Sumary of US STOCKS-Wall Street ekes out gains, led by tech, growth stocks:
- By Stephen Culp4 Min ReadNEW YORK (Reuters) – Big tech helped Wall Street inch up to a higher close on Thursday, modestly building on a two-day rally as lackluster economic data and mixed corporate earnings prompted a pivot back to growth stocks.
- FILE PHOTO: A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in New York City, New York, U.S., July 19, 2021. REUTERS/Andrew KellyA pull-back in economically sensitive cyclicals kept the S&P 500’s and the blue-chip Dow’s gains muted, while small-caps underperformed their larger rivals.
- The Dow Jones Industrial Average rose 25.35 points, or 0.07%, to 34,823.35, the S&P 500 gained 8.79 points, or 0.20%, to 4,367.48 and the Nasdaq Composite added 52.64 points, or 0.36%, to 14,684.60.Of the 11 major sectors of the S&P 500, tech was shining brightest, gaining 0.7%.
- Drugmaker Biogen Inc gained 1.1% after hiking its full-year revenue guidance, while Domino’s Pizza Inc surged 14.6% to an all-time high on the heels of its quarterly report.
- Shares of Texas Instruments Inc slid 5.3% after its current-quarter revenue forecast cast concerns as to whether the company will be able to meet spiking demand in the face of a global semiconductor shortage.