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2021-11-17

Retail boost helps lift S&P 500

(Reuters) - U.S. stocks closed higher on Tuesday as earnings from Home Depot and retail sales data s

Retail boost helps lift S&P 500

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Its shares gave up early gains, however, and fell 2.55%, their biggest daily percentage decline since May, as supply-chain woes dented margins and weighed on the consumer staples sector.</p>\n<p>Retailers Target Corp, Macy's Inc and Kohl's Corp are set to report earnings this week.</p>\n<p>Other data on the day showed U.S. manufacturing output surged to a two-and-a-half-year high in October.</p>\n<p>The positive data helped investors look past comments from St. Louis Federal Reserve President James Bullard, who called for a more hawkish stance by the central bank in response to rising inflation.</p>\n<p>In contrast, San Francisco Federal Reserve Bank President Mary Daly on Tuesday called for central bank patience in the face of high inflation which, she predicted, will likely fade on its own as the pandemic recedes.</p>\n<p>Investors have also been eyeing the possibility that President Joe Biden may pick a new head of the Federal Reserve as Chair Jerome Powell's term is set to end in February 2022, with Biden saying on Tuesday afternoon he will make a final decision in about four days.</p>\n<p>Technology shares also moved higher, up 1.07%, lifted in part by a 7.89% gain in chipmaker Qualcomm Inc , which rose after it said German automaker BMW will use its chips in its next generation of driver-assistance and self-driving systems.</p>\n<p>Electric-car maker Tesla Inc posted its first advance in four sessions, even as CEO Elon Musk sold $930 million in shares. The stock had tumbled more than 15% last week after Musk began selling shares.</p>\n<p>JPMorgan Chase &amp; Co also sued Tesla for $162.2 million over a breach of contract related to stock warrants.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 1.22-to-1 ratio; on Nasdaq, a 1.14-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 80 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 152 new highs and 189 new lows.</p>\n<p>Volume on U.S. exchanges was 10.53 billion shares, compared with the 11.02 billion average for the full session over the last 20 trading days.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Retail boost helps lift S&P 500</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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Its shares gave up early gains, however, and fell 2.55%, their biggest daily percentage decline since May, as supply-chain woes dented margins and weighed on the consumer staples sector.\nRetailers Target Corp, Macy's Inc and Kohl's Corp are set to report earnings this week.\nOther data on the day showed U.S. manufacturing output surged to a two-and-a-half-year high in October.\nThe positive data helped investors look past comments from St. Louis Federal Reserve President James Bullard, who called for a more hawkish stance by the central bank in response to rising inflation.\nIn contrast, San Francisco Federal Reserve Bank President Mary Daly on Tuesday called for central bank patience in the face of high inflation which, she predicted, will likely fade on its own as the pandemic recedes.\nInvestors have also been eyeing the possibility that President Joe Biden may pick a new head of the Federal Reserve as Chair Jerome Powell's term is set to end in February 2022, with Biden saying on Tuesday afternoon he will make a final decision in about four days.\nTechnology shares also moved higher, up 1.07%, lifted in part by a 7.89% gain in chipmaker Qualcomm Inc , which rose after it said German automaker BMW will use its chips in its next generation of driver-assistance and self-driving systems.\nElectric-car maker Tesla Inc posted its first advance in four sessions, even as CEO Elon Musk sold $930 million in shares. The stock had tumbled more than 15% last week after Musk began selling shares.\nJPMorgan Chase & Co also sued Tesla for $162.2 million over a breach of contract related to stock warrants.\nDeclining issues outnumbered advancing ones on the NYSE by a 1.22-to-1 ratio; on Nasdaq, a 1.14-to-1 ratio favored decliners.\nThe S&P 500 posted 80 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 152 new highs and 189 new lows.\nVolume on U.S. exchanges was 10.53 billion shares, compared with the 11.02 billion average for the full session over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":748,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}

Retail boost helps lift S&P 500

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