Finance
Stocks rise after strong earnings
Stocks rose Monday, with the S&P 500 approaching its January
all-time high, after a wave of strong earnings reports from
companies including Tyson
Foods. The dollar
edged higher, and Treasury yields fell.
Here’s the scoreboard:
Dow Jones industrial
average: 25,502.72 +40.14
(+0.16%)
S&P
500: 2,850.16 +9.81
(+0.35%)
Nasdaq
Composite : 7,857.03 45.02 (+0.58%)
- US sanctions against Iran
are snapping back into place. The economic
penalties — which were reimposed as part of President Donald
Trump’s decision in May to
withdraw the US from the Iran nuclear deal — affect a
range of economic sectors including cars and metals. A second
round of sanctions, which would cut Iranian oil exports to
zero, is set to take effect in November. - Turkey could
lose duty-free access to US markets. After a
tense week between the NATO allies, the Trump administration
said it was reviewing a program that reduced tariffs on $1.7
billion worth of Turkish imports to the US last year. The move
sent the lira, which
has already been in freefall, to a record low against the euro.
Facebook is reportedly going after its users’ financial
data.
The Wall Street Journal reported the social
media giant asked several major banks for customer financial
data, including card transactions and checking-account
balances, as part of a plan to offer its users new services.
Shares of the company
jumped 3.5% following the news.-
Earnings season rolls on. Boosted by a
booming economy and a rebound in insurance underwriting, Warren
Buffet’s Berkshire
Hathaway posted a 67% surge in quarterly
operating profit over the weekend. Shares of the company
rose more than 2% on Monday.
And a look at the upcoming economic calendar:
- Snap and Disney report earnings.
- The Reserve Bank of Australia announces rate decisions.
- The Mortgage Bankers Association reports US mortgage
delinquencies. - China releases trade balance numbers.
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