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Second-quarter earnings for S&P 500 companies are estimated to have fallen 6.4% year-over-year, Refinitiv data through Friday showed. The tech-heavy Nasdaq led Wall Street higher last week as megacap growth companies such as Alphabet (GOOGL.O), Meta Platforms (META.O) as well as chipmakers Intel (INTC.O) and Lam Research (LRCX.O) posted strong quarterly earnings. Citigroup raised its 2023-end and mid-2024 S&P 500 targets to 4,600 and 5,000, respectively, to reflect a higher possibility of a soft landing. Eight of the top 11 S&P 500 sectors posted gains, led by a 2% rise in energy stocks (.SPNY). The S&P 500 posted 27 new 52-week highs and one new low; the Nasdaq Composite recorded 95 new highs and 57 new lows.

Persons: Ross Mayfield, Austan Goolsbee, Jay Hatfield, Johnson, Morgan Stanley, decliners, Echo Wang, Johann M Cherian, Vinay Dwivedi, Richard Chang Organizations: Citigroup, Dow, Nasdaq, Amazon.com, Apple, Baird, Intel, Lam Research, Chicago Fed, Dow Jones, Infrastructure Capital Advisors, Financial, SoFi Technologies, ON Semiconductor, Johnson, Adobe, NYSE, Thomson, & & ' Locations: Louisville , Kentucky, New York, U.S, Bengaluru

For the week, the Nasdaq climbed 2.02%, while the S&P rose 1.01%, and the Dow gained 0.66%. The gains gave the S&P 500 its highest close since April 4, 2022. Barclays said investors flocked to equities this week, with inflows of $10 billion to U.S.-listed stocks, according to a note to clients. Advancing issues outnumbered declining ones on the NYSE by a 2.64-to-1 ratio; on Nasdaq, a 2.81-to-1 ratio favored advancers. The S&P 500 posted 27 new 52-week highs and two new lows; the Nasdaq Composite recorded 83 new highs and 84 new lows.

Persons: Scott Ladner, Win Murray, Diamond Hill, Jerome Powell, Brendan McDermid, Peers, Dow, Jim Farley, Carolina Mandl, Kamdar, Johann M, Maju Samuel, Deepa Babington Organizations: Dow, Nasdaq, Big Tech, Federal Reserve, Horizon Investments, Dow Jones, Barclays, New York Stock Exchange, REUTERS, Peers Nvidia, Marvell Technology, Treasury, Bank of Japan, Procter & Gamble, Ford, Enphase Energy, Juniper Networks, Exxon Mobil, Chevron, Reata Pharmaceuticals, NYSE, Thomson Locations: China, U.S, New York City, New York, Bengaluru

U.S. annual inflation slowed considerably in June, likely pushing the Federal Reserve closer to ending its fastest interest rate hiking cycle since the 1980s. Most of the 11 major S&P 500 sectors posted gains, led by communications services (.SPLRCL), which gained 2.01% as big tech companies kept an upward trend after announcing earnings earlier this week. More than half of the firms listed on the S&P 500 have reported second quarter earnings as of Friday, out of which 78.7% have surpassed analyst expectations, according to Refinitiv data. Advancing issues outnumbered declining ones on the NYSE by a 2.31-to-1 ratio; on Nasdaq, a 2.62-to-1 ratio favored advancers. The S&P 500 posted 26 new 52-week highs and two new lows; the Nasdaq Composite recorded 73 new highs and 69 new lows.

Persons: Win Murray, Diamond Hill, Peers, Dow, Jim Farley, Bansari Mayur Kamdar, Johann M, Maju Samuel, Deepa Babington Organizations: Dow, Nasdaq, Federal Reserve, Peers Nvidia, Marvell Technology, Treasury, Bank of Japan, Big Tech, Dow Jones, Procter & Gamble, Ford, Enphase Energy, Juniper Networks, Exxon Mobil, Chevron, Reata Pharmaceuticals, NYSE, Thomson Locations: China, Bengaluru

[1/2] A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 24, 2023. The Fed lifted its benchmark overnight interest rate by a widely expected 25 basis points, marking the 11th hike in the U.S. central bank's past 12 policy meetings. As of Wednesday, 77.6% of the 152 companies listed on the S&P 500 (.SPX) that have reported earnings have beaten analysts' expectations as compiled by Refinitiv. Advancing issues outnumbered decliners on the NYSE by a 1.75-to-1 ratio; on Nasdaq, a 1.64-to-1 ratio favored advancers. The S&P 500 posted 29 new 52-week highs and no new lows; the Nasdaq Composite recorded 72 new highs and 92 new lows.

