Wall Street inches higher in pivot back to growth stocks

 Wall Street inches higher in pivot back to growth stocks
  • Weekly jobless claims rise unexpectedly
  • Biogen up on raising full-year revenue forecast
  • Airlines dip after Southwest, American Airlines results
  • Indexes up: Dow 0.16%, S&P 0.20%, Nasdaq 0.38%

NEW YORK, July 22 (Reuters) – Wall Street edged higher on Thursday, as lackluster economic data and mixed corporate earnings sent investors back to growth stocks.

A pull-back in economically sensitive cyclicals kept the S&P 500’s and the blue-chip Dow’s gains muted, while small-caps (.RUT) underperformed their larger rivals.

But megacap market leaders such as Apple Inc (AAPL.O), Amazon.com (AMZN.O), Facebook Inc (FB.O), Google-owner Alphabet Inc (GOOGL.O) and Microsoft Corp (MSFT.O) rose ahead of their quarterly results next week, putting the tech-laden Nasdaq out front.

All three major U.S. stock indexes currently stand within 0.5% of their record closing highs

Growth stocks (.IGX), which outperformed throughout the health crisis, were back in favor,…

Read full article…www.reuters.com