Earnings optimism helps Wall St shrug off rising yields, Dow rises 300 pts

 

Shares of megacap companies like Microsoft Corp, Apple Inc and Amazon, typically sensitive to bond yields, jumped more than 1% despite hawkish comments from St. Louis Federal Reserve Bank President

US stocks rose on Tuesday even in the face of surging Treasury yields as a positive earnings reports helped investors shrug off potential risks from an aggressive rise in U.S. interest rates and the Ukraine war.

Johnson & Johnson rose 2.8% to a record high as the drugmaker's quarterly profit exceeded market expectations and it raised the dividend payout.

Halliburton Co gained 1.5% after the oilfield services firm posted an 85% rise in first-quarter adjusted profit, as a rally in crude prices boosted demand for its services and equipment.

Shares of megacap companies like Microsoft Corp, Apple Inc and Amazon.com, typically sensitive to bond yields, jumped more than 1% despite hawkish comments from St. Louis Federal Reserve Bank

President James Bullard.

The benchmark 10-year note yield rose to 2.924, while the 30-year U.S. Treasury yield hit 3% for the first time since early 2019.

Does J&J’s ‘No More Tears’ baby shampoo contain cancer-causing substance?

Rajasthan’s drug controller found that Johnson & Johnson baby shampoo samples were not of standard quality

Companies News: US healthcare giant Johnson & Johnson (J&J) has once again come under the scanner after Rajasthan’s drug controller found that its baby shampoo samples were not of standard quality. The samples tested were found containing harmful substances, said the drug controller.

According to reports, the Drugs Control Organization asked state drug controllers across India to withdraw available stocks of J&J’s baby shampoo from the market to ensure that it is not used anymore. “The samples of cosmetics contains harmful ingredients,” according to the report of samples tested between 16 and 28 February.

Johnson & Johnson had suffered a huge setback in December last year, after a Reuters report alleged that there were traces of asbestos, a carcinogen, in its baby powder. In India, CDSCO ordered the company to stop manufacturing its baby powders using raw materials until further tests proved it was asbestos-free, two days after the Reuters report was published. Even

Johnson &Jonson’s hip implants left 4,000 patients in the lurch and the government is trying to get the company to pay compensation to all those affected….