U.S. stocks fluctuated after Apple Inc. gave up an earlier advance and weak earnings dented Ford Co. and EBay Inc.
The S&P 500 was little changed in afternoon trading after pulling off an all-time high. The Nasdaq 100 turned negative after it also touched a record. The volatility came as investors continued to digest major corporate results that overshadowed data showing the American economy accelerated last quarter. U.S. gross domestic product expanded at a 6.4 per cent annualized rate in the first quarter, according to the Commerce Department.
Apple erased a gain of as much as 2.6 per cent, weighing heavily on the main U.S. indexes. Ford plunged the most since March 2020 after reducing its full-year forecast because of a computer-chip shortage. EBay tumbled the most since 2016 after issuing a sales outlook that suggested spending on the site could recede as more people get vaccinated. Facebook Inc. held gains, surging to a record after after it posted sales that dwarfed estimates
“We’re vaccinating the nation,” he said. “We’re creating hundreds of thousands of jobs. We’re delivering real results people can see and feel in their own lives.”
He sought to build popular support for police reform, gun control and immigration proposals that have languished on Capitol Hill. He told lawmakers to pass his immigration overhaul in answer to a surge of migrants at the southern border his critics have called a crisis.
“If you actually want to solve the problem – I have sent you a bill, now pass it,” he said.
And he depicted the revitalized U.S. fight against climate change as a jobs plan, saying scores of Americans could go to work “building more efficient buildings and homes,” installing charging stations for electric cars, planting cover crops in fields to absorb carbon dioxide and manufacturing blades for wind turbines.
Biden offers a unity vision with rich paying ‘fair share’
The president promised tax increases on the wealthy to pay for ambitious plans to spend trillions on infrastructure, education and other Democratic priorities.
April 29, 2021 3 MINS
President Joe Biden declared that the U.S. has turned the corner on a pandemic that’s killed more than half a million Americans and crippled the economy, and he promised tax increases on the wealthy to pay for ambitious plans to spend trillions on infrastructure, education and other Democratic priorities.
“America is on the move again,” Biden said in his first address to a joint session of Congress on Wednesday. “Turning peril into possibility. Crisis into opportunity. Setback into strength.”
U.S. stocks rose in choppy trading as investors digested the latest batch of corporate earnings and data that showed the American economy gained steam in the first three months of the year.
Apple Inc. pared a a gain of as much as 2.6 per cent amid concern that the iPhone maker may not sustain growth after a blockbuster quarter as it faces a tightening supply of chips. Weak earnings dented Ford Co. and EBay Inc. Facebook held its post-earning gains, surging to a record after after its sales dwarfed estimates.
The S&P 500 was at a record high after briefly turning negative in afternoon trading. The tech-heavy Nasdaq 100 was set to break two-day losing streak after fluctuating between a gain of more than 1 per cent and a 0.5 per cent decline. The volatility came as investors continued to assess major corporate results that overshadowed signs of a resurgence in the economy. Data released Thursday showed U.S. gross domestic product expanded at a 6.4 per cent annualized rate in the first
Apr 30 2021, 4:23 AM
April 29 2021, 3:07 AM
April 30 2021, 4:23 AM
(Bloomberg) U.S. stocks rose to a record as investors digested the latest batch of corporate earnings and data that showed the American economy gained steam in the first three months of the year.
(Bloomberg) U.S. stocks rose to a record as investors digested the latest batch of corporate earnings and data that showed the American economy gained steam in the first three months of the year.
Amazon.com climbed after hours on a better-than-estimated revenue forecast, while Twitter sank amid a lackluster outlook. In regular trading, Apple wiped out its gains on concern that the iPhone maker may not sustain growth after a blockbuster quarter as it faces a tightening supply of chips. Weak earnings dented Ford and EBay. Facebook held its post-earning gains, surging to a record after its sales dwarfed estimates.