US Stocks Rebound on Syria Optimism

Growth stocks including technology, financial and industrial stocks led gains on the main U.S. indexes.

Boeing (BA.N) rose 1.53 percent and was the biggest boost to the Dow, while Microsoft (MSFT.O) and JPMorgan (JPM.N) rose 1.5 percent each, lifting the S&P 500.

The gains came as first-quarter earnings season kicked off, with the world’s largest asset manager BlackRock Inc (BLK.N) reporting quarterly profit above Wall Street estimates. Its shares were up 2.6 percent.

Analysts expect quarterly profit for S&P 500 companies to rise 18.5 percent from a year ago, the biggest gain in seven years, according to Thomson Reuters I/B/E/S.

“We’re seeing some early optimism ahead of earnings and there’s no bad news for the moment, be it back and forth between Russia and the U.S. or trade war situation,” said Andre Bakhos, managing director at New Vines Capital LLC in Bernardsville.

“This is first full quarter with new taxes… that is a variable that could work very positively in the favor of investors.”

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza