US stocks rise as investors weigh growth concerns against strong corporate earnings
Stockswere up Wednesday following a rebound rally in the previous session.
- Cola-Cola and Verizon aided a rise in the
Dow Jones Industrial Average.
- Bitcoin and oil prices advanced.
US stocks edged higher Wednesday, with blue-chip stocks advancing on the back of earnings reports that outstripped Wall Street's targets, while investors confronted questions about global economic recovery as COVID-19 infections rise.The
View all Offers
OnePlus Nord 2 5G (Blue Haze, 8GB RAM, 128GB Storage) I Extra upto Rs.1000 off on Exchange₹ 29999Buy On
OnePlus Nord 2 5G (Gray Sierra, 8GB RAM, 128GB Storage) I Extra upto Rs.1000 off on Exchange₹ 29999Buy On
- 18% OFF
Redmi 9 (Carbon Black, 4GB RAM, 64GB Storage) | Extra INR 200 Amazon Pay Cashback | 2.3GHz Mediatek Helio G35 Octa core Processor₹ 8999₹ 10999Buy On
- 19% OFF
Redmi Note 10 (Aqua Green, 4GB RAM, 64GB Storage) -Amoled Dot Display | 48MP Sony Sensor IMX582 | Snapdragon 678 Processor₹ 12999₹ 15999Buy On
- 20% OFF
Redmi 9A (Nature Green, 2GB RAM, 32GB Storage) | 2GHz Octa-core Helio G25 Processor | 5000 mAh Battery₹ 6799₹ 8499Buy On
- S&P 500: 4,339.88, up 0.4%
- Dow Jones Industrial Average: 34,694.34, up 0.53% (182.35 points)
- Nasdaq Composite: 14,527.76, up 0.22%
COVID cases have been increasing on the spread of the Delta strain of the virus and could fuel worries about stagflation, or the combination of slowing economic growth and inflation."If the virus begins to spread rapidly again, that would curtail economic growth and prolong the inflationary supply chain disruptions that have affected so many industries including semiconductors and housing," said Nancy Davis, portfolio manager of the Quadratic Interest Rate Volatility and Inflation Hedge Exchange-Traded Fund, or IVOL, in a note.
"Stagflation is a 60/40 portfolio's worst nightmare, as stocks and bonds tend to fall together during stagflationary environments. Lower economic growth punishes stocks and inflation robs bond investors of their returns," she said.Around the
Gold slipped by 0.5%, to $1,801.17 per ounce. Long-dated US Treasury yields edged up, with the 10-year yield at 1.23%.Bitcoin jumped 6%, to $31,586.92.
- Canon’s new patent hints at a telephoto lens attachment for smartphones under development
- Kerala-based ESAF Small Finance Bank looks to raise ₹998 crore through IPO
- Meet BeachBot, a beach rover that uses AI to remove cigarette butts from beaches
- Amazon Prime Day 2021: Best deals and offers on health and household products
- Odisha’s temple town Puri becomes first Indian city with drinkable tap water available throughout the day