All three indices started the day strongly higher, to be up 2% from their Monday closes, but then lost momentum as the hours passed.
“Banks reported good (quarterly) results and that fueled the enthusiasm, but I wonder if this momentum is not simply a technical rally from a bear market”said skeptical LBBW’s Karl Haeling.
Goldman Sachs published its quarterly balance. Although its net profit plummeted 44% in the third quarter compared to the same period last year, thanks to its brokerage activity, it ended up posting better results than expected.
In the third quarter, the group’s net profit was US$2.96 billion. Per share, the benchmark on Wall Street, the profit was $8.25, higher than the $7.69 analysts had expected. Meanwhile, billing fell 12% to US$11.98 billion, but was also above forecasts.
Goldman Sachs closed 2.5% higher on Tuesday. The other big banks also closed higher: Morgan Stanley gained 3.%, JP. Morgan 2.6% and Bank of America 3.8%.
This day also presented balance the arms manufacturer Lockheed Marti. The stock jumped 8.8% to $432.32 after better-than-expected earnings per share, boosted by its aeronautics division.
In the technology sector, Netflix surprised the market after the close and gained 14% in electronic exchanges after hours, noting that it gained 2.4 million subscribers during the third quarter to total 223 million accounts, after losing 1.2 million between January and June. This is a record for the streaming firm.
Source: Ambito
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