Persons: Brendan McDermid, Dow, Jerome Powell, Goldman Sachs, Angelo Kourfafas, Edward Jones, Brent Schutte, David Bahnsen, Jim Vena, Lance Fritz, Wells Fargo, decliners, Bansari Mayur Kamdar, Johann M, Savio D'Souza, Anil D'Silva, Maju Samuel, Richard Chang Organizations: New York Stock Exchange, REUTERS, Microsoft, Boeing, Dow, Nasdaq, Federal, Fed, Northwestern Mutual Wealth Management, Google, NYSE, Bahnsen, Meta, Facebook, Refinitiv, Reuters Graphics Reuters, Dow Jones, Union Pacific, Thomson Locations: New York City, U.S, Bengaluru

UnitedHealth Group (UNH.N) jumped 7.2% after the health insurer's quarterly profit beat analysts' average estimate, as the industry bellwether's expenses came in lower than feared. Wells Fargo (WFC.N) gained 0.8% after reporting a 57% rise in quarterly profit. Citigroup (C.N) fell 2.9% after the lender's quarterly profit tumbled 36% as weakness in its trading business blunted gains in its personal banking and wealth management unit. The S&P 500 banks index (.SPXBK) shed 0.8%, erasing early gains. Of the 30 companies in the S&P 500 index that have reported earnings to date, 80% beat analysts' expectations, as per Refinitiv Data.

Persons: Wells, JPMorgan Chase, First Republic Bank . Wells Fargo, Banks, They've, Robert Pavlik, bullish, Morgan, Johann M Cherian, Saumyadeb Chakrabarty, Sriraj, Maju Samuel, Vinay Dwivedi Organizations: JPMorgan, Dow, Nasdaq, Wall Street, UnitedHealth, JPMorgan Chase, Rivals, First Republic Bank . Wells, Dakota Wealth, Citigroup, BlackRock, Dow Jones, Microsoft, UBS, Nvidia, NYSE, Thomson Locations: Wells Fargo, U.S, Bengaluru

☆ Wall St ends up, extends recent gains on cooling US inflation
▼ + stars: | 2023-07-13 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

Wednesday's CPI report showed U.S. consumer prices registered their smallest annual increase in more than two years. The reports have helped to support the view the Federal Reserve will stop hiking rates after an expected 25 basis points rate increase later this month. Technology-related shares provided the most support to the S&P 500, and an index of tech-focused shares including megacaps (.NYFANG) gained 2.7% and registered a record high close. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 7, 2023. The S&P 500 posted 51 new 52-week highs and one new low; the Nasdaq Composite recorded 135 new highs and 39 new lows.

Persons: Mona Mahajan, Edward Jones, Brendan McDermid, JPMorgan Chase, Alan Lancz, Alan B, Bard, Caroline Valetkevitch, Johann M Cherian, Sinead Carew, Shashwat Chauhan, Saumyadeb Chakrabarty, Maju Samuel, Deepa Babington Organizations: Dow, Nasdaq, Federal Reserve, PPI, . Technology, Dow Jones, Nvidia, New York Stock Exchange, REUTERS, JPMorgan, Lancz, Associates Inc, Air Lines, PepsiCo, Google, Inc, U.S, NYSE, Thomson Locations: U.S, Philadelphia, New York City, Toledo , Ohio, Europe, Brazil, Bengaluru, New York

☆ Nasdaq leads Wall St to higher close as CPI report lifts sentiment
▼ + stars: | 2023-07-12 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

Shares of big tech-related companies, which tend to be sensitive to higher interest rates, gave the S&P 500 its biggest boost. The Labor Department report also showed the smallest monthly gain in underlying consumer prices since August 2021. The S&P 500 banks index (.SPXBK) was up 0.6%. Advancing issues outnumbered declining ones on the NYSE by a 3.23-to-1 ratio; on Nasdaq, a 1.93-to-1 ratio favored advancers. The S&P 500 posted 66 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 129 new highs and 42 new lows.

