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Tuesday, January 26, 2021

Wall Street ekes out gains

Duration: 01:08s 0 shares 1 views
Wall Street ekes out gains
Wall Street ekes out gains

Stocks on Wall Street inched higher Monday, driving the indexes to record closing highs.

As Fred Katayama reports, falling energy shares capped the gains.

Stocks inched higher Monday amid mixed headlines on U.S.-China trade relations.

But that was enough for the three big indexes to rise one-tenth percent to close at record highs.

Consumer stocks rallied, but falling oil prices dragged down energy stocks, capping the gains.

First American Trust chief investment officer Jerry Braakman: SOUNDBITE: FIRST AMERICAN TRUST CHIEF INVESTMENT OFFICER JERRY BRAAKMAN (ENGLISH) SAYING: "We're really optimistic that, at least for the next few months here, that from our market perspective, we have a lot of support, both with the Fed action and then actually wrapping up a very better-than-expected earnings season." Energy stocks like Exxon Mobil, Chevron, and Apache were the day's biggest losers on the S&P 500.

Shares of HP and Xerox declined after HP turned the table on its printing rival.

HP rejected Xerox's $33.5 billion offer.

But it's keeping its options open, saying it might instead make its own bid to take over Xerox.

Coty shares rallied.

The cosmetic maker said it'll pay $600 million to buy a majority stake in reality TV star Kylie Jenner's make-up and skincare business.


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