Home » News » Börse Express – New York Stocks: Quarterly numbers and robust job data drive recovery

Börse Express – New York Stocks: Quarterly numbers and robust job data drive recovery

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NEW YORK (dpa-AFX) – Wall Street went on a recovery course on Thursday. After the last few cloudy days, the most important stock indices now rose significantly. Robust economic data in particular proved to be the driving force. In addition, some companies surprised positively with their quarterly figures.

Der Dow Jones Industrial increased by 1.51 percent to 34,897.45 points. The S&P 500 gained 1.64 percent to 4435.51 points. For the tech-heavy Nasdaq 100
it went up 1.83 percent to 15,045.47 points.

The situation on the labor market has surprisingly improved significantly. The number of weekly initial jobless claims fell below 300,000 for the first time in the Corona crisis.

With regard to individual companies, the health insurer UnitedHealth picked up its profit forecast for this year after a surprisingly good summer quarter again. The shares jumped to a record high and recently rose by a good four percent.

The drugstore and pharmacy chain Walgreens Boots Alliance
recovered significantly from the consequences of the corona pandemic in the final quarter of its 2020/21 financial year. In addition to strong profit growth in pharmacies and retail in the United States, the group also cited a continued recovery in the UK as reasons. After a subdued start, the papers recently soared by almost nine percent and thus sat at the top of the Dow. The stock exchange traders justified the latest upward push by saying that the management emphasized the company’s long-term growth prospects in the conference call after the quarterly figures were announced.

In addition, the largest US bank JPMorgan reported now other important financial institutions also have strong leaps in profits. Bank of America too and Wells Fargo
benefited in the third quarter from the reversal of provisions that they had formed in the Corona year 2020 with a view to impending loan defaults. Because the economy is recovering from the crisis, and it is foreseeable that not as many loans will fail as had been feared in the meantime. Morgan Stanley money houses
and Citigroup also increased their profits significantly.

Nevertheless, the reaction from investors was mixed. While Bank of America’s shares rose 3.6 percent and Morgan Stanley’s 1.7 percent, Citigroup’s shares rose only moderately. Wells Fargo shares fell more than 1 percent. This bank saw its earnings decline. In addition, the scandal about bogus account openings once again had a negative impact on the books.

Off the reporting season, Boeing’s shares fell
at the Dow end by more than one percent. The series of problems with the Pannenjet 787 “Dreamliner” does not stop. Now a supplier announced that some components were not manufactured correctly./la/he

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AXC0293 2021-10-14/20:16

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