S&P 500, Nasdaq close at record highs as earnings roll in

Mail Online | 4/23/2019 | Associated Press;Keith Griffith For Dailymail.com
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The S&P 500 and Nasdaq composite both closed at an all-time high on Tuesday, marking the stock market's complete recovery from a nosedive at the end of last year.

Stocks continued a broad rally as strong first-quarter earnings reports rolled in, easing fears of a recession as investors saw good prospects for continued steady economic growth.

US - Stocks - Results - Likes - Hasbro

U.S. stocks soared on upbeat results from the likes of Hasbro, Twitter Inc, Coca-Cola Co, United Technologies Corp and Lockheed Martin Corp, which eased fears of a profit recession in a busy week for corporate earnings.

The S&P 500 has now recovered all of the ground it lost last fall, gaining 24.8 per cent since it hit a bottom on Christmas Eve.

S - P - Record - September - Market

The S&P 500's previous record was set last September, shortly before the market sank in the fourth quarter amid fears of a recession, an escalating trade war between the U.S. and China, and concern the Federal Reserve was moving too aggressively to raise interest rates.

Those concerns have eased or taken a back seat to more optimism among investors this year.

Investors - Prospects - Growth - Federal - Reserve

Investors are more confident in the prospects for steady, if slower, growth. And they've been encouraged by an increasingly hands-off Federal Reserve, which has signaled this year that it may not raise interest rates at all in 2019 after seven increases the prior two years.

Traders are also feeling more optimistic about the global economy. In China, economic growth held steady at 6.4 per cent in the first quarter of the year as increased government efforts to stem a slowdown gained traction. In the U.S., job growth rebounded in March following a surprisingly weak February.

Uncertainty - Trade - Dispute - US - China

And the uncertainty over the costly trade dispute between the U.S. and China has eased in recent weeks amid signs that both sides are making progress toward reaching a resolution.

'New highs,...
(Excerpt) Read more at: Mail Online
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