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2022-07-17

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US STOCKS-Wall St Ends Tumultuous Week with Strong Rally as Rate Hike Fears Wane

* Banks have biggest percent gain in 18 months* Citigroup jumps after results* S&P, Dow end five-day losing streaks* Retail sales beats estimates* Indexes up: Dow 2.15%, S&P 1.92%, Nasdaq 1.79%U.S. st

US STOCKS-Wall St Ends Tumultuous Week with Strong Rally as Rate Hike Fears Wane

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This reversed Thursday&#39;s sell-off driven by downbeat guidance from rivals JPMorgan Chase and Morgan Stanley .</p><p>The S&amp;P 500 and the Dow both snapped five-day losing streaks, and all three indexes ended below last Friday&#39;s close.</p><p>&#34;We&#39;re still below the downward sloping trend line,&#34; said  Sam Stovall, chief investment strategist of CFRA Research in New York. &#34;One day does not a new trend make.&#34;</p><p>Consumer prices in June showed the highest annual growth rate since 1981, raising chances that the Fed could raise its key fed funds target rate by 100 basis points, steeper than the 75 basis point hike previously expected.</p><p>&#34;(Investors) would be unnerved by a 100 basis point rate hike, as it would imply that the Fed does not know what it is doing and is being controlled by the data,&#34; Stovall added.</p><p>Those fears were calmed by remarks from Fed officials on Thursday and Friday, which indicated an interest rate increase of 75 basis points is likely in the cards.</p><p>Economic data released on Friday surprised to the upside, with stronger-than-expected retail sales, an uptick in consumer sentiment, lower inflation expectations and cooling import prices.</p><p>&#34;Economic indicators are not consistent right now,&#34; said Tim Ghriskey, senior portfolio strategist Ingalls &amp; Snyder in New York. &#34;They are positive and negative, which shows we&#39;re in a period of transition.</p><p>The Dow Jones Industrial Average    rose 658.09 points, or 2.15%, to 31,288.26, the S&amp;P 500    gained 72.78 points, or 1.92%, at 3,863.16 and the Nasdaq Composite    added 201.24 points, or 1.79%, at 11,452.42.</p><p>All 11 major sectors of the S&amp;P 500 ended the session higher, with financial stocks easily nabbing the largest percentage gain of 3.5%.</p><p>Second-quarter earnings season is well underway, with 35 of the companies in the S&amp;P 500 having reported. Of those, 80% have beaten Street expectations, according to Refinitiv.</p><p>Analysts now expect aggregate year-on-year S&amp;P 500 second-quarter profit growth of 5.6%, down from the 6.8% estimate at the beginning of the quarter.</p><p>Citigroup bucked the trend among big bank earnings reports as its quarterly profit beat expectations, sending the stock up 13.2%.</p><p>Wells Fargo &amp; Co    said its quarterly profit nearly halved due to increased loan loss provisions and a weak mortgage business. Still, its shares gained 6.2%.</p><p>The S&amp;P Banking index jumped 5.8%, its biggest <a href=\"https://laohu8.com/S/AONE.U\">one</a>-day percentage surge since January 2020.</p><p>Unitedhealth Group Inc    advanced 5.4% after the healthcare company raised its annual profit forecast for the second straight quarter.</p><p>BlackRock Inc  rose 2.0% even after the world&#39;s largest asset manager posted a steeper-than-expected profit drop.</p><p>Market participants are looking to next week&#39;s full ledger of scheduled earnings releases, from Goldman Sachs Group Inc, Bank of America Corp, International Business Corp, Netflix Inc   , Tesla Inc   , <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> Inc    and assorted heavy-hitting industrials.</p><p>Advancing issues outnumbered decliners on the NYSE by a 4.53-to-1 ratio; on Nasdaq, a 2.36-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted one new 52-week high and 31 new lows; the Nasdaq Composite recorded 37 new highs and 126 new lows.</p><p>Volume on U.S. exchanges was 10.26 billion shares, compared with the 12.31 billion average over the last 20 trading days.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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This reversed Thursday&#39;s sell-off driven by downbeat guidance from rivals JPMorgan Chase and Morgan Stanley .