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Wall Street rises, focus turns to earnings from geopolitics

Reuters  |  NEW YORK 

By Sinead Carew

(Reuters) - U.S. stocks closed higher on Monday, with the biggest boosts from technology and as investors were optimistic about earnings season and appeared less worried about U.S.-led missile attacks in

The weekend's air strikes marked the biggest intervention yet by Western countries against Syrian and his ally Russia, which is facing further economic sanctions over its role in the conflict.

Stocks had ended lower on Friday on worries about But investors seemed less anxious about he potential for retaliation from Russia, an Assad ally, since there was none at the weekend.

"Geopolitical conditions calmed," said Tim Ghriskey, at Inverness in "There's a lot of anticipation about very strong earnings growth in the quarter. That may be attracting traders and even longer-term investors back into the market."

shares gained around 7 percent after the market closed following its quarterly report. Its subscriber growth beat expectations. It had ended the regular session down 1.2 percent.

500 companies are expected to report an 18.6 percent jump in first-quarter profit, on average, the biggest rise in seven years, according to data.

The <.DJI> rose 212.9 points, or 0.87 percent, to 24,573.04, the 500 <.SPX> gained 21.54 points, or 0.81 percent, to 2,677.84 and the <.IXIC> added 49.64 points, or 0.7 percent, to 7,156.29.

The 500's was the biggest boost to the benchmark on a weighted basis, with a 0.7-percent increase, followed by the <.SPXHC> which rose 0.8 percent.

provided the second-biggest boost to the from a single stock a day ahead of its earnings report with a 2.7 percent gain. was the biggest positive contributor with a 1.2 percent gain, on a weighted basis.

rose 2.6 percent after it presented positive data on its cancer drug Keytruda, also boosting the

Shares of optical components makers, including those of and , took a beating after reported that the was banning American companies from selling components to Chinese <0000063.SZ><0763.HK>. Acacia slumped almost 36 percent, compared with a 15.2-percent drop for

jumped 6.2 percent after the trucking company's profit topped estimates.

rose 0.44 percent after a bigger-than-expected increase in quarterly profit.

Advancing issues outnumbered declining ones on the NYSE by a 2.70-to-1 ratio; on Nasdaq, a 1.82-to-1 ratio favored advancers.

The 500 posted 11 new 52-week highs and no new lows; the recorded 68 new highs and 36 new lows.

On U.S. exchanges about 5.74 billion shares changed hands, in the lowest volume session so far this year. Monday's trading compared with the 7.03 billion average for the last 20 sessions.

(Additional reporting by in Bengaluru; Editing by and James Dalgleish)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 17 2018. 07:03 IST
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