S&P, Nasdaq advance on trade optimism

Updated:8 months, 3 weeks ago IST

New Delhi, May 02 (ANI): Tech stocks lifted Wall Street mostly higher Tuesday. A Trump administration official's comment that he hoped to further open China's economy helped the S&P 500 bounce back. But Pfizer's disappointing earnings drove down the Dow, which fell for the third straight session. After ringing of the bell, Apple shares rose. Its quarterly profit and revenue topped expectations as it sold 52.2 million iPhones. Pfizer dropped. Quarterly revenue at the U.S.' largest drugmaker rose but missed estimates. Rival Merck lifted its earnings forecast for the year, but its shares also fell. The company formerly known as Coach, Tapestry, tumbled. The handbag maker's quarterly margins dropped, and same store sales at its Kate Spade business declined more than expected. In Europe consumer cyclicals and healthcare stocks drove the markets higher.

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