</p><p>The S&amp;P 500 and the Dow both snapped five-day losing streaks, and all three indexes ended below last Friday&#39;s close.</p><p>&#34;We&#39;re still below the downward sloping trend line,&#34; said  Sam Stovall, chief investment strategist of CFRA Research in New York. &#34;One day does not a new trend make.&#34;</p><p>Consumer prices in June showed the highest annual growth rate since 1981, raising chances that the Fed could raise its key fed funds target rate by 100 basis points, steeper than the 75 basis point hike previously expected.</p><p>&#34;(Investors) would be unnerved by a 100 basis point rate hike, as it would imply that the Fed does not know what it is doing and is being controlled by the data,&#34; Stovall added.</p><p>Those fears were calmed by remarks from Fed officials on Thursday and Friday, which indicated an interest rate increase of 75 basis points is likely in the cards.</p><p>Economic data released on Friday surprised to the upside, with stronger-than-expected retail sales, an uptick in consumer sentiment, lower inflation expectations and cooling import prices.</p><p>&#34;Economic indicators are not consistent right now,&#34; said Tim Ghriskey, senior portfolio strategist Ingalls &amp; Snyder in New York. &#34;They are positive and negative, which shows we&#39;re in a period of transition.</p><p>The Dow Jones Industrial Average    rose 658.09 points, or 2.15%, to 31,288.26, the S&amp;P 500    gained 72.78 points, or 1.92%, at 3,863.16 and the Nasdaq Composite    added 201.24 points, or 1.79%, at 11,452.42.</p><p>All 11 major sectors of the S&amp;P 500 ended the session higher, with financial stocks easily nabbing the largest percentage gain of 3.5%.</p><p>Second-quarter earnings season is well underway, with 35 of the companies in the S&amp;P 500 having reported. Of those, 80% have beaten Street expectations, according to Refinitiv.</p><p>Analysts now expect aggregate year-on-year S&amp;P 500 second-quarter profit growth of 5.6%, down from the 6.8% estimate at the beginning of the quarter.</p><p>Citigroup bucked the trend among big bank earnings reports as its quarterly profit beat expectations, sending the stock up 13.2%.</p><p>Wells Fargo &amp; Co    said its quarterly profit nearly halved due to increased loan loss provisions and a weak mortgage business. Still, its shares gained 6.2%.</p><p>The S&amp;P Banking index jumped 5.8%, its biggest <a href=\"https://laohu8.com/S/AONE.U\">one</a>-day percentage surge since January 2020.</p><p>Unitedhealth Group Inc    advanced 5.4% after the healthcare company raised its annual profit forecast for the second straight quarter.</p><p>BlackRock Inc  rose 2.0% even after the world&#39;s largest asset manager posted a steeper-than-expected profit drop.</p><p>Market participants are looking to next week&#39;s full ledger of scheduled earnings releases, from Goldman Sachs Group Inc, Bank of America Corp, International Business Corp, Netflix Inc   , Tesla Inc   , <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> Inc    and assorted heavy-hitting industrials.</p><p>Advancing issues outnumbered decliners on the NYSE by a 4.53-to-1 ratio; on Nasdaq, a 2.36-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted one new 52-week high and 31 new lows; the Nasdaq Composite recorded 37 new highs and 126 new lows.</p><p>Volume on U.S. exchanges was 10.26 billion shares, compared with the 12.31 billion average over the last 20 trading days.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"513500":"标普500ETF","BK4559":"巴菲特持仓",".IXIC":"NASDAQ Composite","BK4550":"红杉资本持仓","BK4154":"管理型保健护理","SDS":"两倍做空标普500ETF","OEF":"标普100指数ETF-iShares","QQQ":"纳指100ETF","NFLX":"奈飞","CGEM":"Cullinan Therapeutics","DOG":"道指反向ETF","BK4207":"综合性银行","BK4077":"互动媒体与服务","UNH":"联合健康","QID":"纳指两倍做空ETF","BK4581":"高盛持仓","BK4135":"资产管理与托管银行","BK4579":"人工智能","C":"花旗","SH":"标普500反向ETF","BK4516":"特朗普概念","UDOW":"道指三倍做多ETF-ProShares","UPRO":"三倍做多标普500ETF","LABP":"Landos Biopharma, Inc.","IVV":"标普500指数ETF","BK4532":"文艺复兴科技持仓","PSQ":"纳指反向ETF","SANA":"Sana Biotechnology, Inc.","OEX":"标普100","QLD":"纳指两倍做多ETF","DXD":"道指两倍做空ETF","SSO":"两倍做多标普500ETF","BLK":"贝莱德","BK4534":"瑞士信贷持仓","BK4139":"生物科技","BK4533":"AQR资本管理(全球第二大对冲基金)","SPXU":"三倍做空标普500ETF","BK4566":"资本集团","BK4007":"制药","BK4196":"保健护理服务","DDM":"道指两倍做多ETF","APR":"Apria, Inc.","SQQQ":"纳指三倍做空ETF","BK4535":"淡马锡持仓","BK4508":"社交媒体","BK4082":"医疗保健设备","SDOW":"道指三倍做空ETF-ProShares",".SPX":"S&P 500 Index","LHDX":"Lucira Health, Inc."