Wall St hits session highs as trade war worries fade

Wall St hits session highs as trade war worries fade

Traders react as they work on the floor of the New York Stock Exchange in New York April 5, 2018.

European markets were mostly higher today, with the Spanish Ibex Index rising 0.74 percent, STOXX Europe 600 Index gaining 0.36 percent and German DAX 30 index climbing 0.74 percent.

USA companies seen as more likely to be hit by trade tensions with China were among the biggest drags on the Dow, including Boeing, down 3.1 per cent. Boeing was the biggest to the Dow, while gains in Apple shares (AAPL.O) led the gainers on the S&P 500.

The rising tensions sent oil prices surging, boosting energy stocks.SPNY 1 percent.

Bed, Bath & Beyond plunged 20 percent after giving a weak forecast for its fiscal year.

Members of the Federal Reserve voted unanimously to raise borrowing costs by a quarter percentage point and expressed confidence that the economy would strengthen and inflation would rise in coming months. But the risk-off sentiment weighed on Treasury yields US10YT=RR, pushing financial stocks.SPSY down 1.3 percent.

USA stocks will face a major test in coming weeks as first-quarter earnings pour in. On the Nasdaq, 1,642 issues rose and 791 fell for a 2.08-to-1 ratio favoring advancers.

Ten of the 11 major S&P sectors were higher, with technology and energy stocks leading the gainers.

Bed, Bath & Beyond plunged 19 percent after giving a weak forecast for its fiscal year.

Apple's HomePod isn't flying off the shelves
He says Apple will probably sell 7 million HomePods this year and close to 11 million in 2019. Adding some as-yet-undefined feature (beyond better sound) that helps differentiate HomePod.

The S&P 500 index showed six new 52-week highs and one new lows, while the Nasdaq recorded 36 new highs and 22 new lows.

Data showing a rise in USA core inflation for March - which was up 0.2 per cent and matched February's increase rise - failed to boost yields as headline consumer prices fell for the first time in 10 months.

Several companies were moving higher after reporting encouraging results.

Verifone Systems shares rose 52 percent after the company agreed to be taken private for $2.28 billion.

Apple rose 1.4 percent in early trading Monday, and Microsoft climbed 1.1 percent.

The broad-based S&P 500 gained 1.7 per cent to 2,656.46, while the tech-rich Nasdaq Composite Index advanced 1.6 per cent to 7,061.91.

At 9:48 a.m. EDT the Dow Jones industrial average was up 138.69 points, or 0.58 percent, at 24,071.45.

In summary, the All Share Index (ASI) gained 69.86 absolute points, representing a growth of 0.17 per cent to close at 40,499.04 points.

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