The main Wall Street indices rise strongly this Tuesday, April 23 thanks to the gains from some growth and chip stockswhile values like General Motors and Spotify they advance through the encouraging earnings reportsin advance of the quarterly reports of large technology companies.
In that context, the Dow Jones Industrial Average climbs 181.08 points, or 0.5%, to 38,421.06 units; he S&P 500 adds 55.33 points, or 1.1%, to 5,065.93 units; and the Nasdaq Composite it shoots up 235.15 points, or 1.5%, to 15,686.45 units.
Wall Street rises strongly due to good corporate results
The strong increases on Wall Street follow the advance of some mega-cap growth stocks such as Meta Platforms, Microsoft and Alphabet They earned between 1.5% and 2.5%.
Furthermore, it is planned that the big technology companies present their quarterly figures this weekand Tesla will begin the cycle after the markets close on Tuesday.
The initial earnings of some chip values They also offered support for equities, with Nvidia, Micron Technology and Advanced Micro Devices rising between 2.4% and 3.3%.
Regarding profits, General Motors advance 4.8% after the Automaker to post quarterly results above Wall Street targets and raise its annual forecasts.
Spotifymeanwhile, soared 16.7% after the Quarterly gross profit of the Swedish streaming music company will exceed €1 billion for the first time ($1.1 billion).
“Overall, people are happy with how (profits) have gone, because they’re surprised things haven’t gotten worse,” he said. Will McDonoughpresident and CEO of Corestone Capital.
On the opposite side, JetBlue plummets 15.2%, after the low-cost airline cut its annual revenue forecast after reporting tepid revenue in the first quarter.
Nine of the 11 major S&P 500 sectors rose, with communication services among the biggest risers, up 1.4%.
Wall Street awaiting key inflation data
On Friday the personal consumption expenditure (PCE) index March, the preferred inflation measure of the Federal Reservewhich will help determine the trajectory of the central bank’s monetary policy.
Source: Ambito
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