exchanges was relatively heavy, with 11.7 billion shares traded, compared to an average of 10.7 billion shares over the previous 20 sessions. The S&P 500 posted two new highs and 30 new lows the Nasdaq recorded 51 new highs and 37 new lows. read moreĪdvancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 3.7-to-1 ratio. Regeneron Pharmaceuticals climbed 5.9% after it beat quarterly revenue estimates, while coffee chain Starbucks Corp (SBUX.O) rose over 4% after it reported upbeat quarterly profits. Moderna Inc (MRNA.O) surged about 16% after the vaccine maker announced a $3 billion share buyback plan. The S&P 500 has rebounded about 13% from its closing low in mid-June and would have to climb another 15% to get back to its record high close in early January. Of the 11 S&P 500 sector indexes, 10 rose, led by information technology (.SPLRCT), up 2.69%, followed by a 2.52% gain in consumer discretionary (.SPLRCD). The most traded stock in the S&P 500 was Tesla, with $24.3 billion worth of shares exchanged during the session. The S&P 500 climbed 1.56% to end the session at 4,155.12 points. central bank is committed to getting inflation under control and returning it to its 2% target. ![]() Meanwhile, Richmond Federal Reserve President Thomas Barkin on Wednesday joined policymakers saying that the U.S. Manuelian said an additional factor behind Wednesday's stock rally was growing confidence among investors that the Fed has already carried out the bulk of the interest rate hikes that will be necessary to bring inflation under control. pharmacy chain raised its annual profit forecast after posting strong quarterly results. read moreĬVS Health gained 6.3% after the largest U.S. PayPal soared almost 10% after it raised its annual profit guidance and said activist investor Elliott Management had an over $2 billion stake in the financial technology firm. "We're going through Q2 earnings and, by and large, from the tech complex to consumer discretionary and industrials, we're seeing a lot of better-than-feared prints, and that's just good enough right now," said Sahak Manuelian, managing director of trading at Wedbush Securities in Los Angeles.Īpple (AAPL.O) and Amazon (AMZN.O) rallied almost 4%, while Facebook-owner Meta Platforms (META.O) jumped 5.4%. The low-stress way to find your next paypal job opportunity is on SimplyHired. New paypal careers in New York, NY are added daily on. See salaries, compare reviews, easily apply, and get hired. Reports exceeding low expectations have helped Wall Street rebound from losses caused by worries about decades-high inflation, rising interest rates and shrinking economic output. 97 paypal jobs available in New York, NY. ![]() read moreĪ fresh batch of strong results from companies including PayPal (PYPL.O) and CVS Health Corp boosted sentiment in a largely upbeat quarterly reporting season. That supported views that the economy was not in recession despite output slumping in the first half of the year. ![]() services industry unexpectedly picked up in July amid strong order growth, while supply bottlenecks and price pressures eased. Indexes: S&P 500 +1.56%, Nasdaq +2.59%, Dow +1.29%Īug 3 (Reuters) - Wall Street ended sharply higher on Wednesday, with strong profit forecasts from PayPal and CVS Health Corp lifting sentiment and helping elevate the Nasdaq to its highest level since early May.ĭata showed the U.S.Moderna jumps on $3 billion share buyback plan.PayPal rises after raising profit outlook.service sector unexpectedly picks up in July
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