Stock market live updates: Big Tech keeps Nasdaq positive, Dow down 200, Covid bill stalls
This is CNBC’s markets live blog that will be updated throughout the day.
Stocks end the day higher as Big Tech rallies
All of the major indexes spent some of Friday’s session in the red, but all three also managed to hold onto gains into the close and end the week higher. The Dow rose 115 points for a gain of 0.44%, while the S&P advanced 0.77%. The Nasdaq Composite was the relative outperformer, posting a gain of 1.49% as strength in the technology sector pushed the index higher. – Pippa Stevens
Kansas City Southern spikes on report of private equity interest
Shares of Kansas City Southern jumped 15% and were briefly halted after Dow Jones reported that private equity firms were interested in the railroad company. The news wire service, citing sources, said Blackstone and Global Infrastructure Partners were two of the interested parties. — Jesse Pound
Earnings dichotomy: Best beat rate, worst profit levels since 2008
For corporate earnings in the second quarter, it’s been the best of times and the worst of times, depending on the metric. One one hand, the 84% beat rate for bottom-line profits would be the best quarter since FactSet began tracking in 2008, if the pace holds up. On the other hand, the 35.7% profit drop is tracking for the worst quarter since Q4 of 2008,