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US stocks close higher on upbeat corporate earnings

IANS  |  New York 

US stocks ended higher as the market cheered a batch of ebullient corporate news.

The rose 269.25 points, or 1.03 percent, to 26,412.30 on Friday. The S&P 500 was up 19.09 points, or 0.66 percent, to 2,907.41. The increased 36.80 points, or 0.46 percent, to 7,984.16, reported.

Shares of rose 4.69 percent, after the U.S. heavyweight reported stronger-than-expected earnings for the first quarter, driven by higher interest rates.

Shares of rose over 11.54 percent, after the U.S. launched a new streaming service called Disney+, which was priced at 6.99 U.S. dollars per month.

Shares of surged over 32.01 percent, after U.S. announced plans to acquire the Texas-based petroleum magnate in a cash and stock deal valued at 33 billion U.S. dollars.

The acquisition of Anadarko will significantly enhance Chevron's portfolio and further strengthen its leading positions in large, attractive shale, deepwater and natural gas resource basins, said a statement of

Ten of the 11 primary S&P 500 sectors traded higher around market close, with the financials sector up over 1.9 percent, leading the winners.

On the economic front, U.S. import prices rose 0.6 percent in March, and 1.7 percent in the first three months of 2019, the said Friday. Both the March and February advances were driven by higher fuel prices.

Prices for U.S. exports rose 0.7 percent for the second consecutive month in March. Both agricultural and non-agricultural prices contributed to the increase.

--IANS

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

First Published: Sat, April 13 2019. 05:26 IST
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