US stocks rose on energy sector strength and positive oil price movement, despite concerns.

From Investing.com: 2024-08-07 13:08:55

U.S. stocks rose on Wednesday after a prior selloff, with energy stocks leading the market higher as oil prices jumped. Data showed U.S. crude stocks fell more than expected. Targa Resources, Williams Companies, and Devon Energy were top gainers. Walt Disney saw a drop in park profits, while Shopify shares soared. Super Micro Computer stock fell after earnings missed estimates, and Airbnb stock dropped after a revenue forecast below estimates. Despite recession fears and market stress, Citi strategists maintain confidence in S&P 500 earnings resilience for 2024.
Goldman Sachs noted an elevation in market stress but within normal historical levels, with no serious disruptions requiring policy intervention.



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