LONDON – US stock indices struck new intraday highs Thursday as traders welcomed blockbuster earnings, a soothing message from the Federal Reserve and more data pointing towards a solid economic recovery.
However those gains faded a bit as traders also reacted also to President Joe Biden’s first address to Congress where he laid out another huge spending plan aimed at helping American families and paid for with taxes on the wealthy.
Data showed that the US economy accelerated in the first quarter to an annualised growth rate of 6.4 percent.
“The key takeaway from the report is that it is indicative of an economy that is bouncing back sharply with the help…
Keep on reading: Strong earnings, recovery cocktail sends US stocks to new highs