US STOCKS-S&P 500, Dow climb for third day and close at records
US STOCKS-S&P 500, Dow climb for third day and close at records
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* Growth stocks set to outperform value for the second week
* Honeywell gains as brokerages raise price targets
* March PPI above expectations
(New throughout, updates prices, market activity and comments to close)
By Chuck Mikolajczak
April 9 (Reuters) - The S&P 500 and the Dow rose on Friday to close at record highs, posting a third straight weekly rise partly on lift from growth stocks, with a late-day rally building gains ahead of quarterly earnings season next week."
Growth names have found their footing over the past two weeks after being outperformed by value stocks for most of the year. A pullback in the 10-year U.S. Treasury yield from a 14-month high hit in late March encouraged buying in growth.
Data showed U.S. producer prices increased more than expected in March, bringing the largest annual gain in 9-1/2 years.
Many investors now expect higher inflation as vaccine rollouts help the U.S. economy rebound from coronavirus-fueled lockdowns, yet stocks showed little concern as the Federal Reserve has maintained it will allow inflation to overshoot its target.
"This is why all week long (Powell) was jawboning, he made sure everyone understood they were expecting a spike and they are ready for it, it wasn’t a surprise," said Ken Polcari, managing partner at Kace Capital Advisors in Jupiter, Florida.
"Which is why the market is not backing off, because he succeeded in jawboning the anxiety and stopped people from getting really panicked about it."
Unofficially, the Dow Jones Industrial Average rose 299.21 points, or 0.89%, to 33,802.78, the S&P 500 gained 31.58 points, or 0.77%, to 4,128.75 and the Nasdaq Composite added 70.88 points, or 0.51%, to 13,900.19.
The banks will kick off first-quarter earnings season next week with Goldman Sachs , JPMorgan and wells Fargo scheduled to report on Wednesday. Analysts expect profits for S&P 500 firms to show a 25% jump from a year earlier, according to Refinitiv IBES data. That would be the strongest performance for the quarter since 2018.
Megacap names such as Apple , Amazon and Microsoft , which are in the growth index, advanced to pace the S&P 500. Amazon shares rose as warehouse workers in Alabama rejected an attempt to form a union.
The Russell 1000 growth index, made up largely of technology stocks, outperformed its value counterpart , made up mostly of cyclical stocks such as financials and energy names, for a second week following the pullback in longer-dated Treasury yields.
Bank of America's weekly fund flow figures showed investors have pumped more money into equities over the past five months than in the last 12 years.
Gains in Honeywell helped lift the Dow as Jefferies and J.P. Morgan raised their price targets on the U.S. aero parts maker's shares.
(Reporting by Chuck Mikolajczak; Editing by David Gregorio)
((charles.mikolajczak@tr.com; @ChuckMik; Reuters Messaging:
charles.mikolajczak.thomsonreuters.com@reuters.net)
(有關美國、英國和歐洲股市的路透社直播博客，請點擊live/或在新聞窗口中鍵入live/。)*成長型股票將連續第二週跑贏價值*霍尼韋爾上漲，券商上調目標價*3月PPI高於預期(從頭到尾都是新的，更新價格，市場活動和評論以關閉)查克·米科拉傑扎克(Chuck Mikolajczak)路透4月9日電-標準普爾500指數(S&P500)和道瓊斯指數(Dow)週五上漲，收於紀錄高位，連續第三週上漲，部分得益於成長型股票的提振，尾盤反彈在下週季度財報季之前建立漲勢.在今年大部分時間被價值型股票跑贏之後，成長型股票在過去兩周找到了立足點。10年期美國公債收益率(殖利率)從3月底觸及的14個月高位回落，鼓勵在增長中買入.數據顯示，美國3月生產者價格漲幅超過預期，創下9年半來最大年度漲幅.許多投資者現在預計通脹會上升，因為疫苗的推出有助於美國經濟從冠狀病毒引發的停擺中反彈，但股市幾乎沒有表現出擔憂，因為美聯儲(Federal Reserve)堅稱，它將允許通脹超過目標。位於佛羅裏達州朱庇特的Kace Capital Advisors管理合夥人肯·波爾卡里(Ken Polcari)表示：“這就是(鮑威爾)整整一週都在喋喋不休的原因，他確保每個人都明白他們預計會出現漲勢，並做好了準備，這並不令人意外，”Kace Capital Advisors的管理合夥人肯·波爾卡里(Ken Polcari)表示。“這就是市場沒有退縮的原因，因為他成功地消除了人們的焦慮，阻止了人們對此產生真正的恐慌。”非正式數據顯示，道瓊斯工業平均指數上漲299.21點，漲幅0.89%，至33,802.78點；標準普爾500指數上漲31.58點，漲幅0.77%，至4,128.75點；納斯達克綜合指數上漲70.88點，漲幅0.51%，至13,900.19點。這些銀行將於下週開始第一季度財報季，高盛(Goldman Sachs)、摩根大通(JPMorgan)和富國銀行(Wells Fargo)將於週三公佈財報。根據Refinitiv IBES的數據，分析師預計標準普爾500指數成份股公司的利潤將比去年同期增長25%。這將是自2018年以來該季度最強勁的表現。增長指數中的蘋果(Apple)、亞馬遜(Amazon)和微軟(Microsoft)等大盤股公司的漲幅超過了標準普爾500指數(S&P500)。亞馬遜股價上漲，因阿拉巴馬州的倉庫工人拒絕了組建工會的嘗試。在較長期美國國債收益率回落後，主要由科技股組成的羅素1000增長指數(Russell 1000 Growth Index)連續第二週表現優於主要由金融和能源等週期性股票組成的價值型指數。美國銀行每週資金流數據顯示，過去五個月投資者向股市投入的資金超過過去12年。霍尼韋爾(Honeywell)股價上漲提振道瓊斯指數，傑富瑞(Jefferies)和摩根大通(J.P.Morgan)上調了這家美國航空零部件製造商的股票目標價。(Chuck Mikolajczak報道；David Gregorio編輯)(charles.mikolajczak@tr.com；@ChuckMik；路透社消息：Charles.mikolajczak.thomsonreuters.com@reuters.net)
譯文內容由第三人軟體翻譯。