Wall Street closed higher as softer US producer inflation and strong early Q2 earnings boosted sentiment. PayPal surged on a reported buyout offer, while BlackRock and Morgan Stanley beat estimates. Despite weak semiconductor stocks, easing rate hike expectations and solid bank results supported gains across major indexes.
Wall Street closed higher as softer US producer inflation and strong early Q2 earnings boosted sentiment. PayPal surged on a reported buyout offer, while BlackRock and Morgan Stanley beat estimates. Despite weak semiconductor stocks, easing rate hike expectations and solid bank results supported gains across major indexes.
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Wall Street stocks gained ground as softening inflation data and a robust beginning of second-quarter earnings season put investors in a buying mood.All three major stock indexes closed modestly higher despite weakness in semiconductors, with consumer-focused retail and travel/leisure clear outperformers.PayPal surged after sources told Reuters that Stripe and private equity firm Advent International have jointly offered to acquire it for $60.50 per share - representing around a 28% premium…
