Stocks Rally as Investors Turn Focus to Earnings: Markets Wrap
- Traders show calm in aftermath of U.S.-led missile attack
- Oil declines as shale concern lingers and Syria fears subside
Earnings look set to be a "major focus" for equity investors, says Andrew Sheets, chief cross asset strategist at Morgan Stanley.
(Source: Bloomberg)U.S. stocks rose as geopolitical tensions faded and investors turned to what’s expected to be a blowout corporate earnings season. The dollar fell against most peers.
The S&P 500 Index gained to the highest in almost a month and erased its loss for the year as investors eyed the earnings season after there was no immediate reprisal to the U.S.-led missile strike in Syria and trade concerns took a back seat. The benchmark got a boost from health-care supply companies after a report said Amazon Inc. shelved a plan to sell drugs. Netflix Inc. shares rose more than 5 percent in after-hours trading after the company reported results.