Stocks Rise as Earnings Offset Virus, Oil Concerns: Markets Wrap
- 10-year Treasury yield, crude oil pare back earlier losses
- Technology sector shrugs off fresh China clampdown worries
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U.S. equities gained on Tuesday as mostly positive earnings were able to offset fresh concerns about China’s technology clampdown and the delta virus variant.
The S&P 500 rose to a record as Ralph Lauren Corp., Gartner Inc. and Under Armour Inc. gained after earnings. Meanwhile, the Nasdaq 100 also recovered from earlier losses after the Chinese state media criticized the “spiritual opium” of gaming and the U.K. was said to be considering a block on Nvidia Corp.’s $40 billion deal to acquire Arm Ltd.