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NEW YORK, July 21 (Reuters) – Wall Street clinched its second straight advance on Wednesday, as robust corporate earnings and renewed optimism about the U.S. economic recovery fueled investor risk appetite.
All three major U.S. stock indexes extended the previous session’s gains, placing all three within 1% of their all-time closing highs.
Economically sensitive smallcaps, semiconductors and financials outperformed the broader market.
“It’s a seesaw going on between great earnings and a recovering market and concerns over whether the economy is going to slow down because of the (COVID-19) Delta variant,” said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. “But we’re seeing strong earnings with generally positive guidance, and the feeling that (the Delta variant) can be…