Persons: Michael James, Quincy Krosby, Marvel, Janet Yellen's, Caroline Valetkevitch, Johann M Cherian, Shashwat Chauhan, Shinjini Ganguli, Nick Zieminski, David Gregorio Our Organizations: Nvidia, Broadcom, Dow, Nasdaq, Reserve, CPI, Wedbush Securities, Dow Jones, Labor Department, JPMorgan Chase, chipmaker Broadcom, VMware, Marvell Technology, Treasury, NYSE, Thomson Locations: Los Angeles, North Carolina, U.S, York, China, Beijing, Bengaluru

☆ CNBC Daily Open: Red hot tech
▼ + stars: | 2023-07-12 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange during morning trading on July 06, 2023 in New York City. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Energy stocks led Wall Street gainsU.S. stocks rose for a second session Tuesday, with energy stocks the leading advancers in the S&P 500 as WTI crude rose to its highest level since May 1. [PRO] Goldman's bullish on XpengGoldman Sachs initiated coverage of Xpeng with a buy rating, seeing nearly 30% upside for the Chinese electric-vehicle maker.

Persons: Warren, Temasek's, Lina Khan's, Recep Tayyip Erdoğan, Xpeng Goldman Sachs Organizations: New York Stock Exchange, CNBC, Energy, Wall Street, Traders, Dow Jones Industrial, Buffett, Temasek, Federal Trade, Microsoft, Activision Blizzard, NATO, EU Locations: New York City, Berkshire, U.S, Temasek, India, Southeast Asia, EU, Turkey, Sweden

☆ Wall St ends up; investors digest Fed official comments
▼ + stars: | 2023-07-10 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

The S&P 500 added to slight gains before the close, with caution prevailing for much of the session ahead of Wednesday's consumer prices report and the start of second-quarter earnings later this week. That could shed light on the interest rate outlook, with many traders expecting the Fed to raise interest rates by 25 basis points this month. S&P 500 company earnings are due to unofficially kick off this week with reports from some big U.S. banks. A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 7, 2023. The S&P 500 posted 28 new 52-week highs and four new lows; the Nasdaq Composite recorded 59 new highs and 47 new lows.

Persons: Carl Icahn, Quincy Krosby, Brendan McDermid, decliners, Johann M Cherian, Saumyadeb Chakrabarty, Shinjini Ganguli, Richard Chang Organizations: Dow, Nasdaq, Federal Reserve, Fed, Financial, New York Stock Exchange, REUTERS, Intel, Dow Jones, Icahn Enterprises, Citigroup, NYSE, Thomson Locations: U.S, Charlotte , North Carolina, Refinitiv, New York City, Bengaluru

☆ Wall St ends higher; consumer prices, earnings eyed this week
▼ + stars: | 2023-07-10 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

That could shed light on the interest rate outlook, with many traders expecting the Federal Reserve to raise interest rates by 25 basis points this month. S&P 500 company earnings are due to unofficially kick off this week with reports from some big U.S. banks. Analysts expect earnings to have fallen 6.4% in the second quarter from the year-ago period, IBES data from Refinitiv showed. Advancing issues outnumbered decliners on the NYSE by a 2.23-to-1 ratio; on Nasdaq, a 2.06-to-1 ratio favored advancers. The S&P 500 posted 28 new 52-week highs and four new lows; the Nasdaq Composite recorded 59 new highs and 47 new lows.

Persons: Carl Icahn, Quincy Krosby, Janet Yellen, decliners, Johann M Cherian, Saumyadeb Chakrabarty, Shinjini Ganguli, Richard Chang Organizations: Dow, Nasdaq, Reserve, Financial, Intel, Qualcomm, U.S, Treasury, Dow Jones, Icahn Enterprises, Citigroup, NYSE, Thomson Locations: U.S, Charlotte , North Carolina, Refinitiv, Bengaluru

The benchmark S&P 500 (.SPX) was solidly higher for most of the afternoon, but stocks sold off toward the end of the session. "The jobs report today I think is consistent with what the Fed would like to see," said Josh Jamner, investment strategy analyst at ClearBridge Investments. Among S&P 500 sectors, defensive groups fell the most, with consumer staples (.SPLRCS) down 1.3%. For the week, the S&P 500 fell about 1.2%, the Dow slid roughly 2% and the Nasdaq dropped 0.9%. The S&P 500 posted 11 new 52-week highs and five new lows; the Nasdaq Composite recorded 45 new highs and 63 new lows.

