Wall Street gears up for busiest earnings week in years

Wall Street gears up for busiest earnings week in years

US stocks rallied on Thursday, with the Nasdaq closing at a record high, driven by a round of solid earnings.

Wall Street closed lower Friday as investors awaited this weekend's French presidential election and President Trump's "big announcement" on tax reform planned for Wednesday.

"Our first quarter performance marks a good start to the year with momentum in the consumer and commercial businesses in the U.S. and in key markets internationally", Kenneth Chenault, chief executive officer, said in a statement.

"Investors are definitely nervous about the upcoming French elections and the situation in North Korea and Syria".

The first round of France's presidential election might be too close to call when polls close today, because initial projections will not be available as early as in the past, pollsters and their watchdog said.

Bebe to Close All of Its Stores
In a regulatory filing , company officials said they would liquidate all merchandise and fixtures inside their stores. The women's fashion retailer Bebe is closing all of its stores nationwide, including two in Charlotte.

GE reported earnings before the open, while Verizon extended losses after Thursday's earnings report.

Overall, profits of S&P 500 companies are estimated to have risen 10.8 percent in the quarter, the best since 2011.

Oil prices were little changed in a seesaw trading session, as investors weighed rising US production against comments from leading Gulf oil producers that an extension to OPEC-led supply cuts was likely.

General Electric was little changed at $30.25 after the company reported a 1 percent decline in quarterly revenue.

The Nasdaq slid 6.26 (-0.11 percent) to close at 5,910.52, while the S&P 500 finished at 2,348.69, down 7.15 (-0.30 percent) from its open.

Spoils for a champion: Patriots open season hosting Chiefs
We know the 49ers will play a Thursday Night Football game, but we don't know yet about any other potential prime time games. There will be a Super Bowl rematch in week seven and the defending champions also get the season started.

Shares of Dow component Visa were up 2.6 percent at $93.50 in premarket trading after the payments network operator's quarterly results beat expectations. The stock was among the biggest boosts to the S&P and the Nasdaq.

Philip Morris fell 3.5 per cent to US$109.98 (RM483.98) as the biggest drag to the benchmark S&P index after the tobacco maker's first-quarter profit forecast fell below estimates.

For the week, the Dow rose 0.5 per cent, the S&P gained 0.8 per cent and the Nasdaq advanced 1.8 per cent in what was the first weekly gain for the top indexes over the last three weeks.

Advancing issues outnumbered declining ones on the NYSE by a 2.49-to-1 ratio; on Nasdaq, a 2.61-to-1 ratio favoured advancers.

Trump to sign 'Buy American, Hire American' executive order
Dubbed " Buy American and Hire American ", the directive follows a series of recent Trump reversals on economic policies. The Trump administration said that if the waivers are not benefiting the U.S. they will be "renegotiated or revoked".

Related Articles

  • Microsoft releases password killer: the Authenticator phone sign

    Microsoft releases password killer: the Authenticator phone sign

    Lists can also be assigned emoji to easily tell them apart, and of course will sync across whatever devices you're using To-Do on. So that means if you are subscribed to Office 365 those will be the only accounts that work on To-Do beginning with this preview.

    Premier League Clement eyes Terry move if Swansea survive

    Clement worked with Terry during his time as an assistant coach under then Chelsea manager Carlo Ancelotti in the 2009-10 season. But Clement accepts the only chance Swansea have of signing Terry is if they climb out of the relegation zone.
    Ontario, Canada brings in foreign housing tax to cool market

    Ontario, Canada brings in foreign housing tax to cool market

    The number of sales in Metro Vancouver plunged in the wake of the new tax, but the market appears to have bounced back since. Another housing measure would expand rent control, which now only applies only to units built before November 1991.
  • Laurel 'Planting a Future' for Arbor Day

    Laurel 'Planting a Future' for Arbor Day

    For more information, contact Victor Village Clerk Pam Hogenes at 585-924-3100 or Tree Board Chairman Gene Pratt at 585-330-7203. Giving out saplings is one of the ways that ISU promotes healthy trees and getting students involved with trees on campus.

    Bulls guard Rajon Rondo out indefinitely with broken thumb

    Grant is inconsistent, but if good Grant shows up, it's in Chicago's best interest to just play it straight. "We're playing tight. Without him, I'm down to about 50-50. "Whenever you get beat, you're antsy to get back out on the court and play", Stevens said.
    Apple might replace your damaged iPad 4 with an iPad Air 2

    Apple might replace your damaged iPad 4 with an iPad Air 2

    Rather, Apple has let the store manager and authorized service staff decide if a particular iPad 4 qualifies for the replacement. Moreover, the new device they will receive has newer components and it's more powerful than the previous version overall.
  • Last adventure ahead for NASA's Cassini spacecraft at Saturn

    Last adventure ahead for NASA's Cassini spacecraft at Saturn

    Cassini's particle detectors will sample icy ring particles being funneled into the atmosphere by Saturn's magnetic field. The spacecraft will pass through the 1,900 km gap in the rings on Wednesday at a speed of 1,13,000 km/h.
    HBO releases first images from Game of Thrones season 7

    HBO releases first images from Game of Thrones season 7

    There's Sansa, who's really come into her own as a Stark heir ever since she let the dogs out on her tormentor, Ramsay Bolton . As the theory notes, Jon isn't the only one who " Game of Thrones " fans believe is capable of killing Cersei in Season 7.
    Nintendo discontinues NES Mini

    Nintendo discontinues NES Mini

    It will be expected the same with the SNES Classic Edition, which would also be just a special edition for retro fanatics. It's believed that the launch of the SNES Classic Mini played a role in the discontinuation of the NES Classic Mini.
  • Addison Russell hits walk-off homer against the Brewers

    Addison Russell hits walk-off homer against the Brewers

    The runners advanced to second and third on a slow roller back to the mound by Rizzo, setting up Russell's heroics on a 2-0 pitch. RHP Kyle Hendricks (1-1, 5.73 ERA) picked up the win against the Brewers on April 8 and will go for his second against Milwaukee.

    American, Russian cheered as they reach International Space Station

    Yurchikhin and Fischer will spend the next four and a half months aboard the International Space Station. Yurchikhin and Fischer joined three other residents living on the International Space Station.
    Jeff Sessions Slammed After Calling Hawaii

    Jeff Sessions Slammed After Calling Hawaii "An Island in the Pacific"

    He said: " President Trump previously called a federal judge in California a so-called judge". Derrick Watson is actually a federal judge who happens to serve on a district court in Hawaii.