Wall Street stocks end volatile week at record high

Equities updates

US stocks ended Friday at a new high, reversing steep losses at the start of the week, as fears about the Delta variant of coronavirus were soothed by strong corporate earnings and continued central bank support for financial markets.

The S&P 500 climbed 1 per cent, lifting the index’s weekly gain to 2 per cent and its advance for the year above 17 per cent. The technology-focused Nasdaq Composite rose just over 1 per cent, giving the index its strongest weekly advance since

Read More

Wall Street rallies to record-breaking end of turbulent week

NEW YORK (AP) — Stocks rallied to records on Wall Street Friday, and the Dow Jones Industrial Average closed above the 35,000 level for the first time, as the market continued to roar back from its short-lived swoon at the start of the week.

The S&P 500 index climbed 44.31, or 1 percent, to 4,411.79 to top its prior all-time high, set early last week. The Dow rose 238.20, or 0.7 percent, to 35,061.55, and the Nasdaq composite gained 152.39, or 1 percent, to 14,836.99.

All three indexes finished with gains of better than 1 percent for the week, completely

Read More

Japan stocks track Wall Street’s solid finish to close week higher

Japan’s benchmark Nikkei average closed up 0.66 percent at 29,066.18 on Friday, while the broader Topix gained 0.80 percent at 1,962.65.

FILE PHOTO: First trading day of stock market in Tokyo

TOKYO: Japanese shares closed higher on Friday, as cyclicals and technology stocks tracked a strong finish on Wall Street, although the gains were capped by concerns over the country’s economic recovery and amid a cautious outlook of U.S. equities.

The Nikkei share average rose 0.66per cent to close at 29,066.18, while the broader Topix advanced 0.80per cent

Read More

Wall Street notches best week since February after Biden infrastructure deal

US stocks moved further into record territory on Friday to secure their strongest weekly performance since February, as enthusiasm for President Joe Biden’s infrastructure spending deal outweighed concern over the highest US inflation reading in 29 years.

The S&P 500 rose 0.3 per cent on the session, ending the week up 2.7 per cent.* The tech-focused Nasdaq Composite closed fractionally down from its record close on Thursday.

US stock markets hit highs after Biden this week secured an infrastructure spending deal worth about $1tn, boosting industrial, energy and financial stocks.

“If enacted, [the infrastructure plan] would increase GDP by roughly

Read More

Nigerian Stock Market Resumes Week With N54bn Loss

The Nigerian equities market began trading for the week yesterday still on negative mood with 0.27 per cent loss due to renewed profit taking.

Specifically, the All-Share Index which opened for the week at 38,648.91 shed 103.61 points or 0.27 per cent to close at 38,545.30.

Accordingly, month-to-date gain moderated to 0.3 per cent, while year-to-date loss increased to 4.3 per cent.

In the same vein, the market capitalisation lost N54 billion or 0.27 per cent to close at N20.089 trillion from N20.143 trillion achieved on Friday.

The market loss was driven by price depreciation in large and medium capitalised

Read More

Wall Street rises ahead of key economic data this week; AMC soars

The latest leg of a surge in so-called “meme stocks” stood out on Wall Street on Wednesday, with the main stock indexes rising slightly ahead of closely watched economic data this week.

The technology sector rose 0.8%, providing the biggest boost to the benchmark S&P 500, while communication services and materials eased.

A weekly unemployment report and May private payrolls data on Thursday will be followed by monthly jobs numbers on Friday.

Investors are closely tracking the labor market’s recovery after an unexpected slowdown in jobs growth in April fanned inflation worries.

The benchmark S&P 500 has recovered most of

Read More

A big jobs report looms in the week ahead, as markets enter the often-weak month of June

A trader works on the floor of the New York Stock Exchange.


May’s employment report is the big event in the week ahead, as stocks enter the often weak month of June. Stocks are finishing May with a mixed performance. Big cap indexes like the S&P 500 and Dow notched gains. The S&P rose a half percent, and the Dow rose 1.9%. The small cap Russell 2000 was flat, up 0.1%, and the tech-heavy Nasdaq declined 1.5%.

June is not historically a strong month for stocks. Bespoke Investment Group points out that over the past 50 years, the Dow

Read More

Dow dips 50 points to start the week as tech weakness continues

Persistent weakness in technology stocks led the major indexes lower on Monday after last week’s hotter-than-expected inflation readings sparked a downturn in equity markets.

The Dow Jones Industrial Average dipped 54.34 points, or 0.2%, to 34,327.79. The S&P 500 lost 0.3% to 4,163.29 as the tech sector pulled back 0.7%. The Nasdaq Composite fell 0.4% to 13,379.05.

Big Tech came under pressure to start the week, with Apple and Netflix each down 0.9%. Microsoft shed 1.2%, while Tesla dropped more than 2% as famed investor Michael Burry revealed a big short position on the electric carmaker. Traders have punished the

Read More