U.S. stocks rally as energy sector leads

0 Comment(s)Print E-mail Xinhua, July 15, 2020
Adjust font size:

NEW YORK, July 14 (Xinhua) -- U.S. stocks ended noticeably higher on Tuesday as a broad rise in energy sector bolstered the market.

The Dow Jones Industrial Average jumped 556.79 points, or 2.13 percent, to 26,642.59. The S&P 500 was up 42.30 points, or 1.34 percent, to 3,197.52. The Nasdaq Composite Index increased 97.73 points, or 0.94 percent, to 10,488.58.

Shares of U.S. energy giants Chevron and Exxon Mobil and were up 3.45 percent and 3.31 percent, respectively, among the best performers in the 30-stock average.

All the 11 primary S&P 500 sectors closed higher, with energy up 3.6 percent, outpacing the rest. Materials and industrials each gained more than 2 percent.

U.S.-listed Chinese companies traded roughly lower, with all of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.

Wall Street pored through a slew of earnings reports and economic data.

JPMorgan Chase on Tuesday delivered earnings that beat estimates. The stock closed 0.57 percent higher. Citigroup shares were under pressure after the company reported mixed results. Wells Fargo stock dipped 4.6 percent after reporting a 2.4-billion U.S. dollars loss in the second quarter.

The estimated earnings decline for the S&P 500 is 43.8 percent for the second quarter, according to data from FactSet as of early July.

On the data front, the Consumer Price Index (CPI) for All Urban Consumers in the United States increased 0.6 percent in June on a seasonally adjusted basis after falling 0.1 percent in May, the U.S. Bureau of Labor Statistics reported Tuesday. The so-called core CPI, which strips out food and energy, rose 0.2 percent in June, its first monthly increase since February. Enditem

Follow China.org.cn on Twitter and Facebook to join the conversation.
ChinaNews App Download
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter