NEW YORK (awp international) – The US stock exchanges are expected to be friendly on Thursday in the face of a series of positive company reports. The Nasdaq exchange is likely to expand its previous day’s profits. The most important Wall Street index, the Dow Jones Industrial, could also post its first daily gain this week. In the background, worries about the recovery of the global economy are still smoldering due to supply bottlenecks and rising raw material prices.
The broker IG estimated the leading index Dow Jones Industrial around three quarters of an hour before the start of trading 0.9 percent up at 34,675 points. The Nasdaq 100 is expected to be 1.1 percent higher at 14,930 points. On the oil market, prices rose again towards the multi-year highs and are again hovering above 81 US dollars per barrel for the WTI and Brent grades.
After the big bank JPMorgan heralded the start of the reporting season with its quarterly figures the day before, numerous other annual reports were due. From the banking industry, Morgan Stanley, Bank of America (BofA), Wells Fargo and Citigroup presented figures before the start of trading. Markets.com market analyst Neil Wilson said the results were “very strong,” particularly praising the signs of improved credit growth at BofA. Before the trading session, this share went up by 2.6 percent. Morgan Stanley, Citigroup and Wells Fargo also gained pre-IPO, but only by a little more than one percent.
Before the start of trading, UnitedHealth’s paper also went up by 3.1 percent. The health insurer raised its profit forecast for 2021 again after a surprisingly good summer quarter. It is the Dow Group’s third forecast increase this year. In addition to the insurance business, UnitedHealth also offers data analysis in the healthcare sector and various programs for retirees through its subsidiary Optum. UnitedHealth also supports companies with health programs for employees.
The focus is also on the drugstore and pharmacy chain Walgreens Boots Alliance, which 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 retailers in the United States, the group also cited a continued recovery in the UK as reasons. Before the IPO, the shares of Walgreens rose by around one percent.
After the stock market closes, Alcoa could also attract attention, because then the aluminum manufacturer, which was once considered an important indicator for the overall economy, will present its quarterly balance sheet./ck/jha/
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