S&P 500 rises 1% as Earnings Accelerate – US Market Wrap
Wall Street traders pushed equities higher on strong indications from corporate America and expectations that tensions between the world’s two largest economies are easing. Bond yields have drifted down.
With the earnings season well underway, almost 85% of the S&P 500 businesses that have reported results to date have exceeded profit projections. This has led to a resurgence in stocks, with the benchmark posting its largest two-day increase since June. Expectations that the trade war will de-escalate, as the US and China return to the bargaining table helped to boost sentiment.
President Donald Trump renewed his threat to impose tariffs on Chinese imports “if there isn’t a deal” by November 1st, but emphasized intentions to meet with President Xi Jinping next week. Earlier this month, markets were roiled when Trump threatened a high tariff rate, citing China’s “hostile” export regulations.
The S&P 500 increased by 1.1%. Loop Capital, the latest business to cite strong iPhone demand patterns, raised Apple’s shares to buy, helping the company set its first record in 2025. A barometer of technology megacaps rose 1.6%. The Russell 2000 index of small businesses rose 1.9%.
The yield on 10-year Treasuries declined three basis points to 3.98 percent. Gold prices soared. Soybean prices surged, with growers hoping that Trump will reach an agreement with China to restart delayed American exports.
