Wall Street ends at new highs thanks to good results from JPMorgan (AFP /)
According to final results, the index Featured Dow Jones Industrial Average gained 134.29 points 18,506.41 points beating a closing record for the third straight session and the Nasdaq, dominated by technology, 28.33 points 5034.06 points. The broader S & amp; P 500 was up 11.32 points, or 0.53%, to 2163.75 points ending it for the fourth session following an unprecedented level
“. three elements gave momentum, “said Art Hogan, Wunderlich Securities. “First, and most importantly, successful businesses, primarily JPMorgan.”
Member of Dow Jones, the bank took 1.52% to 64.12 dollars after ringing favorably the start of the quarterly results of the US financial sector with strong results, including a net profit almost unchanged despite the turmoil in financial markets.
These figures are all the more reassuring that “there was concern about the sector, given the low level of interest rates,” said Jack Ablin, BMO Private Bank.
the Federal Reserve (Fed) has refrained from the beginning of the year to tighten monetary policy, maintaining support for the overall economy, but penalizes the banking sector.
Second notable element, the stock market has also been “stimulated the economic indicators “in the United States,” including a higher than expected increase in producer prices, “noted Mr. Hogan, seeing it as” good news, because inflation needs to accelerate. “
Another encouraging statistic, the weekly jobless have only stagnate, while economists were expecting a rise.
Finally, the last factor encouraging, Wall Street, as other major exchanges, reacted without apparent disappointment to maintain the condition of the rate of the Bank of England (BoE), although many investors were expecting measures to address the consequences of the British vote of 23 in June in favor of leaving the European Union (EU).
“I think it’s not a big disappointment as the British pound has fallen so much that they do not real reason to lower rates in the immediate … and they are able to act in the future, “said Mr. Ablin.
Mr. Hogan noted for his part that the immobility of the BoE, which most officials believe also act in August, had benefited the British pound away from the dollar and that this had in turn stand to benefit the US multinationals.
– Line comes in –
among the notable results from JPMorgan, Delta Air Lines took 3.59% to 40.98 dollars after reporting to a higher than expected profit, although its revenue slightly disappointed.
Yum! Brands, parent of fast food chains KFC, Pizza Hut and Taco Bell, gained 2.95% to 88.27 dollars, after a sharp rise in quarterly net profit.
The railway company CSX rose 2.98% to 29.05 dollars, without suffering a sharp decline in sales and net profit in the last quarter.
however, the advertising group Omnicom lost 2, 17% to 83.12 dollars after quarterly results lackluster, though its performance was slightly affected in the UK by the “Brexit”.
Out of the results, the Japanese social network Line jumped 26.61% to 41.58 dollars for her first on Wall Street, before a parallel introduction at the Tokyo Stock Exchange.
the specialist for Monsanto GM gained 3.06% to 104 22 dollars after its German rival Bayer had raised its offer on press rumors background as a merger of agrochemical activities between US and BASF.
the bond market fell back frankly. Around 8:30 p.m. EDT, the yield on 10-year Treasury rose to 1.538% against 1.469% Wednesday night, and that good for 30 years at 2.256% against 2.171% yesterday.
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