Wall Street up, with the Dow Jones heading a new record. After 4 pm Italian time, the Dow Jones advanced by 0.19% to 35,821; the S&P rises by 0.49% to 4,588 points, while the Nasdaq is + 0.70% to 15,333 points.
Protagonist among the stocks Facebook, which retraces by 2% after the social network managed by Mark Zuckerberg has announced that it has concluded the third quarter of the year with better than expected profits. However, Facebook has disappointed the outlook on turnover and the number of monthly active users.
Bakkt heads back, announcing that it has signed a partnership with credit card giant Mastercard. The stock drops by more than 9% after leaping by more than 234% yesterday following news of the deal with Mastercard.
The result of a spin off of the Intercontinental Exchange, Bakkt is a digital asset platform, which landed on Wall Street last week via SPAC. The agreement between the two companies is aimed at allowing banks and merchants active on the Mastercard circuit to integrate the offer of services related to the crypto world into their products.
It should be noted that yesterday the Dow Jones Industrial Average and the S&P 500 still closed at their all-time highs, with the S&P 500 (up 0.5%) receiving an assist from Tesla’s + 12% rally. Quotations are also advancing today, up by more than 4%. In yesterday’s session, the giant electric car maker founded and operated by Elon Musk hit the $ 1 trillion market cap for the first time in its history.
After the end of today’s session, Alphabet and Microsoft will report results, as well as Twitter, Advanced Micro Devices and Robinhood. For Alphabet, analysts expect a jump in earnings (relative to the third quarter) equal to + 43% on an annual basis.
On the macroeconomic front, the S&P CoreLogic Case-Shiller indices for house prices in the United States were released.
The numbers showed that, in August, the rate of growth on an annual basis in prices was equal to + 19.8%, as in the month of July: it is the first time since the beginning of 2020 that the growth in prices it has not picked up the pace on an annual basis.
The index referring to the prices of the 10 main metropolitan areas of the United States advanced specifically by 18.6%, compared to + 19.2% in July, while the one referring to the 20 main metropolitan areas showed progress in the 19.7%, against + 20% the previous month. The prices of all the cities considered, however, stood at all-time records.