Provided by Dow Jones
By Joe Wallace and Michael Wursthorn U.S. stocks rose Thursday on upbeat corporate earnings and signs of continued improvement in the labor market. After fluctuating between gains and losses, the S&P 500 advanced in recent trading. Technology stocks, which had been beaten down this week, rebounded, helping to steer the broad benchmark higher. Consumer staple stocks acted as the market leader after investors pushed shares of Kellogg up following stronger-than-expected earnings. Also helping the stock market was news that jobless claims slipped below 500,000 last week for the first time during the Covid-19 pandemic, suggesting the economic recovery continues. The economy s rejuvenation since the onset of the Covid-19 pandemic has been a key driver behind the stock market s ascent in recent months, with most of the benefits going into companies that are more closely tied to the U.S. economy.
Provided by Dow Jones
By Joe Wallace U.S. stocks bounced around the flatline Thursday as investors sold shares of healthcare and energy companies. The S&P 500 fell 0.1% shortly after the opening bell, while the Nasdaq Composite slid 0.4%, putting the tech-heavy benchmark on pace for a fifth straight daily decline. The Dow Jones Industrial Average added around 73 points. Many healthcare stocks in the S&P 500 traded in the red after the U.S. said a day earlier it would support the temporary waiver of intellectual property provisions that would allow developing countries to produce Covid-19 vaccines created by pharmaceutical companies. Vaccine makers including Pfizer and Johnson & Johnson were among the market s losers on Thursday.
By Joe Wallace and Michael Wursthorn U.S. stocks rose Thursday on upbeat corporate earnings and signs of continued improvement in the labor market. After fluctuating between gains and losses, the S&P 500 advanced to finish the day up 0.8%. Technology stocks, which had been beaten down this week, rebounded, helping to steer the broad benchmark higher. Consumer staple stocks acted as the market leader after investors pushed shares of Kellogg up following stronger-than-expected earnings. Also helping the stock market was news that jobless claims slipped below 500,000 last week for the first time during the Covid-19 pandemic, suggesting the economic recovery continues. The economy s rejuvenation since the onset of the Covid-19 pandemic has been a key driver behind the stock market s ascent in recent months, with most of the benefits going into companies that are more closely tied to the U.S. economy.
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Lyft’s (NASDAQ: LYFT) earnings arguably provided it yesterday.
The ride-sharing company saw shares post big pre-market gains after reporting a narrower than expected loss, above consensus revenue and solid guidance for the rest of the year. Now
Uber (NYSE: UBER), which reports this afternoon, has a tough act to follow. Shares of LYFT spiked more than 5% in pre-market trading.
“More people started moving again” in Q1, LYFT’s chief financial officer said, which is the kind of thing you want to hear if you’re excited about getting back to normal. Average daily ride volume grew each month, Lyft said, with the steepest recovery in March. And for people who miss traveling by plane, the good news is that LYFT’s average daily airport rides were up more than 65% in April relative to January.
CCTV Script 04/05/21 CNBC 3 hrs ago This is the script of CNBC s news report for China s CCTV on May 4, 2021, Tuesday.
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Warren Buffett s comments at this year s Berkshire Hathaway s annual shareholders meeting have gathered a lot of attention, that include his criticisms of the major retail investor trading platform Robinhood. Warren Buffett believes millennial-favored Robinhood is contributing to the speculative, casino-like trading activity in the stock market and benefitting from it.
Warren Buffett I m concerned about how they handle the source of income. I think I read where 12 or 13% of their casino participants were dealing in puts and calls. I looked up on Apple, the number of seven-day calls and 14 day calls outstanding. I m sure a lot of that is coming through Robinhood and that s a bunch of people writing… They re gambling on the price of Apple over the next seven days or 14 days. There s nothing illegal about it. There s nothing immoral. Bu