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US stocks trade higher than 130 companies in S&P 500 to report profit

US stock futures traded higher in the new week, as 130 companies in the S&P 500, or just over a quarter of the benchmark index, reported their results from January to March.

Stocks in this article

$ 33874.85

-185.51 (-0.54%)

$ 1


-119.86 (-0.85%)

Wall Street fell on Friday, with the S&P 500 down 0.7 percent, but closed for its best month so far this year.

Markets have mostly risen in recent weeks as investors remain optimistic that the pandemic is slowly and steadily ending, at least in the United States. The S&P 500 rose 5.2 percent in April, its best monthly gain since November 2020, when President Joe Biden was elected.


Futures in the US were higher, with the Dow for industrialists up 0.3% and the S&P 500 up 0.2%.

Yields on the 10-year treasury were stable at 1.62%.

Investors withdrew from technological, financial and communication stocks.

Under Biden, Dow achieved his best first 100 days under a new president since Franklin Delano Roosevelt took office in 1933, according to LPL Financial, with a 9.9% return as of April 29. The Dow brought a 6.1% return during former President Donald’s first 100 days in office as Trump.

US stock futures are trading higher in the new week, as 130 companies in the S&P 500, or just over a quarter of the benchmark index, reported their results from January to March.

The profits came as large-scale coronavirus vaccination programs helped people return to work and normal activities after more than a year of restrictions.

The proliferation of COVID-19 vaccinations, the overwhelming support of the US government and the Federal Reserve, and increasingly positive economic data have led to expectations of a strong economic rebound and strong corporate profit growth this year. This helped stocks rise and keep the indices close to record highs.

Trillions of dollars in government support are helping the US economy recover from the pandemic. The Commerce Department said U.S. household income rose 21 percent last month, largely as a result of $ 1,400 in payments to most Americans as part of President Biden’s economic package. Consumer spending rose at the fastest pace in nine months.

The Biden administration is also pushing for more infrastructure spending to help boost the economy, although this raises concerns about how it could affect taxes and inflation. To pay for his plans, Biden proposed doubling the tax rate that Americans, who make more than $ 1 million a year, pay on earnings from stocks and other investments. The president also wants to impose a minimum tax of 21% on foreign profits of corporations in an attempt to stop companies from hiding profits in countries with low tax rates.


Corporate profits helped make recent profits. More than half of the companies in the S&P 500 have reported their results, which show profit growth so far by 54% for the index, according to FactSet.

Investors will receive another large dose of profit reports to begin in May, including results from drugmakers Eli Lilly, Merck, as well as from Pepsi, Colgate-Palmolive, railroad CSX and drugstore giant CVS. Investors will also receive a report on jobs in April this week.

On Friday, the S&P 500 closed at 4,181.17. The index rose by less than 0.1% for the week. The Dow Jones industrial average fell 0.5% to 33,874.85 and the Nasdaq lost 0.9% to 13,962.68.

The Russell 2000 index for smaller companies performed worse than the wider market, falling 1.3% to 2,266.45.

Meanwhile, stocks were lower in Asia on Monday’s weak trading, with some markets, including Tokyo and Shanghai, closed for the holidays.


In much of Asia and many other countries, the workload is rising and vaccination levels remain low.

Hang Seng from Hong Kong lost 1.5% to 28,307.10, and Kospi in South Korea slipped 0.7% to 3,122.92. The Australian S & P / ASX 200 is 0.1% higher to 7031.00.

The Indian Sensex fell 0.8% to 48,403.31. The country registered 368,147 new coronavirus cases on Monday, including 3,417 deaths, as a catastrophic tide in the country.

Shares also fell in Singapore and Taiwan.

In other trading terms, crude oil in the United States fell 38 cents to $ 63.20 a barrel in e-commerce on the New York Mercantile Exchange. On Friday, it declined $ 1.43 to $ 63.58 a barrel. Raw Brent, the international standard, lost 40 cents to $ 66.36 a barrel.


The US dollar rose to 109.63 Japanese yen from 109.30 yen. The euro fell to $ 1.2017 from $ 1.2032.

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