Wall St. Eliminates Trading Tensions While Profits Take Center Stage By Investing.com

Investing.com – Stocks ended higher on Thursday as upbeat earnings helped offset new US-China trade concerns after Beijing threatened to take revenge for President Donald Trump's decision to ban US companies from using Huawei technology.

The increase of 0.84%, the increase of 0.89%, while the gain of 0.97%.

While the trade war between the US and China has dominated market direction in recent days, corporate profits, better than expected, took center stage on Thursday, recalling that some sectors of the economy remained sturdy.

Walmart (NYSE 🙂 reported first-quarter results above consensus at Investing.com, with better-than-expected US same-store sales up 1.4%.

Cisco Systems (NASDAQ 🙂 also released optimistic and upbeat revenue forecasts, raising its shares by nearly 6.7%. Cisco was among the best-performing stocks in the Dow, S & P 500 and Nasdaq-100 indices. The last rose 1% on the day.

The sunny day for Cisco, however, did not prevent a collapse of the chip industry following Trump's executive decision against Huawei products.

Following Trump's decision, Foreign Ministry spokesman Lu Kang said Beijing was opposed to countries that applied unilateral sanctions to Chinese companies and pledged to take action. The latest upsurge in trade tensions occurred while the two countries recently imposed tariffs.

In the industry, Boeing (NYSE 🙂 was up 2.36%, adding to the gains of the day before because the aircraft manufacturer would have completed the software update of its 737 Max. The update is seen as a key step in the re-commissioning of its much-maligned jetliners, the 737 Max, after the world's aviation authorities grounded the aircraft after two fatal accidents.

Boeing added that he was considering working with the Federal Aviation Administration to schedule a certification flight.

Energy stocks also boosted the overall market, as oil prices rose as traders continued to bet on potential disruptions in global crude oil supply in a context of rising tensions in the Middle East. East.

On the economic front, the stronger-than-expected April rally and lower-than-expected decline, pointing to signs of underlying economic strength, raised US Treasury bond yields, boosting equity stocks. banking.

Citigroup (NYSE :), Bank of America (NYSE 🙂 and Goldman Sachs (NYSE 🙂 closed up more than 1%

Main winners and losers of the S & P 500 today:

Cisco Systems (NASDAQ :), Linde (NYSE 🙂 and Mettler-Toledo International (NYSE 🙂 were among the top winners of the S & P 500 for the session.

Nektar Therapeutic (NASDAQ :), Xilinx (NASDAQ 🙂 and Qorvo (NASDAQ 🙂 were among the worst in the S & P 500 session.