Latest news with #PaulNolte
Zawya
28-05-2025
- Business
- Zawya
US Stocks: US stocks end sharply higher on Trump's tariff reprieve
NEW YORK: Wall Street surged on Tuesday as investor risk appetite was buoyed by U.S. President Donald Trump's latest tariff respite and an unexpected jump in consumer confidence. A broad rally sent all three major U.S. stock indexes higher, with strength in the AI-related "magnificent seven" group of momentum stocks putting the tech-laden Nasdaq out front. The S&P 500 is now within 3.6% of its record closing high reached on February 19, having plunged as much as 18.9% below that level in the wake of Donald Trump's erratic tariff announcements, which have whipsawed markets for much of the President's second term. "When (Trump) came out with guns blazing April 2, the market thought the world was ending," said Paul Nolte, senior wealth adviser and market strategist at Murphy and Sylvest in Elmhurst, Illinois. "The selloff was so strong and quick that you would expect some rebound, and the rebound has been so sharp and quick that you would expect some type of pullback as investors digest it and ask themselves what the terrain really looks like." In the latest move, the president backed down from his 50% tariff threat against the European Union, delaying its implementation until July 9 to allow for negotiations between the White House and the 27-nation bloc. The move prompted Brussels to prepare for trade negotiations. "Investors have kind of figured Trump out a little bit," Nolte added. "He's like the poker player at the table that you know is making some bets and then when pressed by the other players at the table, he folds." On the economic front, a 14.4% surge in current-month consumer confidence added momentum to the rally, helping investors look past a steeper-than-expected drop in new orders for core capital goods, considered a barometer of U.S. corporate spending plans. Richmond Federal Reserve President Thomas Barkin told Bloomberg that economic data has yet to show increased price pressure or joblessness, echoing the sentiments of many Fed officials who anticipate the key interest rate will remain unchanged until the full effect of Trump's tariffs is known. Minutes from the U.S. Federal Reserve's most recent monetary policy meeting are due on Wednesday. Long-dated U.S. Treasury yields dipped, while those on the 30-year note were set for their biggest one-day fall since late April, mimicking a steep price rally in longer-term Japanese debt. The Dow Jones Industrial Average rose 740.58 points, or 1.78%, to 42,343.65, the S&P 500 gained 118.72 points, or 2.05%, to 5,921.54 and the Nasdaq Composite gained 461.96 points, or 2.47%, to 19,199.16. All 11 major sectors of the S&P 500 advanced on the day, with consumer discretionary and tech shares leading the gainers. Airlines and megacap tech-related growth stocks were the clear outperformers. Semiconductors were also ahead of the pack, one day before chipmaker Nvidia is due to report its quarterly results. Year-on-year, the AI darling is expected to post a 43.5% jump in earnings per share, on a 66.2% revenue surge. Temu-parent PDD Holdings dropped 13.6% after reporting a 47% fall in first-quarter profit and missed quarterly revenue estimates. Lagging shares were Fair Isaac Corp, down 11.3%, VeriSign, Inc, down 3.6%, and Autozone Inc, lower by 3.4%. Advancing issues outnumbered decliners by a 5.42-to-1 ratio on the NYSE. There were 222 new highs and 27 new lows on the NYSE. On the Nasdaq, 3,206 stocks rose and 1,264 fell as advancing issues outnumbered decliners by a 2.54-to-1 ratio. The S&P 500 posted 24 new 52-week highs and no new lows while the Nasdaq Composite recorded 87 new highs and 63 new lows. Volume on U.S. exchanges was 16.98 billion shares, compared with the 17.72 billion average for the full session over the last 20 trading days. (Reporting by Stephen Culp; Additional reporting by Shashwat Chauhan and Kanchana Chakravarty in Bengaluru; Editing by Aurora Ellis)
Economic Times
25-04-2025
- Business
- Economic Times
Wall Street ends higher on tech boost, easing tariff tensions