Persons: Levi Strauss, Quincy Krosby, stoked, Josh Jamner, Brendan McDermid, Russell, Dow, Austan Goolsbee, Alibaba, decliners, Lewis Krauskopf, Sinead Carew, Bansari Mayur Kamdar, Johann M, Caroline Valetkevitch, Shinjini Ganguli, Richard Chang Organizations: Dow, Nasdaq, LPL, Reserve, ClearBridge Investments, Dow Jones, Energy, New York Stock Exchange, REUTERS, Chicago Fed, Rivian Automotive, Ant Group, NYSE, Thomson Locations: U.S, New York City, New York, Bengaluru

Private payrolls increased more than expected in June, the ADP National Employment report showed, indicating the labor market remained strong despite growing risks of a recession from higher interest rates. Another survey showed the number of Americans filing new claims for unemployment benefits increased moderately last week. "The Fed has been hopeful to see a modest deterioration in the labor market," said Randy Frederick, managing director of trading and derivatives for Charles Schwab. "But since the ADP number was almost twice of what was expected, it generally implies there's potential for more rate hikes going forward." Reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: payrolls, Randy Frederick, Charles Schwab, Lorie Logan, Janet Yellen, judge's, Bansari Mayur Kamdar, Johann M, Vinay Dwivedi Organizations: Exxon, Dow, ADP, Dallas, Twitter, Dow Jones, Nasdaq, Institute for Supply, Qualcomm, Intel, Treasury, Exxon Mobil, JetBlue Airways, American Airlines, Spirit Airlines, NYSE, Thomson Locations: ., Beijing, Washington, China, U.S, Bengaluru

Investors are focused on the Fed minutes, expected to be released around 2 p.m. Bets for a 25-basis-point rate hike in July stood at 83%, while traders have priced in a 32% chance the U.S. central bank would deliver another hike by October, according to Refinitiv data. "Stocks have accounted for another 25 basis point rate hike when the Fed meets later this month, but a lot of people are divided on whether or not there's going to be another rate hike (after July)." More economic data, including the non-farm payrolls report on Friday, is scheduled for release later this week. Declining issues outnumbered advancers by a 3.73-to-1 ratio on the NYSE and a 2.24-to-1 ratio on the Nasdaq.

Persons: Robert Pavlik, Goldman Sachs, Bansari Mayur Kamdar, Johann M, Shounak Dasgupta, Vinay Dwivedi Organizations: Netflix, Dow, Nasdaq, Sino, Dakota Wealth, Fed, Traders, U.S, Nvidia, Micron Technology, Semiconductor, SOX, Renesas Electronics Corp, Tesla, Dow Jones, United Parcel Service, Teamsters Union, Moderna, NYSE, Thomson Locations: China, U.S, Beijing, Washington, Philadelphia, Bengaluru

Stronger than expected economic data pushed Treasury yields higher and steered investors toward economically sensitive sectors as recession fears eased. But buyers shied away from some rate-sensitive growth sectors due to concerns the Fed would keep interest rates higher for longer. After a health check showed that the biggest U.S. banks have enough capital to weather a severe economic slump the S&P 500 banks index (.SPXBK) closed up 2.6%. The Dow Jones Industrial Average (.DJI) rose 269.76 points, or 0.8%, to 34,122.42, the S&P 500 (.SPX) gained 19.58 points, or 0.45%, to 4,396.44 and the Nasdaq Composite (.IXIC) dropped 0.42 points to 13,591.33. The S&P 500 posted 44 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 90 new highs and 90 new lows.

