Stocks up as market faces down latest hurdle: dismal profits
July 12, 2020
NEW YORK (AP) — Here comes the latest hurdle for the pandemic-defying stock market to leap with ease, investors hope: the worst quarterly profit drop in more than a decade.
Stocks climbed worldwide Monday, adding to their stellar gains of recent months, as CEOs prepare to tell their investors how much less money they made in the spring as the coronavirus pandemic pounded the economy.
The S&P 500 was 1.5% higher in afternoon trading, following up on similar gains across Europe and Asia. It's close to its highest level since the market began selling off in late February due to virus worrie...