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads U.S. stocks closed higher on Thursday, rallying for a third straight day with a solid boost from technology shares as investors parsed a mixed bag of corporate earnings and watched for signs of progress in the U.S.-China tariff three major U.S. stock indexes posted sharp gains, with the "magnificent seven" group of artificial intelligence-related megacaps, boosted by AI-powered software firm ServiceNow's better-than-expected quarterly results, giving the Nasdaq the called for cancellation of U.S. tariffs on Chinese goods, following comments from U.S. Treasury Secretary Scott Bessent signaling the White House could be willing to de-escalate trade tensions that have whipsawed markets for tariff rhetoric is "part of the reason why you're seeing the chips lead because they've been kind of in the bull's eye in (the trade dispute) between China and the U.S.," said Paul Nolte, senior wealth advisor & market strategist at Murphy & Sylvest in Elmhurst, Illinois. "So any cooling of tariff talks between the two countries bolsters the technology sector as a whole.""There's still a ton of questions around tariffs right now that we really don't have answers to," Nolte added. "So a lot of us are just kind of throwing darts in the dark."As first-quarter earnings season hits full stride, the extent to which trade war uncertainties have affected business and consumer sentiment is making itself known. PepsiCo , Chipotle Mexican Grill and American Airlines all cut or withdrew forecasts due to elevated uncertainty among for Procter & Gamble slid by 3.7% and PepsiCo tumbled 4.9%.Not all guidance was profit was better than analysts expected due to resilient demand for AI-powered software. Its shares jumped 15.5%.Hasbro's results beat expectations, helped by the strength of its gaming segment, sending the toymaker's shares up 14.6%.Of the 157 companies in the S&P 500 that have reported so far, 74% have beaten expectations, and analysts currently believe aggregate S&P 500 earnings growth of 8.9% year-on-year, up from 8.0% as of April 1, according to the data front, stronger-than-expected new orders for durable goods and rangebound jobless claims painted a picture of economic Dow Jones Industrial Average rose 486.83 points, or 1.23%, to 40,093.40, the S&P 500 gained 108.91 points, or 2.03%, to 5,484.77 and the Nasdaq Composite gained 457.99 points, or 2.74%, to 17, shares rose in extended trading after the Google parent beat quarterly revenue the 11 major sectors of the S&P 500 all but consumer staples advanced, with technology shares enjoying the largest percentage gains, up 3.5%.Advancing issues outnumbered decliners by a 5.84-to-1 ratio on the NYSE. There were 50 new highs and 30 new lows on the the Nasdaq, 3,401 stocks rose and 1,005 fell as advancing issues outnumbered decliners by a 3.38-to-1 S&P 500 posted 4 new 52-week highs and 4 new lows while the Nasdaq Composite recorded 40 new highs and 51 new on U.S. exchanges was 14.95 billion shares, compared with the 19.15 billion average for the full session over the last 20 trading days.
Time of India
25-04-2025
- Business
- Time of India
Wall Street ends higher on tech boost, easing tariff tensions
U.S. stocks closed higher on Thursday, rallying for a third straight day with a solid boost from technology shares as investors parsed a mixed bag of corporate earnings and watched for signs of progress in the U.S.-China tariff stand-off. All three major U.S. stock indexes posted sharp gains, with the "magnificent seven" group of artificial intelligence-related megacaps, boosted by AI-powered software firm ServiceNow's better-than-expected quarterly results, giving the Nasdaq the edge. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Seniors in the Philippines Can Enjoy Affordable Private Health Insurance! (See List) Local Plan Search Now Undo Beijing called for cancellation of U.S. tariffs on Chinese goods, following comments from U.S. Treasury Secretary Scott Bessent signaling the White House could be willing to de-escalate trade tensions that have whipsawed markets for weeks. Easing tariff rhetoric is "part of the reason why you're seeing the chips lead because they've been kind of in the bull's eye in (the trade dispute) between China and the U.S.," said Paul Nolte, senior wealth advisor & market strategist at Murphy & Sylvest in Elmhurst, Illinois. "So any cooling of tariff talks between the two countries bolsters the technology sector as a whole." "There's still a ton of questions around tariffs right now that we really don't have answers to," Nolte added. "So a lot of us are just kind of throwing darts in the dark." Live Events As first-quarter earnings season hits full stride, the extent to which trade war uncertainties have affected business and consumer sentiment is making itself known. Procter & Gamble, PepsiCo , Chipotle Mexican Grill and American Airlines all cut or withdrew forecasts due to elevated uncertainty among consumers. Shares for Procter & Gamble slid by 3.7% and PepsiCo tumbled 4.9%. Not all guidance was downbeat. ServiceNow's profit was better than analysts expected due to resilient demand for AI-powered software. Its shares jumped 15.5%. Hasbro's results beat expectations, helped by the strength of its gaming segment, sending the toymaker's shares up 14.6%. Of the 157 companies in