United States: The S & P 500 has the highest closing rate since February 1; PepsiCo a boost, Stocks

Wed, Jul 11, 2018 – 7:00

[NEW YORK] The S & P 500 rose on Tuesday for a fourth trading session to post its highest close since February 1, the day before the start of liquidation of the market. The consumer price index climbed 1.3 percent and provided the largest increase to the S & P 500, driven by PepsiCo, which gained 4.8 percent, while Procter & Gamble has increased by 2.5 percent and Coca-Cola was up 1.3 percent

The benchmark is now up 4.5 percent since the end of 2017, up from 39; about 3 percent in all four sessions, helped by optimistic news about the economy and earnings. Rising bond yields and potentially higher inflation boosted sales in early February, confirming a correction for the market

The results should become the key for investors in the coming weeks. far from recent trade tensions. On Friday, the United States and China imposed tariffs of 34 billion US dollars on their respective products.

"There they sold (tariffs) and then bounced back," said Alan Lancz of Alan B Lancz & Associates Inc., an investment consulting firm based in Toledo, Ohio.

JPMorgan Chase, Wells Fargo and Citigroup are expected to report the results on Friday. Their shares fell Tuesday after dominating market gains on Monday

The Dow Jones Industrial Average rose 143.07 points, or 0.58%, to 24,919.66, the S & P 500 gained 9, 67 points, or 0.35% at 2,793.84 and Nasdaq Composite PepsiCo's shares jumped after the company's quarterly results surpassed estimates of strong snack sales.

The company also reaffirmed its forecast for the year in the midst of signs of recovery According to Thomson Reuters data, the S & P 500 companies are expected to record earnings growth of about 21 percent. in the second quarter, slightly more than expected in April.

should analyze quarterly reports to measure the impact of a growing trade dispute between China and the United States on corporate profits.

Also boosting the S & P on Tuesday, utilities and telecom indexes rose about one nt each, bouncing off Monday's losses.

The rise in oil prices has raised shares of energy. The S & P energy index rose 0.7% due to higher crude oil prices in Norway and Libya, but gains were reduced after the US has announced that they would consider petitions for derogation from the Iranian oil sanctions. Nordstrom dropped 2.7% after the high-end department store operator released a gloomy sales forecast for the remainder of 2018.

Questions in progression were more numerous than those down on the NYSE of a 1.06 to 1 ratio; on the Nasdaq, a ratio of 1.53 to 1 favored declines

The S & P 500 posted 30 new highs of 52 weeks and no new troughs; The Nasdaq Composite recorded 104 new highs and 26 new lows.

About 5.8 billion shares have changed hands on US stock exchanges. This compares to the daily average of 7.0 billion for the last 20 trading days, according to Thomson Reuters data.

REUTERS