The New York Stock Exchange increases, driven by strong corporate results

The New York Stock Exchange started the session in the green, driven by the solid results of several listed companies and reassuring indicators for the US economy.

At around 13:55 GMT, the Dow Jones Industrial Average was up 0.63% at 33,942.21 points. The Nasdaq, which sank on Wednesday, rose 1.07% to 14,006.68 points and the S&P 500 widened index gained 0.67% to 4,152.45 points.

“The various sectors of the American stock market are progressing this morning, this increase being fueled by an avalanche of results and economic data”, note the experts of Charles Schwab.

After JPMorgan Chase, Goldman Sachs and Wells Fargo on Wednesday, Bank of America and Citigroup delivered their quarterly profits and sales before Wall Street opened.

Bank of America’s net income has doubled and Citigroup’s has tripled thanks to the reduction in reserves set aside by the two banks during the pandemic.

Citigroup shares rose 0.27% while that of Bank of America fell 3.23%.

Unemployment at its lowest in the United States

BlackRock (+ 2.32%), the world’s leading asset manager, for its part exceeded 9 trillion in assets under management in the first quarter and reported results overall above expectations.

For its part, the American giant of sodas and snacks PepsiCo (+ 0.23%) posted a sharp increase in revenues between January and March, benefiting in particular from the good sales of its brands of crisps.

The results of the airline company Delta Airlines (-2.74%) were again affected by the consequences of the Covid-19 pandemic, but the group was optimistic about the resumption of air traffic thanks to the campaigns vaccination.

Among the indicators, new jobless claims in the United States fell to the lowest since the start of the economic crisis in March 2020, falling below the 600,000 mark, according to data from the Department of Labor.

Retail sales in the country rebounded much more than expected in March (+ 9.8%), boosted by the distribution of government checks to households, the easing of restrictions against Covid-19 and rising temperatures , announced the Commerce Department.

As for industrial production, it picked up slightly in March (+ 1.4%), driven by mining production after being penalized by the polar cold wave in February, according to an index from the Federal Reserve. However, the general level remains lower than before the crisis.

Manufacturing activity in the New York City and Philadelphia area each hit a multi-year high, data showed Thursday.

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