US stocks rise to a record on expectations companies will make even fatter profits
- On Tuesday, the Dow Jones Industrial Average climbed 201 points, or 0.4%, while the Nasdaq composite added 0.5% to reach a new all-time high.
- Markets rallied as oil prices dropped 2% to $98.30 per barrel, easing inflation pressure, while the 10-year Treasury yield fell to 5.25% from 5.31% late Monday.
- Constellation Energy jumped 15% on Tuesday following a deal to supply Google with nuclear-scale electricity, while Lamb Weston shares rallied 11.1% after beating profit projections.
- Option Care Health shares soared 33.1% after private investment firm CD&R and healthcare company McKesson announced a roughly $5.8 billion acquisition deal.
- Analysts expect S&P 500 companies to deliver nearly 30% earnings growth, potentially marking a third straight quarter of growth exceeding 25%.
111 Articles
111 Articles
The key US equity indices closed up Tuesday's dealings, backed by declining revenues from US Treasury bonds and stable oil prices. The Standard and Poors 500 index climbed by 46.52 points, or 0.60%, to 7820.47 points, and the NASDAC index rose by 127.43 points, or 0.46%, to 27604.74 points.
Sydney Morning Herald
Shrugging off war, the bond rout and oil crunch: Why Wall Street keeps rallying
The US sharemarket goes up and up, but it’s not a broad-based bull run. In fact, it comes down to two tech stars that are stemming the tide for investors.
Nvidia (NASDAQ: NVDA), Apple (NASDAQ: AAPL) And Microsoft (NASDAQ: MSFT) Now Represent Over 21% Of The S&P 500
The S&P 500 has reached an unprecedented level of concentration, with just three technology giants now accounting for more than a fifth of the entire index. Data from Creative Planning shows that Nvidia (NASDAQ: NVDA), Apple (NASDAQ: AAPL), and Microsoft (NASDAQ: MSFT) collectively represent over 21% of the S&P 500 (INDEXSP: .INX), a record high […]
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