Wall Street notches record closing high on earnings, economic strength

Record ID: 1628296

  • Title: Wall Street notches record closing high on earnings, economic strength
  • Date: 23rd July 2021
  • Summary: LAGUNA BEACH, CALIFORNIA, UNITED STATES (JULY 23, 2021) (REUTERS) (SOUNDBITE) (English) LOREEN GILBERT, CEO, WEALTHWISE FINANCIAL, SAYING: "And I think we have to look at what's happening in the markets, the markets trying to digest a lot of information. Of course what's driven us to new highs is a great earnings season, so we can't ignore the great earnings season that we've had in the markets and that we expect that to continue to drive the markets higher." WHITE FLASH (SOUNDBITE) (English) LOREEN GILBERT, CEO, WEALTHWISE FINANCIAL, SAYING: "So today's trading action, we're seeing continued great earnings with companies. We're seeing that there is in the technology space, continued rally. And so at the same time, like I've been saying, we do see opportunities in the value area of the market that I think people should take a good look at for a lot of reasons, with inflationary pressures that we continue to see that we do think are sustained. We do see that value can be a good opportunity as value with current dividends, has a good way to hedge with inflation."
  • Embargoed: 6th August 2021 21:23
  • 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, + LAGUNA BEACH, CALIFORNIA, UNITED STATES
  • City: NEW YORK, NEW YORK, + LAGUNA BEACH, CALIFORNIA, UNITED STATES
  • Country: USA
  • Topics: Economic Events,Equities Markets,United States
  • Reuters ID: LVA002EN2BV47
  • Aspect Ratio: 16:9
  • Story Text:Wall Street gained ground for the fourth straight session on Friday (July 23), extending a rally that pushed all three major U.S. stock indexes to record closing highs as upbeat earnings and signs of economic revival fueled investor risk appetite.
    The S&P 500, the Nasdaq and the Dow all notched weekly gains.
    Growth and value stocks seesawed for much of the week as market participants weighed spiking infections of the COVID-19 Delta variant against strong corporate results and signs of economic revival.
    Market participants now look toward next week with the Federal Reserve's two-day monetary policy meeting and a series of high-profile earnings.
    The Fed's statement will be parsed for clues regarding the timeframe for tightening its accommodative policies, although Chairman Jerome Powell has repeatedly said the economy still needs the central bank's full support.
    The Dow Jones Industrial Average rose 238.20 points, or 0.68%, to 35,061.55, the S&P 500 gained 44.31 points, or 1.01%, to 4,411.79 and the Nasdaq Composite added 152.39 points, or 1.04%, to 14,836.99.
    Second-quarter reporting season is firing all pistons, with 120 of the companies in the S&P 500 having reported. Of those, 88% have beaten consensus, according to Refinitiv.
    (Production: Aleksandra Michalska, Fred Katayama, Soren Larson)
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2021. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
Register