{"id":1563437,"date":"2022-07-20T18:20:27","date_gmt":"2022-07-20T22:20:27","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1563437"},"modified":"2022-07-20T18:20:42","modified_gmt":"2022-07-20T22:20:42","slug":"wall-street-closes-higher-boosted-by-tech-stocks-gains-on-upbeat-earnings","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wall-street-closes-higher-boosted-by-tech-stocks-gains-on-upbeat-earnings\/","title":{"rendered":"Wall Street closes higher boosted by tech stocks gains on upbeat earnings"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwall-street-closes-higher-boosted-by-tech-stocks-gains-on-upbeat-earnings%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1563437&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Echo Wang<\/p>\n<p>(Reuters) \u2013     U.S. stocks ended higher on Wednesday with the tech-heavy Nasdaq booking a 1.6 % gain on positive earnings signals with a wary eye on inflation and more interest rate hikes by the Fed.<\/p>\n<p>Netflix Inc\u2019s shares added 7.4% after the company predicted it would return to customer growth during the third quarter, while posting a smaller-than-expected 1 million drop in subscribers in the second quarter.<\/p>\n<p>Other high-growth stocks extended gains following the forecast from the streaming service provider. Shares of Apple Inc, Amazon.com Inc, Microsoft Corp and Meta Platforms Inc rose between 1% and 4.2%.<\/p>\n<p>Electric vehicle maker Tesla Inc rose 2% in extended trading after reporting a rise in quarterly profit after the bell.<\/p>\n<p>\u201cEquity prices are trending in a roller coaster fashion, currently being at the mercy of inflation, interest rates and earnings,\u201d said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. <\/p>\n<p>\u201cWe\u2019re going to need another series of reporting cycles to confirm whether or not inflation indeed is getting under control.\u201d<\/p>\n<p>Analysts expect aggregate year-on-year S&#038;P 500 profit to grow 5.9% in this reporting season, down from the 6.8% estimate at the start of the quarter, according to Refinitiv data.<\/p>\n<p>Runaway inflation initially led markets to price in a full 100-basis-point hike in interest rates at the Fed\u2019s upcoming meeting next week, until some policymakers signaled a 75-basis-point increase.<\/p>\n<p>The Dow Jones Industrial Average rose 47.79 points, or 0.15%, to 31,874.84, the S&#038;P 500 gained 23.21 points, or 0.59%, to 3,959.9 and the Nasdaq Composite added 184.50 points, or 1.58%, to 11,897.65.<\/p>\n<p>Seven of the 11 major sectors of the S&#038;P 500 gained ground, with consumer discretionary and information technology posting the biggest gains.<\/p>\n<p>Trading remained volatile in thin volumes, with the CBOE Volatility index closed at 23.79 points to its lowest in nearly three months.<\/p>\n<p>Volume on U.S. exchanges was 11.51 billion shares, compared with the 11.43 billion average for the full session over the last 20 trading days.    <\/p>\n<p>\u201cLow volumes accentuate market moves historically and even though we\u2019ve wiped off $10 or $15 trillion from global equities this year, there\u2019s still a lot of excess liquidity. So low volume on excess liquidity can still accentuate moves,\u201d John Lynch, chief investment officer for Comerica Wealth Management, said.<\/p>\n<p>Baker Hughes Co tumbled 8.3% as the largest S&#038;P percentage loser, as the oilfield services provider reported a bigger second-quarter loss, while its adjusted profit also missed estimates.<\/p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 1.94-to-1 ratio; on Nasdaq, a 2.28-to-1 ratio favored advancers.<\/p>\n<p>The S&#038;P 500 posted one new 52-week high and 29 new lows; the Nasdaq Composite recorded 29 new highs and 38 new lows.  <\/p>\n<p> (Reporting by Echo Wang in New York and Shreyashi Sanyal in Bengaluru; Additional reporting by Aniruddha Ghosh in Bengaluru; Editing by Sriraj Kalluvila, Shounak Dasgupta and Lisa Shumaker)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2728607\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/tagreuters.com2022binary_LYNXMPEI6J0KF-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI6J0KF-VIEWIMAGE\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2728610\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/tagreuters.com2022binary_LYNXMPEI6J0KC-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI6J0KC-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Echo Wang (Reuters) \u2013 U.S. stocks ended higher on Wednesday with the tech-heavy Nasdaq booking a 1.6 % gain on positive earnings signals with a wary eye on inflation<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1563437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1563437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1563437"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1563437\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1563437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1563437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1563437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}