Morgan Stanley reported a 150% jump in first-quarter profit on Friday that sailed past Wall Street expectations, while disclosing an almost $1 billion loss from the collapse of private fund Archegos.
Global stock markets gained on Monday at the start of a busy week featuring Federal Reserve and Opec meetings and major US corporate earnings.
NEW YORK: Stocks are opening higher on Wall Street Tuesday as the earnings reporting season for US companies gets into high gear and as traders turn their focus to the transition to the administration of President-elect Joe Biden.
Wall Street’s main indexes fell on Friday after President Donald Trump threatened to slap new tariffs on China over the coronavirus crisis, while a profit warning from Amazon added to the gloom.
US stocks were upbeat at the open on Friday, amid new positive signs that Washington and Beijing are moving towards at least a partial deal to end the lingering trade conflict.
World share markets rose on Monday, led by a rebound on Wall Street, even as rising COVID-19 cases threaten to stall the recovery of the world’s largest economy.
Wall Street’s main indexes fell sharply on Thursday as the spread of the COVID-19 Delta variant cast doubts over an economic recovery, while a rout in Chinese tech stocks appeared to have spilled across markets.
Quincy Krosby, chief market strategist at Prudential Financial described it as “a year of extreme extremes.”
European and US stock markets slumped on Friday as investors dwelled on the prospect of rising US interest rates. Europe’s main bourses all fell nearly two per cent.