In Wall Street, the S&P 500 rises this Thursday, since the reference index is recovered after three consecutive loss sessions. The solid results of Tesla and other companies boost profits.
The broad market index rose 0.3%, and the Nasdaq Composite gained 0.5%. The Dow Jones Industrial Average lags, losing 94 points, or 0.2%.
Tesla soars more than 17% after the electric vehicle maker posted third-quarter results that beat analysts’ expectations. Whirlpool and Lam Research also performed positively, with increases of 9% and 5%, respectively.
El Dow se vio afectado por IBM, que cae más del 6% al no alcanzar las estimaciones de ingresos por consultoría. Boeing also weighed on the 30-stock index, as the company’s shares fell more than 2% after its mechanics rejected a new labor contract.
More than 32% of S&P 500 has reported third quarter numbers so far. Of those companies, 76% have exceeded the expectations of analysts, according to Factset.
Stocks are coming off a session of losses, with the Dow suffering its biggest daily drop since early December, losing more than 400 points on Wednesday. The S&P 500 fell almost 1%, and the Nasdaq lost 1.6%.
Treasury yields moved lower Thursday morning, helping lift market sentiment following increases in yields that kept stocks under pressure this week. The 10-year Treasury yield surpassed the 4.25% threshold on Wednesday at the highest point of the session.
Paul Hickey, co -founder of Bespoke Investment Group, said he would not read too much in the recent sale of shares. He warned that the market could experience a slight pullback after the November US presidential election, but would find its stability after that event.
“Solo tienes que ponerlo en perspectiva con lo que hemos visto en las últimas seis semanas. Part of this rally has been driven by the fact that the earnings results — for starters, the big banks — were very strong, and their stock price reactions were also positive,” he said on “Closing Bell: Overtime.” from CNBC on Wednesday afternoon. “It’s a difficult day, but these days happen.”
Source: Ambito
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