Wall Street indices rallied as investors piled into beaten-down tech stocks and awaited inflation data, hoping the Federal Reserve might ease up on its aggressive monetary policy this year
plunged 12.5% following the banking and payments processing conglomerate's decision to spin off its merchant payments business.As U.S. quarterly earnings reports wind down, 69% of the S&P 500 firms that have reported results so far have exceeded profit expectations, according to Refinitiv data. Analysts expect December-quarter earnings to have fallen nearly 3% from a year earlier.The S&P 500 posted four new highs and no new lows; the Nasdaq recorded 80 new highs and 59 new lows.
Reporting by Johann M Cherian in Bengaluru; Editing by Maju Samuel, Sriraj Kalluvila, Shinjini Ganguli and Deepa Babington
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