},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2251650644","content_text":"* Banks have biggest percent gain in 18 months* Citigroup jumps after results* S&P, Dow end five-day losing streaks* Retail sales beats estimates* Indexes up: Dow 2.15%, S&P 1.92%, Nasdaq 1.79%U.S. stocks closed sharply higher on Friday, ending several days of sell-offs with a rebound fueled by upbeat earnings, strong economic data and easing fears of a larger-than-expected interest rate hike by the Federal Reserve.All three major U.S. stock indexes posted solid gains, with financials    leading the charge in the wake of Citigroup's    earnings beat. This reversed Thursday's sell-off driven by downbeat guidance from rivals JPMorgan Chase and Morgan Stanley .The S&P 500 and the Dow both snapped five-day losing streaks, and all three indexes ended below last Friday's close.\"We're still below the downward sloping trend line,\" said  Sam Stovall, chief investment strategist of CFRA Research in New York. \"One day does not a new trend make.\"Consumer prices in June showed the highest annual growth rate since 1981, raising chances that the Fed could raise its key fed funds target rate by 100 basis points, steeper than the 75 basis point hike previously expected.\"(Investors) would be unnerved by a 100 basis point rate hike, as it would imply that the Fed does not know what it is doing and is being controlled by the data,\" Stovall added.Those fears were calmed by remarks from Fed officials on Thursday and Friday, which indicated an interest rate increase of 75 basis points is likely in the cards.Economic data released on Friday surprised to the upside, with stronger-than-expected retail sales, an uptick in consumer sentiment, lower inflation expectations and cooling import prices.\"Economic indicators are not consistent right now,\" said Tim Ghriskey, senior portfolio strategist Ingalls & Snyder in New York. \"They are positive and negative, which shows we're in a period of transition.The Dow Jones Industrial Average    rose 658.09 points, or 2.15%, to 31,288.26, the S&P 500    gained 72.78 points, or 1.92%, at 3,863.16 and the Nasdaq Composite    added 201.24 points, or 1.79%, at 11,452.42.All 11 major sectors of the S&P 500 ended the session higher, with financial stocks easily nabbing the largest percentage gain of 3.5%.Second-quarter earnings season is well underway, with 35 of the companies in the S&P 500 having reported. Of those, 80% have beaten Street expectations, according to Refinitiv.Analysts now expect aggregate year-on-year S&P 500 second-quarter profit growth of 5.6%, down from the 6.8% estimate at the beginning of the quarter.Citigroup bucked the trend among big bank earnings reports as its quarterly profit beat expectations, sending the stock up 13.2%.Wells Fargo & Co    said its quarterly profit nearly halved due to increased loan loss provisions and a weak mortgage business. Still, its shares gained 6.2%.The S&P Banking index jumped 5.8%, its biggest one-day percentage surge since January 2020.Unitedhealth Group Inc    advanced 5.4% after the healthcare company raised its annual profit forecast for the second straight quarter.BlackRock Inc  rose 2.0% even after the world's largest asset manager posted a steeper-than-expected profit drop.Market participants are looking to next week's full ledger of scheduled earnings releases, from Goldman Sachs Group Inc, Bank of America Corp, International Business Corp, Netflix Inc   , Tesla Inc   , Twitter Inc    and assorted heavy-hitting industrials.Advancing issues outnumbered decliners on the NYSE by a 4.53-to-1 ratio; on Nasdaq, a 2.36-to-1 ratio favored advancers.The S&P 500 posted one new 52-week high and 31 new lows; the Nasdaq Composite recorded 37 new highs and 126 new lows.Volume on U.S. exchanges was 10.26 billion shares, compared with the 12.31 billion average over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":323,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":7,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}