the S&P 500 that have reported so far, 74% have beaten expectations, and analysts currently believe aggregate S&P 500 earnings growth of 8.9% year-on-year, up from 8.0% as of April 1, according to LSEG. On the data front, stronger-than-expected new orders for durable goods and rangebound jobless claims painted a picture of economic resilience. The Dow Jones Industrial Average rose 486.83 points, or 1.23%, to 40,093.40, the S&P 500 gained 108.91 points, or 2.03%, to 5,484.77 and the Nasdaq Composite gained 457.99 points, or 2.74%, to 17,166.04. Alphabet shares rose in extended trading after the Google parent beat quarterly revenue estimates. Of the 11 major sectors of the S&P 500 all but consumer staples advanced, with technology shares enjoying the largest percentage gains, up 3.5%. Advancing issues outnumbered decliners by a 5.84-to-1 ratio on the NYSE. There were 50 new highs and 30 new lows on the NYSE. On the Nasdaq, 3,401 stocks rose and 1,005 fell as advancing issues outnumbered decliners by a 3.38-to-1 ratio. The S&P 500 posted 4 new 52-week highs and 4 new lows while the Nasdaq Composite recorded 40 new highs and 51 new lows. Volume on U.S. exchanges was 14.95 billion shares, compared with the 19.15 billion average for the full session over the last 20 trading days.
New Straits Times
25-04-2025
- Business
- New Straits Times
Wall Street ends higher on tech boost, easing tariff tensions
NEW YORK: US stocks closed higher on Thursday, rallying for a third straight day with a solid boost from technology shares as investors parsed a mixed bag of corporate earnings and watched for signs of progress in the US-China tariff stand-off. All three major US stock indexes posted sharp gains, with the "magnificent seven" group of artificial intelligence-related megacaps, boosted by AI-powered software firm ServiceNow's better-than-expected quarterly results, giving the Nasdaq the edge. Beijing called for cancellation of US tariffs on Chinese goods, following comments from US Treasury Secretary Scott Bessent signaling the White House could be willing to de-escalate trade tensions that have whipsawed markets for weeks. Easing tariff rhetoric is "part of the reason why you're seeing the chips lead because they've been kind of in the bull's eye in (the trade dispute) between China and the US," said Paul Nolte, senior wealth advisor & market strategist at Murphy & Sylvest in Elmhurst, Illinois. "So any cooling of tariff talks between the two countries bolsters the technology sector as a whole." "There's still a ton of questions around tariffs right now that we really don't have answers to," Nolte added. "So a lot of us are just kind of throwing darts in the dark." As first-quarter earnings season hits full stride, the extent to which trade war uncertainties have affected business and consumer sentiment is making itself known. Procter & Gamble, PepsiCo, Chipotle Mexican Grill and American Airlines all cut or withdrew forecasts due to elevated uncertainty among consumers. Shares for Procter & Gamble slid by 3.7 per cent and PepsiCo tumbled 4.9 per cent. Not all guidance was downbeat. ServiceNow's profit was better than analysts expected due to resilient demand for AI-powered software. Its shares jumped 15.5 per cent. Hasbro's results beat expectations, helped by the strength of its gaming segment, sending the toymaker's shares up 14.6 per cent. Of the 157 companies in the S&P 500 that have reported so far, 74 per cent have beaten expectations, and analysts currently believe aggregate S&P 500 earnings growth of 8.9 per cent year-on-year, up from 8.0 per cent as of April 1, according to LSEG. On the data front, stronger-than-expected new orders for durable goods and rangebound jobless claims painted a picture of economic resilience. The Dow Jones Industrial Average rose 486.83 points, or 1.23 per cent, to 40,093.40, the S&P 500 gained 108.91 points, or 2.03 per cent, to 5,484.77 and the Nasdaq Composite gained 457.99 points, or 2.74 per cent, to 17,166.04. Alphabet shares rose in extended trading after the Google parent beat quarterly revenue estimates. Of the 11 major sectors of the S&P 500 all but consumer staples advanced, with technology shares enjoying the largest percentage gains, up 3.5 per cent. Advancing issues outnumbered decliners by a 5.84-to-1 ratio on the NYSE. There were 50 new highs and 30 new lows on the NYSE. On the Nasdaq, 3,401 stocks rose and 1,005 fell as advancing issues outnumbered decliners by a 3.38-to-1 ratio. The S&P 500 posted 4 new 52-week highs and 4 new lows while the Nasdaq Composite recorded 40 new highs and 51 new lows. Volume on US exchanges was 14.95 billion shares, compared with the 19.15 billion average for the full session over the last 20 trading days.
