Wednesday, 08 July 2020
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Trade Optimism, Earnings Power Wall Street to Fresh Record High

Wall Street's main indexes hit fresh record highs on Friday, led by gains in technology stocks as upbeat comments related to U.S.-China trade talks and solid earnings from semiconductor industry bellwether Applied Materials brightened sentiment.

Shares in Applied Materials Inc (AMAT.O) jumped 9.2% and pushed the Philadelphia Semiconductor index to an all-time high after the chip gear maker forecast first-quarter results above estimates.

Nine of the 11 major S&P 500 sectors were higher. The trade-sensitive technology sector rose 0.5%, providing the biggest boost.

At 10:15 a.m. ET the Dow Jones Industrial Average was up 107.75 points, or 0.39%, at 27,889.71, while the S&P 500 was up 10.97 points, or 0.35%, at 3,107.60. The Nasdaq Composite was up 38.97 points, or 0.46%, at 8,517.99.

Source : Reuters

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