US Stocks Edge Higher In Early Trade

Paterniano Del Favero
Luglio 14, 2017

The testimony boosted the Dow Jones by 0.6% to 21,532.14 - a record.

XAutoplay: On | OffThe Nasdaq composite and S&P 500 added 0.2%, while the Dow Jones industrial average was off about 0.1%.

Wells Fargo & Co. rose 0.78%, Citigroup Inc. added 0.15% and Dow component JP Morgan Chase & Co. rose 0.64%.

CURRENCIES: The euro fell 0.1 percent to $1.14 while the dollar was down 0.1 percent at 113.09 yen.

The major indexes are all on pace to end the week with gains.

Shares of Nvidia Corp.(NVDA) rose 0.5% in premarket trade, after surging to a record close on Wednesday ( on the back of an upgrade at SunTrust. Energy companies rose as the price of crude oil increased. Health care companies were among the laggards. "It is a resilient market, impervious to whatever comes out of Washington".

Overall, investors were focused on the coming wave of corporate earnings.

Quarterly earnings kick off on Friday with three of the biggest US banks including JPMorgan Chase JPM.N , Wells Fargo WFC.N and Citigroup C.N reporting results.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.36 percent. Morgan Stanley picked up 56 cents, or 1.2 percent, to $45.52. Quarterly earnings kick off on Friday with three of the biggest United States banks including JP Morgan Chase, Wells Fargo and Citigroup reporting results. South Korea's Kospi advanced 0.17%, while Down Under, the S&P/ASX 200 rose 0.47%.

RETAIL RALLY: Several retail chains were notching gains.

The S&P 500 is up 209 points, or 9.3 percent.

The Dow Jones industrial average climbed 22 points, or 0.1 percent, to 21,552. Among early movers, Target Corp. jumped after raising sales and profit outlooks for the second quarter. EBay gained 81 cents, or 2.2 percent, to $36.84.

"That's been a bit of fresh air in a very, very challenged sector", Davidson said. Brent crude, used to price worldwide oils, fell 30 cents to $47.44 per barrel.

The Russell 2000 is up 68.53 points, or 5.1 percent.

Gold fell $1.80 to $1,217.30 an ounce. Cerner slid 19 cents to $55.52. Copper lost 2 cents to $2.66 a pound.

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