This Tuesday, Wall Street operates in the green after going through several gloomy sessions, as it assimilates a avalanche of business results In U.S.A.
Thus, the main indices show palpable optimism: the Dow Jones Industrial advances 0.5%, the Nasdaq, known for its strong technological component, rises 0.6%, and the S&P 500which serves as a key reference for investors, recorded an increase of 0.6%.
After a past week with mixed results and a pullback in US Treasury rates, Wall Street appears to be getting back on track.
Today, spirits in the New York City square are rising following the impressive results of corporate giants such as Verizon and General Electric, which exceeded expectations in their summer earnings.
Wall Street: the data that the market expects
Verizon posted a 7% increase, thanks to a 20% increase in its broadband subscribers and profits that surpassed analysts’ estimates during the summer.
For its part, General Electric reported solid 4.6% profit growth, driven in part by the strength of its aerospace business. Coca Cola It also adds to the wave of good news with an increase of 2.6%, highlighting that growth in markets such as Mexico and India has contributed to exceeding profit forecasts. In addition, it has raised its profit forecast for the entire year 2023.
Summer earnings season is in full swing, with more than 30% of S&P 500 companies scheduled for release this week. These companies are generally expected to report their first earnings per share growth in a year, which is essential to stabilizing the stock market.
However, a careful look is maintained on the bond market, which has seen a rapid rise in yields in recent times. Despite recent stability, investors are wondering whether yields can rise further without negative consequences.
On the other hand, in the oil market, Prices fall again, easing inflation concerns. Benchmark U.S. crude oil fell 0.8% to $84.78 a barrel, and Brent crude, the international standard, fell 0.6% to $89.26 a barrel. Oil volatility remains due to geopolitical concerns, such as the conflict in the Middle East.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
