The cloud service Cloudflare is shooting up after reporting strong growth.
Photo: CARLO ALLEGRI / Reuters / NTBPublisert:
Less than 20 minutes ago
Updated less than 10 minutes ago
The case is updated throughout the trading day.
This is how the leading indices look shortly after opening in the US markets:
- The S&P 500 is up 0.09 percent to 5,002.33 points
- The Dow Jones falls 0.04 percent
- The Nasdaq Composite rises 0.33 percent
On Friday, the S&P 500 index closed just below the 5,000-point milestone, after a day of little movement in the market. It barely tipped over during the trading day, but fell again before the stock market closed.
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– On the surface there is no difference between 5000 and 4999, but these large round numbers have psychological meaning for investors, says Ryan Detrick, chief market strategist for the Carson Group, to CNBC.
The price of oil rose significantly on Thursday and has remained at more or less the same price through Friday. At the time of writing, a barrel of North Sea oil (burnt spot) is trading for 81.61 dollars.
Mixed from Pepsi
Soft drink giant PepsiCo and cloud service Cloudflare are among the companies that have presented results on Friday.
The former fell in pre-trade after reporting net sales of $27.85 billion in the fourth quarter, down from $27.996 billion in the same period a year earlier.
At the same time, it was above expectations, which stood at 58.4 billion, according to CNBC.
– We are satisfied with our results for 2023, says chairman and CEO Ramon Laguarta in a comment.
He believes the company has managed to navigate a year of high prices which was characterized by volatility in the markets, geopolitical tensions and international conflicts.
PepsiCo expects organic growth of between 4 and 8 percent in 2024 and has announced a 7 percent increase in annual dividends.
The share falls 2.54 percent from the start.
Sky share to air
The cloud service Cloudflare has taken off after delivering better results than expected.
Shortly before opening in the USA, the share rises more than 24 per cent in pre-trade.
The company announced a turnover of 362.5 million dollars in the past quarter, a growth of a whopping 32 per cent.
Cloudflare describes the quarter as “exceptionally strong”, but still expects that revenue in the first quarter will rise to between 372.5 and 373.5 million dollars.
The share shoots up 23.97 percent.
Flat on European exchanges
On the stock exchanges in Europe, it is flat shortly before the opening in the USA.
The leading indices in the Asia-Pacific region had mixed results in the morning hours.
The Hong Kong stock market fell because there are no “further positive policy measures from the mainland and no revenue from the Stock Connect program,” which links the markets in Hong Kong and mainland China, Bloomberg wrote.
2024-02-09 14:31:56
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