July 21 (UPI)- The Dow Jones Industrial Average rose 286 points on Wednesday, and the market rebounded for the second straight day.
The Good Equity Index rose 0.83%, the S & P 500 rose 0.82%, and the Nasdaq Composite Index rose 0.92%.
Chevron shares rose 3.41% to lead the Dow as oil prices rebounded after falling below $ 70 a barrel on Monday and Boeing also performed well at 2.48%.
After both companies, Wednesday’s earnings report continued to be released as Chipotle shares rose 11.54% and Coca-Cola shares rose 1.29%. Reported quarterly earnings It exceeded the pre-pandemic level.
On the contrary, Netflix’s share price fell 3.28% after reporting that it expected 3.5 million net subscribers in the third quarter. This is nearly 2 million below analysts’ estimates.
“If the earnings season theme remains a bright outlook for the economy and strong consumers dealing with current price increases, the Treasury could plummet further, with 10-year yields by the earnings season Onada’s senior market analyst, Edward Moya, could exceed 1.4% Investor Business Daily.. “Reflationary trading is back, and this time it could continue,” he said.
Yields on 10-year Treasuries fell 8 basis points on Wednesday to 1.293% after falling to a five-month low on Monday, but bonds continued to fall from 1.7% earlier this year.
“The catalyst for why investors are happy with their risk assets in the last two days is certainly elusive.” Goldman SachsChris Hassy told CNBC on Wednesday. “Perhaps investors have just begun to accept the idea that the response function to a new wave of viruses is unlikely to be the same as the response function adopted in the spring of 2020.
https://www.upi.com/Top_News/US/2021/07/21/Dow-rises-286-markets-rebound-second-consecutive-day/1981626897366/ Dow rises 286 points as market rebounds for two consecutive days