Home Business Wall Street up slightly after S&P and Dow Jones records. Focus on Tesla and PayPal

Wall Street up slightly after S&P and Dow Jones records. Focus on Tesla and PayPal

by admin
  1. Home ››
  2. News >>
  3. Uncategorized ››


FACEBOOK
TWITTER
LINKEDIN

Wall Street restarts from a week marked by new records and positive news from the corporate front, in the middle of the US quarterly season.

Dow Jones futures are flat with a variation of + 0.04% at 35,570 points; futures on the S&P 500 advance by 0.12% to approximately 4,541, futures on the Nasdaq are + 0.23% to 15,375 points.

The Dow Jones gained more than 1% last week closing last Friday at a new all-time high; the S&P 500 advanced 1.7% on a weekly basis, returning its third consecutive positive week and also closing last Friday at record levels.

It should be noted that, according to the calculations by Refinitiv, of the 117 companies listed on the S&P 500 that have reported the financial statements so far, 84% have released better than expected numbers. Overall, S&P companies are expected to have seen average profit growth of + 35% in the third quarter of the year.

Great expectations for the new roundup of financial statements that will be announced this week:

the quarterly reports of Facebook, Alphabet, Microsoft, Amazon and Apple are scheduled. Also awaited for the results of the blue chips Caterpillar, Coca-Cola, Boeing and McDonald’s.

The three major US equity indices are preparing to end October with gains: the Dow Jones and the S&P 500 have risen more than 5% since the beginning of the month, while the Nasdaq Composite is up 4.4%.

The energy sector was the object of the buy, with a jump in the relative sub-index up by 11% in the month; industrials, property market stocks and financials also performed very well, all up since the beginning of October by at least + 7%.

See also  BTP in recovery from post ECB sell-off but Lagarde, Powell & Co still in the sights. Real rates plummeting, inflation scares the whole world

Tesla always in the spotlight after the stock closed at a new record close in trading last Friday. Among other things, according to analysts at Morgan Stanley, the rally is not over, so much so that forecasts are for another jump equal to + 30%, towards a target price revised upwards from $ 900 to $ 1,200.

Focus also on PayPal, which announced on its website that “it is not pursuing a Pinterest acquisition at the moment”.

Pinterest’s stock had flown last week, in the wake of rumors reported by Bloomberg that PayPal could have bought the social media group. PayPal’s quotes jump 6%, while Pinterest sinks 12%.

0 comment
0

You may also like

Leave a Comment

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

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy