⁍ The rebound came after a more than 3% slide a day earlier in Wall Street’s main indexes.
⁍ Stocks rallied as investors anticipated strong results from a line-up of the biggest names in the U.S. corporate universe.
– A better-than-expected earnings report from Pinterest helped send stocks higher on Thursday. The S&P 500 and Nasdaq rose more than 1% to close at 2,861 and 11,185, respectively, per the Wall Street Journal. The tech-heavy Nasdaq had been down as much as 2% in the first half of the day, but it was still up more than 1% at mid-day. “The earnings season so far has resulted in significant positive earnings surprises,” one investment strategist tells Reuters. “We think that’s helping to fuel today’s rally in anticipation of positive surprises from these companies.” On Wednesday, the Dow fell more than 300 points, while the S&P and Nasdaq dropped more than 3%.
Source: https://www.reuters.com/article/usa-stocks/wall-street-rebounds-ahead-of-tech-earnings-upbeat-us-data-helps-idUSKBN27E2BD