Persons: Mona Mahajan, Louis, Edward Jones, Russell, Jerome Powell, Brendan McDermid, Air Jordan, Sinéad Carew, Sruthi Shankar, Johann M, Shinjini Ganguli, David Gregorio Our Organizations: Dow, Nasdaq, St, Dow Jones, New York Stock Exchange, REUTERS, Brendan McDermid Traders, Reuters, Nvidia, Microsoft, SOX, Micron Technology, Occidental Petroleum, Berkshire Hathaway Inc, Nike, Air, LeBron, NYSE, Thomson Locations: New York City, U.S, megacaps, Philadelphia, New York, Bengaluru

With inflation still high, Phil Blancato CEO Ladenburg Asset Management said Powell is "not wrong" to keep policy tight. Apple Inc (AAPL.O) hit an all-time high during the session and registered a record closing high for the second session in a row. [1/2]Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 27, 2023. The S&P banks index (.SPXBK) slipped 0.5% ahead of the Fed's annual stress test results after markets close on Wednesday. The S&P 500 posted 39 new 52-week highs and 6 new lows; the Nasdaq Composite recorded 70 new highs and 127 new lows.

Persons: Fed's Powell, Jerome Powell, Powell, Quincy Krosby, Phil Blancato, Brendan McDermid, decliners, LPL's Krosby, Oppenheimer, Mills, Sinéad Carew, Sruthi Shankar, Johann M, Vinay Dwivedi, David Gregorio Our Organizations: Dow, Nasdaq, Federal, European Central Bank, Global, LPL, Management, Independence, Traders, Dow Jones, Apple Inc, Microsoft, P's, Nvidia, Wall Street Journal, New York Stock Exchange, REUTERS, Investors, Netflix Inc, NYSE, Thomson Locations: Quincy, United States, China, New York City, U.S, New York, Bengaluru

Her comments followed a hawkish stance by Fed Chair Jerome Powell in his two-day testimony before the Senate Banking Committee earlier this week. Markets calmed briefly and the S&P 500 (.SPX) and the Nasdaq (.IXIC) added some gains in the previous session after Powell said the Fed will proceed with caution. We've heard from the various Fed governors, Powell talk about higher interest rates," said Paul Nolte, senior wealth advisor and market strategist at Murphy & Sylvest. Yields on the 2-year, which best reflects interest rate expectations, dropped to hover at 4.71% on Friday. Investors will also monitor comments from some Fed policymakers due to speak later in the day.

Persons: Mary Daly, Jerome Powell, Powell, We're, We've, Paul Nolte, advancers, Shubham Batra, Shristi, Arun Koyyur Organizations: Starbucks, Dow, Nasdaq, Federal Reserve, San Francisco Fed Bank, Reuters, Committee, Murphy, Apple, Microsoft, Dow Jones, 3M, Carmax Inc, Starbucks Corp, NYSE, Thomson Locations: San, U.S, Bengaluru

Financial markets, however, are still pricing in a 25-basis-point rate increase in July and no further hikes after that, according to CME FedWatch tool. After Powell reinforced the Fed's inflation objective, rate-sensitive megacap companies pushed Wall Street's major indexes lower for the third straight session on Wednesday. Yields on the 2-year and 10-year Treasury notes were little changed after the data and ahead of Powell's testimony before the U.S. Senate Banking Committee at 10 a.m. The S&P index recorded three new 52-week highs and three new lows, while the Nasdaq recorded 12 new highs and 33 new lows. Reporting by Shubham Batra, Shristi Achar A and Medha Singh in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Tesla, Morgan Stanley, Jerome Powell, Powell, Wall, Mark Luschini, Janney Montgomery Scott, advancers, Shubham Batra, Shristi, Medha Singh, Arun Koyyur Organizations: Dow, Nasdaq, Tesla, U.S . Senate, Dow Jones, Boeing, Accenture, Darden, Olive Garden, NYSE, Thomson Locations: Washington, Wichita , Kansas, Bengaluru

All S&P 500 sub-sectors fell, with the rate-sensitive real estate sector (.SPLRCR) leading the declines, with a 0.8% drop. In the previous session, Wall Street's main indexes fell as investors booked profits in the wake of a sustained market rally amid signs of weakening global demand. Still, the benchmark S&P 500 (.SPX) has advanced around 14% so far this year. If a U.S. recession becomes more likely, Goldman Sachs (GS.N) said investors should maintain upside exposure to equities by using options to hedge a potential 23% fall in the S&P 500 index (.SPX). It holds chances of a recession at 25%, and in that base case, it expects the S&P 500 to rise to 4,500 - about 2.5% higher than current levels.

Persons: Jerome Powell, Powell, Volcker, that's, Peter Cardillo, Goldman Sachs, Li Auto, advancers, Shubham Batra, Johann M Cherian, Ankika Biswas, Stephen Culp, Arun Koyyur Organizations: FedEx, China EV, Dow, Financial, U.S, Fed, Spartan Capital Securities, United Parcel Service, Dow Jones, Nasdaq, Nio Inc, Xpeng, Adobe, Capital Markets, NYSE, Thomson Locations: China, U.S, Bengaluru

Eight of the 11 S&P 500 sub-sectors were in the red, with the energy index (.SPNY) leading declines. U.S. markets ended lower on Friday as comments from Fed officials curtailed optimism that the central bank was nearing the end of its aggressive interest rate hikes. Traders now see a 72% chance of Fed hiking its key benchmark rates by 25 basis points in July, according to CMEGroup's Fedwatch Tool. Declining issues outnumbered advancers for a 2.43-to-1 ratio on the NYSE and a 1.82-to-1 ratio on the Nasdaq. The S&P index recorded 11 new 52-week highs and no new low, while the Nasdaq recorded 38 new highs and 40 new lows.

Persons: Eli Lilly, Tesla, Rivian, homebuilding, Sam Stovall, CMEGroup's, Michael Barr, Jerome Powell's, Morgan Stanley, Daniel Zhang, advancers, Shristi Achar, Shubham Batra, Johann M, Vinay Dwivedi, Shounak Organizations: Therapeutics, Nike, Dow, Nasdaq, U.S . Federal Reserve, CFRA Research, Tesla Inc, Reuters, EV, U.S . House Financial, PayPal Holdings, KKR & Co, Alibaba, PDD Holdings, Dow Jones, Adobe Inc, Dice Therapeutics, NYSE, Thomson Locations: U.S, Europe, China, Bengaluru

Traders have priced in a 73% chance of the U.S. central bank holding interest rates at the current 5%-5.25% range during its monetary policy meeting on June 13-14, according to CMEGroup's Fedwatch tool. "Today's data in terms of higher claims shows that the Fed policy is having a clear effect," said David Russell, vice president of Market Intelligence at TradeStation. The CBOE Volatility index (.VIX), also known as Wall Street's fear gauge, dropped to a fresh pre-pandemic low of 13.73. The U.S. Labor Department is due to release inflation data on June 13, the first day of the Fed meeting. The S&P index recorded six new 52-week highs and two new lows, while the Nasdaq recorded 38 new highs and 29 new lows.

Persons: David Russell, Wells, Ryan Cohen, Piper Sandler, Zhu Jiang, Sruthi Shankar, Shristi, Vinay Dwivedi Organizations: GameStop, Dow, Nasdaq, Treasury, Traders, Market Intelligence, Fed, Nvidia Corp, Apple Inc, Tesla Inc, GameStop Corp, U.S . Labor Department, Bank of Canada, BoC, Dow Jones, Adobe, Lucid, NYSE, Thomson Locations: Wells, U.S, Wells Fargo, China, Bengaluru

☆ The stock market is changing: It's not just about the top 7 companies anymore
▼ + stars: | 2023-06-08 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

For most of 2023, the stock market's gains had been all about seven companies. Market breadth, or the measure of advancers against losers, had been negative heading into June, as most of this year's rally was due to just seven companies. Prior to June, the index's positive performance was completely due to the performance of just seven companies: Apple, Microsoft, Nvidia, Meta, Amazon, Tesla and Alphabet, counting both the Google parent's Class A and C shares. Of that group, some 150 are higher by at least 10% and 70 have gained at least 20%. On the downside, 108 stocks are off at least 10% and 32 have fallen at least 20%.

Persons: Howard Silverblatt, Dow, Silverblatt, Warren Buffett's Berkshire Organizations: Dow Jones Indices, Apple, Microsoft, Nvidia, Meta, Google, Broadcom, Devices, Warren Buffett's Berkshire Hathaway Locations: Warren

SummarySummary Companies Palo Alto gains on S&P 500 index inclusionApple climbs ahead of developer conferenceIndexes: Dow down 0.25%, S&P up 0.22%, Nasdaq up 0.46%June 5 (Reuters) - The S&P 500 and the Nasdaq rose on Monday, as Apple scaled an all-time peak and investors weighed up chances of the Federal Reserve pausing interest rate hikes at its upcoming policy meeting. Other growth stocks also rose, with Alphabet Inc (GOOGL.O) gaining 1.8% and Amazon.com Inc (AMZN.O) adding 0.9%. Palo Alto Networks Inc (PANW.O) climbed 5.5% as the cybersecurity firm looks set to replace Dish Network (DISH.O) in the S&P 500 index. Declining issues outnumbered advancers for a 1.56-to-1 ratio on the NYSE and for a 1.35-to-1 ratio on the Nasdaq. The S&P index recorded 14 new 52-week highs and two new lows, while the Nasdaq recorded 70 new highs and 32 new lows.

