- Title: Wall Street ends higher, powered by strong earnings, economic cheer
- Date: 21st July 2021
- Summary: COLORADO SPRINGS, COLORADO, UNITED STATES, UNITED STATES (JULY 21, 2021) (REUTERS) (SOUNDBITE) (English) SANDERS MORRIS HARRIS, CEO, GEORGE BALL, SAYING: "Clearly, Tuesday was a counterbalancing of a unnecessarily panic-stricken Monday. Today is, gee, earnings are really pretty good, companies are doing well, the economy is getting better, the future looks comparatively bright, and lumpy pick out pockets where the earnings, and the earnings forecasts, make me think there is further room on the upside." WHITE FLASH (SOUNDBITE) (English) SANDERS MORRIS HARRIS, CEO, GEORGE BALL, SAYING: "I think people will be looking at at earnings from the FAANGs and others. GDP is going to be so difficult to compare it to anything. It's going to be a question on the GDP side of what do you use as a baseline? Is it 2020? Is that 2019? Who the dickens knows? And that's going to be so confusing and controversial that I think it'll be largely overlooked. The economy is getting better. At what pace compared to what is going to be a logicians debate and therefore earnings in the here and now and earnings forecasts are going to be the big driver of stocks. That ought to be good next week."
- Embargoed: 4th August 2021 21:10
- Keywords: COVID-19 Delta variant Dow Jones Nasdaq S&P 500 Wall Street coronavirus equities index indices markets shares stocks trading vaccine
- Location: NEW YORK, NEW YORK, + COLORADO SPRINGS, COLORADO, UNITED STATES
- City: NEW YORK, NEW YORK, + COLORADO SPRINGS, COLORADO, UNITED STATES
- Country: USA
- Topics: Economic Events,Equities Markets,United States
- Reuters ID: LVA002EMSC9QF
- Aspect Ratio: 16:9
- Story Text: Wall Street clinched its second straight advance on Wednesday (July 21), as robust corporate earnings and renewed optimism about the U.S. economic recovery fueled investor risk appetite.
All three major U.S. stock indexes extended the previous session's gains, placing all three within 1% of their all-time closing highs.
Unofficially, the Dow Jones Industrial Average rose 285.75 points, or 0.83%, to 34,797.74, the S&P 500 .gained 35.59 points, or 0.82%, to 4,358.65 and the Nasdaq Composite added 133.08 points, or 0.92%, to 14,631.95.
(Production: Aleksandra Michalska, Fred Katayama)
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