Stocks rose Monday as investors considered another set of corporate earnings reports and awaited a slew of data on the state of the labor market this week as parts of the country continue to grapple with a rise in coronavirus cases.
Earnings season continues this week with another packed calendar for quarterly results. Meanwhile, the July jobs report is set for release Friday.
Stocks ended higher on Friday, with the Nasdaq outperforming after a slew of better than expected corporate earnings results from major tech firms. Facebook and Apple posted record closing highs.
Facebook reported second-quarter results that handily topped estimates, growing its user base and advertising business further during the pandemic even as the social media giant came under increased scrutiny for its policies around policing harmful content on its platforms.
Two new reports affirmed the worst quarterly drop in economic activity on record during Q2 and showed a second straight increase in weekly unemployment claims.
The Q2 GDP report captured the period from April through June, when the coronavirus pandemic forced business closures and disrupted daily activity.
Stocks traded mixed Tuesday, paring earlier declines with stimulus talks in Washington, updates on the Covid-19 vaccine front and corporate earnings results front and center.
Stocks were mixed Monday morning ahead of a busy week of corporate earnings results, a Federal Open Market Committee monetary policy meeting and plethora of economic data reports.
Investors this week are gearing up for a busy week of earnings, economic data reports and the Federal Reserve’s July monetary policy meeting.
Stocks fell Friday as relations between the US and China were tested further, and after a handful of companies reported quarterly results that disappointed Wall Street. Each of the three major indices logged weekly losses by the end of the session.
Stocks erased gains from pre-market trading Thursday morning, with investors focused on the U.S.’s unchecked coronavirus crisis and a new rise in jobless claims.
Another 1.416 million Americans filed for first-time unemployment insurance benefits last week, signaling a weakening trend in the labor market as states across the US grapple with a resurgence in coronavirus cases. The result marked the first increase in new claims on a week over week basis since March.
Stocks rose Wednesday, shaking off earlier concerns as tensions appeared to flare again between the US and China. Pfizer led gains in the 30-stock Dow, after the drugmaker and a partner announced a near $2 billion agreement with the US government over its Covid-19 vaccine candidate. And investors also digested a batch of corporate earnings results, and eyed a rocky start to talks over another round of coronavirus-related fiscal stimulus in Washington.
Stocks pared earlier gains, but still held mostly higher after European Union leaders agreed to a breakthrough fiscal stimulus deal to help support the virus-stricken region. The Nasdaq Composite hit a record high before retreating.
Stocks rose Monday as investors looked ahead to a packed week of earnings, stimulus talks and congressional testimony from Covid-19 vaccine developers.
Vaccine manufacturers testify before Congress, earnings bonanza: What to know in the week ahead
Stocks closed out Friday’s session mixed, with the S&P 500 and Nasdaq posting modest gains while the Dow fell. The S&P 500 health-care sector ETF (XLV) rose to a record high.
A deluge of earnings and data painted a mixed picture of the fledgling U.S. recovery, as new COVID-19 cases threaten the economy.
New jobless claims declined by a smaller than expected margin in the Labor Department’s new report Thursday, as a surge in US virus cases threatens the pace of the labor market’s recovery.
Stocks rose Wednesday after a strong set of earnings results before market open added to earlier hopes for a coronavirus vaccine. The Nasdaq traded choppily, however, as the big-tech FAANG stocks wavered.
Stocks were higher Tuesday as investors digested an early batch of corporate earnings results. JPMorgan Chase kicked off earnings season on a high note, though Wells Fargo and Delta reported quarterly results that missed consensus expectations.