US Stocks Jumps

In a week packed with economic data and speeches from US Federal Reserve officials, investors will look for clues on the pace of monetary policy easing this year

"Could Lilly be the first $1 trillion biopharma stock?" Morgan Stanley's Terence Flynn and colleagues asked in a note to clients. "We continue to see a path for further upside"

Shares of megacap companies like Microsoft Corp, Apple Inc and Amazon, typically sensitive to bond yields, jumped more than 1% despite hawkish comments from St. Louis Federal Reserve Bank President

Wall Street's main indexes climbed after two turbulent sessions and ahead of the outcome of a Federal policy meeting, with a stellar outlook from Microsoft boosting technology stocks

The S&P US Listed China 50 index, which is designed to track the performance of the 50 largest Chinese companies listed on US exchanges by total market cap, logged a weekly rise of 6 per cent

The benchmark S&P 500 and the Dow are now 5.5% and 7.4% away from their respective closing highs, after surging more than 45% from their pandemic lows

On Monday, both contracts dropped to their lowest since October, on track for their biggest monthly declines since May.

The week greeted investors with several doses of positive news, as the signs of progress joined with expectations for further monetary stimulus from the Fed after its Wednesday meeting

The Nasdaq Composite added 43.36 points