailer Lowe's and discount retailer Dollar Tree will report results. Computer maker HP and electronics retailer Best Buy will also report results.
Analysts polled by FactSet expect S&P 500 companies to report earnings growth of just under 4% for the fourth quarter. About 90% of the companies in the index have already published a report. Analysts expect earnings growth of 3.6% for the current quarter.
Wall Street will also get more economic data that could further clarify how consumers are feeling and whether inflation continues to cool. The Conference Board will release its consumer confidence survey for February and the government will provide another update on gross domestic product during the fourth quarter.
The focus will be on inflation data from the government's January report on consumption and personal spending. This is the Federal Reserve's preferred measure of inflation and is expected to cool to 2.4%. It peaked at 7.1% in June 2022.
THE The Fed tries to control inflation back to its 2% target and last week's data on consumer and wholesale prices came in higher than Wall Street expected. That prompted Wall Street to push back against expectations that the central bank would begin cutting its benchmark interest rates. Traders now expect the Fed to cut rates in June instead of March.
Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
|
Sources 2/ https://www.clickorlando.com/business/2024/02/23/stock-market-today-asian-stocks-advance-after-nvidia-sets-off-a-rally-on-wall-street/ The mention sources can contact us to remove/changing this article |
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]
 |
 |
 |
