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TEHRAN, April 13 - U.S. stocks climbed on Thursday as investors anticipated a strong earnings season and as U.S. President Donald Trump’s suggestion that a military strike on Syria may not be imminent ratcheted down geopolitical worries.
TEHRAN, Young Journalists Club (YJC) - U.S. stocks climbed on Thursday as investors anticipated a strong earnings season and as U.S. President Donald Trump’s suggestion that a military strike on Syria may not be imminent ratcheted down geopolitical worries.
The S&P 500 has now recouped nearly all its losses from earlier this year.
Trump said in a tweet on Thursday that a possible attack on Syria could occur “very soon or not so soon at all,” easing fears of confrontation with Russia.
That lifted U.S. Treasury yields US10YT=RR, leading to a 1.8 percent increase in financial stocks .SPSY, which had the biggest percentage advance among the S&P’s 11 major sectors.
The technology sector .SPLRCT rose 1.3 percent, adding the most gains to the S&P.
“We’re hearing less talk of firing missiles and less talk of trade war,” said Michael Antonelli, managing director of institutional sales trading at Robert W. Baird in Milwaukee. “Earnings are coming up and expectations are high.”
Strong quarterly results from BlackRock Inc (BLK.N) and Delta Air Lines Inc (DAL.N) added to the sanguine mood.
Delta topped profit estimates, sending its shares 2.9 percent higher and boosting other airline stocks.
BlackRock gained 1.5 percent after the asset manager’s quarterly profit rose more than expected.
The earnings season begins in earnest on Friday with reports from JPMorgan Chase & Co (JPM.N), Citigroup Inc (C.N) and Wells Fargo & Co (WFC.N).
Source: Reuters
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