Persons: Thomas Hayes, Sam Stovall, advancers, Sruthi Shankar, Shristi, Vinay Dwivedi, Anil D'Silva Organizations: Palo, Dow, Nasdaq, Apple, Apple Inc, Alphabet Inc, Amazon.com Inc, Great, Capital, Institute for Supply Management, CFRA Research, Dow Jones, Palo Alto Networks, Dish Network, Big, Wall Street Journal, Tesla Inc, NYSE, Thomson Locations: U.S, Washington, Big U.S, China, Bengaluru

"While it appears to be a hot number on the actual number of people employed, the wage rate is not increasing as fast," said Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh. The data brought relief to investors who mostly expect the Fed to pause hiking rates at its policy meeting on June 13-14. But some pointed to the much hotter-than-expected jobs data as a sign the Fed still has not yet tamed inflation. All 11 S&P 500 sectors advanced, with the materials index (.SPLRCM) leading, up 3.4%, and the consumer discretionary sector (.SPLRCD), housing Amazon, close behind, rising 2.2%. The S&P 500 posted 15 new 52-week highs and two new lows; the Nasdaq Composite recorded 74 new highs and 40 new lows.

Persons: Kim Forrest, Phil Orlando, Nobody’s, Michael Landsberg, Herbert Lash, Shreyashi Sanyal, Shristi, Shashwat Chauhan, Nivedita Bhattacharjee, Maju Samuel Organizations: Amazon, Nvidia, Reserve, Labor Department, Bokeh Capital Partners, Fed, Federal Reserve, Federated Hermes, Reuters Graphics Reuters, Dow Jones, Nasdaq, Dow, Verizon Communications Inc, T Inc, Mobile US Inc, Inc, U.S, Verizon, Mobile, Nvidia Corp, Landsberg Bennett, Wealth Management, NYSE, Thomson Locations: Washington, Pittsburgh, New York, Punta Gorda , Florida, Bengaluru

[1/2] Fearless Girl is seen outside the New York Stock Exchange (NYSE) in New York City, U.S., May 30, 2023. The S&P 500 was set to end the month flat, while the Dow shed 3.8%. The S&P 500 financial sector index (.SPSY) fell 1.7%, while banks (.SPXBK) dropped 2.7%. Advance Auto Parts Inc (AAP.N) plunged 33.9%, falling the most on the S&P 500, after the auto parts retailer cut its full-year forecasts. Declining issues outnumbered advancers for a 2.21-to-1 ratio on the NYSE and for a 2.02-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Joe Saluzzi, Phil Blancato, Nvidia Corp's, advancers, Shreyashi Sanyal, Shashwat Chauhan, Shounak Dasgupta, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, Senate, Themis, Labor, Survey, Traders, Asset Management, Dow Jones, Technology, Federal Deposit Insurance Corporation, Advance, Parts Inc, Genuine, O'Reily, Hewlett Packard Enterprise Co, Nvidia, NYSE, Thomson Locations: New York City, U.S, New York, Bengaluru

☆ Wall St slips on debt ceiling uncertainty
▼ + stars: | 2023-05-20 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

Stocks had rallied over the past two sessions on growing confidence a deal to raise the $31.4 trillion debt limit could be reached in coming days, with the benchmark S&P 500 (.SPX) climbing more than 2%. For the week, the Dow gained 0.38%, the S&P 500 climbed 1.65% and the Nasdaq advanced 3.04%. The S&P 500 and Nasdaq notched their biggest weekly percentage gains since the final week of March. [1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 14, 2023. The S&P 500 posted 28 new 52-week highs and three new lows; the Nasdaq Composite recorded 79 new highs and 87 new lows.

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