US STOCKS-Wall Street kicks off month on strong footing, growth stocks lag



  • Source: Investing.com India - - Read: 0

    Summary:

     

    • Financials, energy, materials lead sectoral gains

    • Moderna rises on vaccine supply deal with COVAX

    • Estee Lauder (NYSE:) falls as Q3 revenue misses estimates

    • U.S. manufacturing sector slows in April

    • Indexes up: Dow 0.85%, S&P 0.60%, 0.38% (Updates prices to open, adds comments)

    By Shreyashi Sanyal and Sruthi Shankar

    May 3 (Reuters) - Wall Street's main indexes rose on Monday after a week of largely upbeat earnings strengthened expectations of sustained profit growth for companies, while some high-flying growth stocks lagged a broader rally.

    With more than half of S&P 500 companies having already reported results so far, profits are seen rising 46% in the first quarter, compared with forecasts of 24% growth at the start of April, according to IBES data from Refinitiv. ...

     

     

    Read Full News: https://in.investing.com/news/us-stockswall-street-kicks-off-month-on-strong-footing-growth-stocks-lag-2709713


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