Wall Street Gains on Earnings Optimism, Waning Syria Jitters


BlackRock gained 1.5 percent after the asset manager’s quarterly profit rose more than expected.

The earnings season begins in earnest on Friday with reports from JPMorgan Chase & Co, Citigroup Inc and Wells Fargo & Co.

Analysts expect quarterly profit for S&P 500 companies to rise 18.4 percent from a year ago, in what would be the biggest gain in seven years, according to Thomson Reuters I/B/E/S.

Jobless Claims

Weekly number of people who have filed for unemployment benefits for the first time.











“People are looking forward to earnings season,” said Tracie McMillion, head of global asset allocation strategy at Wells Fargo Investment Institute in Winston-Salem, North Carolina. “Market participants are not wanting to miss out if (earnings are) as good as the forecasts say they will be.”

The Dow Jones Industrial Average rose 293.6 points, or 1.21 percent, to 24,483.05, the S&P 500 gained 21.8 points, or 0.83 percent, to 2,663.99, and the Nasdaq Composite added 71.22 points, or 1.01 percent, to 7,140.25.

Investor sentiment was also boosted by the weekly U.S. initial jobless claims report, which pointed to sustained labor market strength.

Facebook Inc was a notable laggard among technology stocks, falling 1.5 percent following a 5.3 percent gain over the past two days when Chief Executive Mark Zuckerberg testified before Congress on the social network’s data security.

Bed Bath & Beyond Inc shares dived 20.0 percent after the company’s full-year profit forecast missed estimates.

Advancing issues outnumbered decliners on the NYSE for a 1.20-to-1 ratio and on the Nasdaq, for a 1.84-to-1 ratio.

Volume on U.S. exchanges was 6.12 billion shares, compared to the 7.27 billion average for the full session over the last 20 trading days.

(Additional reporting by Sruthi Shankar in Bengaluru and Chuck Mikolajczak in New York; Editing by Nick Zieminski and Leslie Adler)

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Wall Street Rises but Pares Gains Late After Report of FBI Raid


“Even if it ultimately ends up being nothing, the initial reaction is almost always negative in the market,” said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.

Investors are looking forward to the start of earnings season to provide a sustained lift to U.S. stocks, with big banks, such as JPMorgan Chase, Citigroup and Wells Fargo, set to report first-quarter results on Friday.

Analysts expect quarterly profits for S&P 500 companies to rise 18.5 percent from a year ago, which would be the biggest gain in seven years, according to Thomson Reuters I/B/E/S.

The Dow Jones Industrial Average rose 46.34 points, or 0.19 percent, to 23,979.10, the S&P 500 gained 8.69 points, or 0.33 percent, to 2,613.16 and the Nasdaq Composite added 35.23 points, or 0.51 percent, to 6,950.34. AveXis Inc rose 81.6 percent after Swiss drugmaker Novartis offered to buy the gene therapy company for $8.7 billion.

3-Month Treasury Bills

High rate at weekly auction.









Merck shares rose 5.2 percent after the drugmaker’s blockbuster cancer drug, Keytruda, met the main study goal of helping previously untreated lung cancer patients live longer.

Shares of Leucadia National Corp jumped 11.6 percent after the company said it would sell most of its non-financial assets to focus on investment banking and advisory services.

Declining issues outnumbered advancing ones on the NYSE by a 1.10-to-1 ratio; on Nasdaq, a 1.13-to-1 ratio favored advancers.

Volume on U.S. exchanges was 6.28 billion shares, compared to the 7.3 billion average for the full session over the last 20 trading days.

(Additional reporting by Chuck Mikolajczak in New York and Sweta Singh and Diptendu Lahiri in Bengaluru; editing by Nick Zieminski and G Crosse)

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Dow, S&P Climb for Third Day in a Row on Easing Trade Worries


Earnings forecasts have increased sharply since Congress approved sweeping changes to the U.S. tax law late last year, with first-quarter earnings growth expected to be the highest in seven years.

Balance of Trade

The deficit is the excess of imports over exports for goods and services. Amounts are rounded, in billions of dollars, seasonally adjusted.









The Dow Jones Industrial Average rose 240.92 points, or 0.99 percent, to 24,505.22, the S&P 500 gained 18.15 points, or 0.69 percent, to 2,662.84 and the Nasdaq Composite added 34.45 points, or 0.49 percent, to 7,076.55.

Advancing issues outnumbered declining ones on the New York Stock Exchange by a ratio of 2.76 to 1, while it was the first day of more new 52-week highs on NYSE than 52-week lows since March 13.

On Wednesday, the Dow dropped more than 500 points after China and the United States imposed tariffs on each other’s products, but closed up 230 points after President Donald Trump’s top economic adviser Larry Kudlow said the administration was involved in a “negotiation” with China rather than a trade war.

Facebook, Amazon, Alphabet and Netflix – collectively known as the “FANG” group – were up between 0.3 percent and about 3 percent.

Facebook Chief Executive Mark Zuckerberg said the company had not seen “any meaningful impact” on usage or ad sales since the data privacy scandal.

Amazon rose 2.9 percent after being repeatedly hammered this week by Trump’s attacks on the online retailer.

About 6.4 billion shares changed hands on U.S. exchanges. That compares with the 7.3 billion daily average for the past 20 trading days, according to Thomson Reuters data.

(Additional reporting by Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila and James Dalgleish)

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Wall Street Posts Biggest One-Day Gain in 2-1/2 Years as Trade-War Fears Ebb


NEW YORK — Wall Street’s three major indexes jumped to their greatest one-day gain in two-and-a-half years on Monday, led by the tech sector, as trade war fears eased on reports that the United States and China were willing to renegotiate tariffs and trade imbalances.

2-Year Treasury Notes

High yield in percent.









The Dow Jones Industrial Average rose 669.4 points, or 2.84 percent, to 24,202.6, the S&P 500 gained 70.29 points, or 2.72 percent, to 2,658.55 and the Nasdaq Composite added 227.88 points, or 3.26 percent, to 7,220.54.

(Reporting by Stephen Culp; Editing by James Dalgleish)

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