Wall Street rallies at the close to finish well in the green

Wall Street rallies at the close to finish well in the green

4.10pm US stocks head higher on strong earnings Stocks gained for a second straight day on Wall Street, powering the S&P 500 and Dow nearly 1% higher to close at 4,359 and 34,798 points respectively. The Nasdaq also closed in positive territory at 14,632 points. 12.15pm: US stocks head north at lunch US stocks were higher at the midday point, with markets making a convincing comeback. The Dow Jones Industrial Average added almost 263 points at 34,772, while the broader-based S&P 500 added around 27 at 4,350. The tech heavy Nasdaq gained around 84 points to stand at 14,583.  “Having reversed all its Monday losses in yesterday’s session, US markets have continued to move higher in early trade,” said Michael Hewson, chief market analyst at CMC Markets. On the corporate front, streaming giant Netflix (NASDAQ:NFLX) shares were among the most significant movers, plunging over 3.58% to stand at US$511.74 each. “Netflix shares have been given a bit of a slap after last night’s disappointing Q2 update. It is true that subscriber growth is slowing, however revenues are still holding up despite the company having to raise prices,” noted Hewson. 10.55am: Proactive North America headlines: New Oroperu Resources Inc (CVE:ORO) (OTCMKTS:NOPUF) (FRA:OE6) and First Light complete C$22M financing as part of Anacortes Mining combination deal Biocept Inc (NASDAQ:BIOC) (FRA:B003) wins approval for expanded Medicare coverage for its Target Selector assay to detect cancer biomarkers Fortitude Gold Corp (OTCQB:FTCO) receives permits to expand Isabella Pearl heap leach pad in Nevada Fidelity Minerals Corp (CVE:FMN) (FRA:S5GM) (OTCMKTS:SAIDF) poised for US$3M exploration program at Las Huaquillas project as company strikes deal to lift its ownership to 50% American Battery Metals Corporation (OTCQB:ABML) appoints Doug Hamilton to Head of Policy ahead of company name change Logiq Inc (NEO:LGIQ) (OTCQX:LGIQ) expands affordable media buying to Asia Pacific region for any size agency or brand Ridgeline Minerals Corp (CVE:RDG) (OTCQB:RDGMF) (FRA:0GC0) uncovers new mineralized horizon at its Selena silver-gold project in Nevada North Arrow Minerals Inc (CVE:NAR) (OTCMKTS:NHAWF) (FRA:VTJ1) completes 50% of its Naujaat diamond bulk sampling program Endexx Corporation (OTCMKTS:EDXC) reveals significant corporate progress so far in 2021 as it passes a key financial test Aurania Resources Ltd (CVE:ARU) (OTCQB:AUIAF) (FRA:20Q) says drill results prove Tsenken zone is connected to Tiria-Shimpia target KWESST Micro Systems Inc (CVE:KWE) (OTCQB:KWEMF) taps former police officer and YouTube star Brandon Tatum as advisor and advocate for KWESST in the US Mydecine Innovations Group Inc (NEO:MYCO) (OTCMKTS:MYOCF) (FRA:0NFA) expands patent portfolio to include MDMA-like compounds Harvest One Cannabis Inc (CVE:HVT) (OTCQB:HRVOF) drives expansion with WB Canna to distribute its products in the Caribbean and Central America NetCents Technology Inc (CSE:NC) (FRA:26N) (OTCPINK:NTTCF)  appoints Colin Sutherland as interim CFO Plurilock Security Inc (CVE:PLUR) (OTCQB:PLCKF) wins US$1.9M contract from the US Department of Defense Globex Mining Enterprises Inc (CVE:GMX) (OTCQX:GLBXF) says it has completed the acquisition of Rockport Mining MegumaGold Corp (CSE:NSAU) (OTCMKTS:NSAUF) (FRA:2CM2)  poised to start diamond drilling at Caribou gold project in Nova Scotia next month Empower Clinics Inc (CSE:CBDT) (FRA:8EC) (OTCQB:EPWCF) to sell its legacy cannabis assets Marvel Discovery Corp (CVE:MARV) (FRA:O4T1) (OTCQB:MARVF) acquires ground next door to Sassy, east of New Found’s Queensway gold project in Newfoundland OTC Markets Group Inc (OTCQX:OTCM) announces second quarter 2021 quarterly rebalancing of indexes Else Nutrition Holdings Inc (CVE:BABY) (OTCMKTS:BABYF) (FRA:0YL.F) announces strategic additions to its team, with the appointment of two former Abbott Laboratories executives American Manganese Inc (CVE:AMY) (OTCQB:AMYZF) (FRA:2AM) moves closer to potential electrolytic manganese production using Wenden stockpile material 9.38am: Wall Street starts higher The main indices on Wall Street managed to open in the green on Wednesday as positive earnings lifted optimism among traders. Shortly after the opening bell, the Dow Jones Industrial Average was up 0.41% at 34,655 while the S&P 500 climbed 0.34% to 4,337 and the Nasdaq rose 0.16% to 14,521. Early winners of the session included Verizon, which rose 1.9% to US$56.63 after upgrading its guidance, and Coca Cola, which jumped 2.4% to US$57.16 after receiving a quarterly revenue bump. 8:00am: Wall Street to open mostly higher Wall Street is set to continue its rebound after Monday’s rout, as investors put aside concerns about the Delta variant and concentrate on the positives for the economic recovery. The Dow Jones Industrial Average is expected to open 157 points or 0.45% higher. The S&P 500, which on Tuesday saw its biggest one day gain since March, is set to rise 0.27% although the Nasdaq Composite is spoiling the party a little, forecast to fall 0.11%. Ahead of the open Johnson & Johnson (NYSE:JNJ) beat expectations with its second-quarter results. Sales rose 27% while net earnings advanced 73.1%. The Coca-Cola Company (NYSE:KO) also reported a strong second-quarter performance and raised its guidance for the full year. Revenues rose 37% while earnings per share were up 48%. After its new zero sugar Coke launched in various parts of the world including Japan, Turkey and parts of Europe and saw 15% growth so far this year, it is now available in the US. J&J’s shares are up 1% in pre-market trading while Coca-Cola is 2% better. As an indicator of the growing strength of the US economy, 60 S&P companies had reported results before today, and 85% of them had beaten analysts’ forecasts. Four things to watch for on Wednesday: Other notable earnings today will be coming from mobile network operator Verizon Communications Inc (NYSE:VZ), electronics group Texas Instruments Inc (NASDAQ:TXN) and insurance firm Anthem Inc (NYSE:ANTM) Shares in Netflix Inc (NASADAQ:NFLX) are likely to see fallout from its results overnight, which saw subscriber growth continue to slow Tesla Inc (NASDAQ:TSLA) may also draw attention after Elon Musk said the company will open up its supercharger stations to other electric vehicles On the macro front, investors may be interested in the latest US mortgage application data

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