New York equities: Indices up again – Focus on numbers again | 10/28/21

NEW YORK (awp international) – Wall Street is back in gear after the previous day’s losses. The leading index Dow Jones Industrial advanced on Thursday by 0.42 percent towards the end of the first hour of trading. Before the quarterly figures of the tech giants Apple and Amazon, which were expected after the trading hours, he set a course of 35,638.12 points to his latest record high, which is just under 35,893 points.

“Market participants are again looking at the full horn of company reports and quarterly figures,” commented market expert Andreas Lipkow from Comdirect – in many cases with good news. In the meantime, the US economy has lost significant momentum recently due to supply bottlenecks in industry. According to stockbrokers, this could ease some of the monetary pressure that the US Federal Reserve is under due to high inflation. Your interest rate decision is on the agenda for the coming week.

The market-wide S&P 500 rose by 0.63 percent to 4580.32 meters. The technology-heavy Nasdaq 100 advanced 0.66 percent to 15,702.07 points, which is the fourth positive trading day in a row. In contrast to his index colleagues, he was able to slightly increase his record again.

Apple and Amazon reported after hours on the last quarter, especially Apple received advance praise with a price increase of 2.1 percent and the highest level in seven weeks. It is eagerly awaited to see whether the iPhone manufacturer will continue to get through the global chip bottlenecks well after a strong previous quarter. The Apple supply chain is traditionally well organized. Amazon rose more moderately by 0.6 percent before the numbers.

Read more:  Tesla shares restore optimism to investors by recording the best weekly performance

The results of two Dow corporations are already known, and there have now been convincing reports. For the pharmaceutical company Merck & Co, the third quarter was better than expected, with shares advancing 4.1 percent at the top of the index. The same was true for the construction machinery company Caterpillar, whose businesses were driven by the construction and raw materials boom, in the quarter. Here was a plus of 2.8 percent on the price board.

However, Ford topped everything with a price jump of almost ten percent: The carmaker performed better than expected in the third quarter despite the global chip crisis. The resulting increased profit targets were seen in the market as a bigger positive surprise. UBS expert Patrick Hummel spoke of a “big beat” in every respect.

However, there was also a very negative outlier with Ebay: the shares slipped 8.4 percent due to a disappointing quarterly report. For the Christmas quarter, the group promised slower sales growth. Stockbrokers saw this as a sign that reopened stores have added to the online marketplace./tih/he

– .

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent News

Editor's Pick