(Reuters) - Wall Street stocks bounced higher on Thursday as expectations that lower U.S. taxes would fuel corporate earnings added to easing of nerves over U.S. military conflict with Russia in Syria.
Growth stocks including technology, financial and industrial stocks led gains on the main U.S. indexes.
The gains came as first-quarter earnings season kicked off, with the world’s largest asset manager BlackRock Inc (BLK.N) reporting quarterly profit above Wall Street estimates. Its shares were up 2.6 percent.
Analysts expect quarterly profit for S&P 500 companies to rise 18.5 percent from a year ago, the biggest gain in seven years, according to Thomson Reuters I/B/E/S.
“We’re seeing some early optimism ahead of earnings and there’s no bad news for the moment, be it back and forth between Russia and the U.S. or trade war situation,” said Andre Bakhos, managing director at New Vines Capital LLC in Bernardsville.
“This is first full quarter with new taxes... that is a variable that could work very positively in the favor of investors.”
U.S. President Donald Trump toned down his threats of a swift military strike on Syria, tweeting “Never said when an attack on Syria would take place.