US stocks close higher as rally continues, Dow +0.8%
Thursday, July 22, 2021       03:36 WIB

New York, July 21, 2021 (AFP)
Wall Street climbed for a second consecutive day on Wednesday, reversing losses earlier in the week when resurging Covid-19 infections and inflation fears prompted a sharp sell-off.
Strong earnings from major US corporations fueled the gains, which came after major indices rose about 1.5 percent in Tuesday's session, bouncing back from Monday's rout that was the worst day of trading so far this year.
The benchmark Dow Jones Industrial Average rose 0.8 percent to 34,797.93 at the close.
The broad-based S&P 500 also added 0.8 percent to 4,358.66, while the tech-rich Nasdaq Composite Index gained 0.9 percent to end at 14,631.95.
Analysts at Charles Schwab investment bank said the fast-spreading Delta variant of Covid-19, which has prompted some US cities to reimpose mask requirements, "has added a layer of uncertainty to the back-half of 2021."
But traders took heart from the latest round of healthy earnings reports, including from Coca-Cola, which gained 1.3 percent after boosting its full-year forecasts following better-than-expected results in the second quarter tied to the restoration of businesses connected to professional sports and other live events.
Chipotle Mexican Grill jumped 11.5 percent after it reported blowout results, with Chief Executive Brian Niccol predicting strong earnings "for many years to come." Revenue surged nearly 40 percent to $1.9 billion.
However, Netflix finished trading 3.3 percent lower, after the streaming giant's profits missed expectations and it projected disappointing subscriber additions in the current quarter.

Sumber : AFP