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US STOCKS-Wall Street gains as earnings season gathers steam


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* U.S. trade negotiators likely to visit China next week -SCMP

* Micron jumps on report of Goldman upgrade

* Tech stocks lead gains among major S&P sectors

* Indexes up: Dow 0.09%, S&P 0.21%, Nasdaq 0.53% (Updates to open)

By Amy Caren Daniel

July 22 (Reuters) - U.S. stocks rose on Monday, lifted bytechnology companies, as investors eyed fresh U.S.-China tradedevelopments during a busy week of corporate earnings withresults from marquee names including Facebook and Amazon on tap.

Second-quarter earnings started off on a dour note last weekas results from major banks raised concerns about profit growthin a low interest rate environment. Tech earnings on the otherhand have been robust, with Microsoft CorpMSFT.O andInternational Business Machines IBM.N reporting profit beats.

"We are going into another round of earnings which is goingto set the tone for markets, and U.S.-China trade talks looklike they can go forward and that is a positive thing," said KimForrest, chief investment officer at Bokeh Capital Partners inPittsburgh.

The South China Morning Post reported U.S. trade negotiatorswill likely visit China next week for their first face-to-facetalk with Chinese officials since the G20 meeting, when Trumpheld off on fresh tariffs on Chinese goods. urn:newsml:reuters.com:*:nL4N24N2RZ

As earnings season progresses, profits at S&P 500 companiesare now estimated to rise about 1%, according to Refinitiv IBESdata, in a reversal from earlier expectations of a small drop.

About 30% of S&P 500 companies are set to report resultsthis week. Facebook IncFB.O , Amazon.com IncAMZN.O andGoogle-parent Alphabet IncGOOGL.O , up between 0.1% and 1%,are reporting between Wednesday and Thursday.

"I think their results are probably going to be fine, butthey will need to address their problems on impendingregulations and how they are going to channel that, so that itdoesn't impair their ability to grow money," Forrest said.

Investors will parse through company results to gauge theimpact that the trade war has had on corporate profits, to seewhether results are poor enough to persuade the Federal Reserveto take strong action this year.

Hopes of an interest rate cut helped Wall Street's mainindexes recover from a slump in May and scale record levels.

On the earnings front, Halliburton CoHAL.N rose 7.1%, themost among S&P 500 companies, after the oilfield servicesprovider's second-quarter profit beat analysts' estimates. urn:newsml:reuters.com:*:nL4N24N2DB

At 9:46 a.m. ET, the Dow Jones Industrial Average .DJI wasup 25.77 points, or 0.09%, at 27,179.97, the S&P 500 .SPX wasup 6.17 points, or 0.21%, at 2,982.78. The Nasdaq Composite .IXIC was up 43.28 points, or 0.53%, at 8,189.77.

Technology companies .SPLRCT rose 0.91%, the most amongthe major S&P sectors trading higher, and the Philadelphia chipindex .SOX gained 1.69%.

Semiconductor companies likely got a boost from news thatWhite House economic adviser Larry Kudlow will host a meetingwith semiconductor and software executives on Monday to discussthe U.S. ban on sales to China'sHuawei TechnologiesHWT.UL . urn:newsml:reuters.com:*:nL2N24K1DH

Micron Technology Inc'sMU.O shares, which rose 3%, werealso lifted by a report that Goldman Sachs upgraded its sharesto "buy".

Advancing issues outnumbered decliners for a 1.50-to-1 ratioon the NYSE and a 1.45-to-1 ratio on the Nasdaq.

The S&P index recorded one new 52-week high and one new low,while the Nasdaq recorded 14 new highs and 37 new lows. (Reporting by Amy Caren Daniel in Bengaluru; Additionalreporting by Karina Dsouza; Editing by Shounak Dasgupta) ((Amy.CarenDaniel@thomsonreuters.com ; within U.S.+1-646-223-8780; outside U.S. +91 80 6749 9250 ; ReutersMessaging: Amy.CarenDaniel.thomsonreuters.com@reuters.net))






This article appears in: Politics , Stocks , World Markets , US Markets
Referenced Symbols: AMZN ,



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