US stocks start day on positive note
Tiger Newspress2021-07-21
(July 21) Stocks opened higher on Wednesday, following a session in which investors momentarily cast aside their fears that a resurgence of COVID-19 cases might derail a red-hot economic recovery, as strong earnings provided a ballast to beaten-down markets.
A batch of encouraging second-quarter earnings on Wednesday from industry bellwethers Coca-Cola (KO), Johnson & Johnson (JNJ) and Verizon (VZ) gave investors reason to focus on the fundamentals. All three companiestopped market expectations, converging with sentiment that drove Tuesday's rally.
Coca-Cola rose 2% in morning trading, it posted better-than-expected earnings. net revenue of $10.1 billion(+41.3%Y/Y). EPS of $0.68 beat the analyst consensus of $0.55.
Blockchain stocks rally. On day after sliding below $30,000, a key support level which many said has to hold, it did just that with bitcoin storming higher and back over $31,000.
Energy stocks gain.
EV stocks bounced continue.
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