Free Malaysia Today
24-04-2025
- Business
- Free Malaysia Today
Wall Street ends higher on tech boost, easing tariff tensions
Volume on US exchanges totalled 14.95 billion shares, compared to the 19.15 billion average over the past 20 sessions. (AP pic) NEW YORK : US stocks closed higher on Thursday, rallying for a third straight day with a solid boost from technology shares as investors parsed a mixed bag of corporate earnings and watched for signs of progress in the US-China tariff stand-off. All three major US stock indexes posted sharp gains, with the 'magnificent seven' group of artificial intelligence-related megacaps, boosted by AI-powered software firm ServiceNow's better-than-expected quarterly results, giving the Nasdaq the edge. Beijing called for cancellation of US tariffs on Chinese goods, following comments from US treasury secretary Scott Bessent signalling the White House could be willing to de-escalate trade tensions that have whipsawed markets for weeks. Easing tariff rhetoric is 'part of the reason why you're seeing the chips lead because they've been kind of in the bull's eye in (the trade dispute) between China and the US,' said Paul Nolte, senior wealth advisor & market strategist at Murphy & Sylvest in Elmhurst, Illinois. 'So any cooling of tariff talks between the two countries bolsters the technology sector as a whole.' 'There's still a tonne of questions around tariffs right now that we really don't have answers to,' Nolte added. 'So a lot of us are just kind of throwing darts in the dark.' As first-quarter earnings season hits full stride, the extent to which trade war uncertainties have affected business and consumer sentiment is making itself known. Procter & Gamble, PepsiCo, Chipotle Mexican and American Airlines all cut or withdrew forecasts due to elevated uncertainty among consumers. Shares for Procter & Gamble slid by 3.7% and PepsiCo tumbled 4.9%. Not all guidance was downbeat. ServiceNow's profit was better than analysts expected due to resilient demand for AI-powered software. Its shares jumped 15.5%. Hasbro's results beat expectations, helped by the strength of its gaming segment, sending the toymaker's shares up 14.6%. Of the 157 companies in the S&P 500 that have reported so far, 74% have beaten expectations, and analysts currently believe aggregate S&P 500 earnings growth of 8.9% year-on-year, up from 8.0% as of April 1, according to LSEG. On the data front, stronger-than-expected new orders for durable goods and rangebound jobless claims painted a picture of economic resilience. The Dow Jones Industrial Average rose 486.83 points, or 1.23%, to 40,093.40, the S&P 500 gained 108.91 points, or 2.03%, to 5,484.77 and the Nasdaq Composite gained 457.99 points, or 2.74%, to 17,166.04. Alphabet shares rose in extended trading after the Google parent beat quarterly revenue estimates. Of the 11 major sectors of the S&P 500 all but consumer staples advanced, with technology shares enjoying the largest percentage gains, up 3.5%. Advancing issues outnumbered decliners by a 5.84-to-1 ratio on the NYSE. There were 50 new highs and 30 new lows on the NYSE. On the Nasdaq, 3,401 stocks rose and 1,005 fell as advancing issues outnumbered decliners by a 3.38-to-1 ratio. The S&P 500 posted 4 new 52-week highs and 4 new lows while the Nasdaq Composite recorded 40 new highs and 51 new lows. Volume on US exchanges was 14.95 billion shares, compared with the 19.15 billion average for the full session over the last 20 trading days.
