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)
(有关美国、英国和欧洲股市的路透社直播博客，请点击live/或在新闻窗口中键入live/。)*成长型股票将连续第二周跑赢价值*霍尼韦尔上涨，券商上调目标价*3月PPI高于预期(从头到尾都是新的，更新价格，市场活动和评论以关闭)查克·米科拉杰扎克(Chuck Mikolajczak)路透4月9日电-标准普尔500指数(S&P500)和道琼斯指数(Dow)周五上涨，收于纪录高位，连续第三周上涨，部分得益于成长型股票的提振，尾盘反弹在下周季度财报季之前建立涨势.在今年大部分时间被价值型股票跑赢之后，成长型股票在过去两周找到了立足点。10年期美国公债收益率(殖利率)从3月底触及的14个月高位回落，鼓励在增长中买入.数据显示，美国3月生产者价格涨幅超过预期，创下9年半来最大年度涨幅.许多投资者现在预计通胀会上升，因为疫苗的推出有助于美国经济从冠状病毒引发的停摆中反弹，但股市几乎没有表现出担忧，因为美联储(Federal Reserve)坚称，它将允许通胀超过目标。位于佛罗里达州朱庇特的Kace Capital Advisors管理合伙人肯·波尔卡里(Ken Polcari)表示：“这就是(鲍威尔)整整一周都在喋喋不休的原因，他确保每个人都明白他们预计会出现涨势，并做好了准备，这并不令人意外，”Kace Capital Advisors的管理合伙人肯·波尔卡里(Ken Polcari)表示。“这就是市场没有退缩的原因，因为他成功地消除了人们的焦虑，阻止了人们对此产生真正的恐慌。”非正式数据显示，道琼斯工业平均指数上涨299.21点，涨幅0.89%，至33,802.78点；标准普尔500指数上涨31.58点，涨幅0.77%，至4,128.75点；纳斯达克综合指数上涨70.88点，涨幅0.51%，至13,900.19点。这些银行将于下周开始第一季度财报季，高盛(Goldman Sachs)、摩根大通(JPMorgan)和富国银行(Wells Fargo)将于周三公布财报。根据Refinitiv IBES的数据，分析师预计标准普尔500指数成份股公司的利润将比去年同期增长25%。这将是自2018年以来该季度最强劲的表现。增长指数中的苹果(Apple)、亚马逊(Amazon)和微软(Microsoft)等大盘股公司的涨幅超过了标准普尔500指数(S&P500)。亚马逊股价上涨，因阿拉巴马州的仓库工人拒绝了组建工会的尝试。在较长期美国国债收益率回落后，主要由科技股组成的罗素1000增长指数(Russell 1000 Growth Index)连续第二周表现优于主要由金融和能源等周期性股票组成的价值型指数。美国银行每周资金流数据显示，过去五个月投资者向股市投入的资金超过过去12年。霍尼韦尔(Honeywell)股价上涨提振道琼斯指数，杰富瑞(Jefferies)和摩根大通(J.P.Morgan)上调了这家美国航空零部件制造商的股票目标价。(Chuck Mikolajczak报道；David Gregorio编辑)(charles.mikolajczak@tr.com；@ChuckMik；路透社消息：Charles.mikolajczak.thomsonreuters.com@reuters.net)
译文内容由第三方软件翻译。