From Kiplinger · · 1m 20s
Stocks Climb Worry Ahead of Earnings
Stocks rise despite rising bond yields and oil prices as earnings season begins.
In brief
Stocks rise despite rising bond yields and oil prices as earnings season begins. Stocks climbed with positive earnings expectations ahead of Q4 reports. Originally reported by Kiplinger.
Stocks climb
Stocks continued to climb a wall of worry Friday with market participants undeterred by rising Treasury yields and higher oil prices.
Market benchmarks rise
The blue-chip dow jones industrial average rose 0.8% to 51,654, the s&p 500 gained 0.6% to : 7,811, and the nasdaq composite added 0.6% to 27,366.
Treasury yields rise
Yields on the 2-year treasury rose 3.3 basis points to 4.793% and the 10-year increased 1.1 basis points to 5.244%.
Oil prices climb
Front-month west texas intermediate crude futures rose 0.4% to settle at $91.85 per barrel.
Consumer sentiment falls
The university of michigan's preliminary consumer sentiment index fell 3.7% month over month to 46.3, its second-lowest reading on record.
Space x wireless plans
Space x announced it is buying a nationwide low-band spectrum license portfolio to become a major mobile carrier in the u.s.
Telecom stocks drop
At&t, t-mobile us, and verizon communications dropped 9.8%, 13.3%, and 8.8% respectively after space x's wireless plans.
Delta reports earnings miss
Delta air lines reported earnings of $1.72 per share, up 0.6% year over year but below analysts' estimate of $1.76.
The headline
Stocks climbed with positive earnings expectations ahead of Q4 reports.
