Wall Street rose on Wednesday as US President Donald Trump secured concessions from the European Union on trade, while a disappointing quarterly report from Facebook after the bell slammed its stock and threatened to put the brakes on a tech rally.
Elsewhere, the picture was more gloomy as the Nasdaq shed 74 points to hover at 7,857 amid the severe decline in Facebook shares which came after the social media giant's quarterly revenue figures missed expectations.
The S&P 500 index fell 5 points, to 2,840, and the Dow Jones industrial average gained 128 points, or 0.5 percent, to 25,543, buoyed after the European Union and the United States agreed to negotiate on trade.
S&P 500 energy stocks.SPNY also advanced, ending the session up 1.0 percent, as oil prices rose on the disruption of some of Saudi Arabia's oil shipments.
Ford lost 6 percent to $9.89 after the automaker disclosed a sharp drop in quarterly profits and said it would undertake a restructuring that will cost $11 billion over the next three to five years. The focus is likely to remain on the technology sector as shares in Twitter plunged 15 per cent after it said the number of monthly users dropped in the second quarter.
With close to half of the index's companies having reported, the second quarter is expected to see earnings growth of 22.4 per cent.
Industrials and trade-sensitive stock gained after President Donald Trump and the European Commission chief agreed to tackle their transatlantic trade row, seeking to "resolve" USA tariffs on steel and aluminum and Europe's retaliatory duties.Читайте также: Mourinho: Klopp has to deliver after spending spree
In after-hours trading, however, Facebook shares sank as much as 23 percent after it warned about slowing growth and climbing expenses. Trump said that the United States and the European Union had agreed to work toward eliminating tariffs on industrial goods and increasing USA exports of liquefied natural gas and soybeans to Europe.
The Commerce Department said durable goods orders jumped by 1.0 percent in June after falling by a revised 0.3 percent in May.
Benchmark U.S. crude rose 31 cents to settle at $69.61 per barrel in NY. During trading on Wednesday, the NASDAQ Composite Index hit a record high as investors started to cram back in FANG stocks once again.
McDonald's Corp shares dipped 1.8 percent after the fast-food chain missed US same-store sales estimates for the first time in at least two years. Brent crude, used to price global oils, added 61 cents to close at $74.54. The yield on the 10-year Treasury rose to 2.98 percent from 2.97 percent.
CURRENCIES: The dollar slipped to 110.99 yen from 111.23 yen on Thursday.
The Russell 2000 is down 1.45 points, or 0.1 percent. The euro strengthened to $1.1652 from $1.1645. Britain's FTSE 100 picked up 0.6 percent. Hong Kong's Hang Seng index edged 0.1 percent lower.При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
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