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Wall Street rallies

Monday, April 17, 2017 - 01:19

U.S. stocks bounced back in a broad rally led by bank and technology shares. Roselle Chen reports.

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After the bell, Netflix first quarter subscriber additions missed estimates sending the stock down three percent. U.S. stocks snapped a three-day losing streak as investors turned their attention to the first-quarter earnings season, putting geopolitical concerns on backburner. Investors say the earnings season will show whether companies can live up to their lofty valuations, especially after a post-election rally. Don Steinbrugge of Agecroft Partners: (SOUNDBITE) DONALD A. STEINBRUGGE, CFA, AGECROFT PARTNERS, (ENGLISH) SAYING: "A lot of people are very optimistic over the next week they're gonna see some great earnings estimates. Many people predicting that this is going to be the best quarter we've had since 2011. What concerns me is the fact that, I think, the second quarter guidance is probably going to be little bit lower than people expect." Geopolitical risks that drove the markets last week seemed to be waning. President Donald Trump's national security adviser said on Sunday the United States, its allies, and China were working on a range of responses to North Korea's latest failed ballistic missile test. He also said Trump was not considering military action for now. On the trading floor... Amazon was up after Credit Suisse raised its price target on the stock. Credit Suisse also raised its price target on Boeing, sending that stock up. Banks dragged down shares in Europe.

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Wall Street rallies

Monday, April 17, 2017 - 01:19