Tech Shares Lead U.S. Stocks to All-Time Highs: Markets Wrap
Bloomberg 1/21/2021 Cecile Gutscher
(Bloomberg) U.S. stocks eked out a gain to close at a record with tech shares lifting the major indexes on anticipation that more fiscal spending will revive economic growth and bolster corporate earnings. The dollar weakened.
The S&P 500 Index rose a bit omre than one point, while the Nasdaq indexes rose at least 0.5%. Risk appetite has gotten a boost from President Joe Biden’s push for nearly $2 trillion in additional spending and plans to jumpstart a federal response to the pandemic. Benchmark Treasury yields remained higher after initial jobless claims posted a small decline.
Tech Stocks Rise With Small Caps; Treasuries Slip: Markets Wrap
Bloomberg 1/19/2021 Anchalee Worrachate and Cormac Mullen
(Bloomberg) U.S. stocks rose, led by gains in tech shares and small caps, with Wall Street parsing the latest earnings ahead of a flood of reports this week.
The S&P 500 Index rebounded from Friday’s selloff after a three-day weekend that brought little by means of fresh macro news. Ten-year Treasury yields climbed back toward 1.1% and the dollar weakened. Crude oil and emerging markets also advanced. Goldman Sachs Group Inc. turned lower even after reporting that profit more than doubled. Bank of America Corp. shares edged higher after its results. General Motors Co. rose to a record after Microsoft Corp. invested in its self-driving car startup. Netflix Inc. reports results after markets close.
Most Asian equities rose with U.S. stock futures Tuesday and bond yields ticked up as investors awaited comments from Treasury Secretary nominee Janet Yellen on stimulus and the dollar. The greenback retreated.