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U.S. stocks rise as profit season begins

After the largest four-day rise since late July in both the S & P 500 Index and the Nasdaq Composite Index, US equities turned up again on Tuesday, leaving the firm third despite coronavirus delta variants and widespread supply. Chain turmoil reported good quarterly earnings.

What are the major indexes doing?
  • Dow Jones Industrial Average
    DJIA

    It increased by 166.86 points (0.5%) to 35,425.47.

  • S & P 500
    SPX

    Earn 26.45 points, or 0.6% to trade at 4,512.91.

  • Nasdaq Composite Index
    COMP

    At 15,106.05, it increased by 84.24 points, or 0.6%.

The Dow Jones Industrial Average fell 0.1% on Monday, the S & P 500 rose 0.3%, and the Nasdaq Composite rose 0.8%. The S & P 500 and Nasdaq Composite have each had the highest wins in four days since July 23.

What is driving the market?

Investors are watching how high costs of energy and raw materials affect profitability, but the positive background of equities as good corporate returns largely mask concerns about supply chain disruptions. there is.

In the first week, 66% of companies outperformed Wall Street in terms of both revenue and earnings per share, according to the Bank of America. This is well above the historical average of 47%.

Lauren Goodwin, Economist and Portfolio Strategist at New York Life Investments, said:

“Revenue reports to date show that many large U.S. companies are generating higher profitability, despite rising labor costs, thanks to sustained sales growth. I’m looking forward to good performance, “she said. “We pay particular attention to the company’s guidance on the future path and whether rising costs can reduce the company’s rate of return.”

The result came before the opening bell from the Dow component Procter & Gamble Co., Ltd.
PG,
Johnson & Johnson
JNJ

When Travelers Co., Ltd.
TRV,

While streaming the giant Netflix Inc.
NFLX

It will be reported after the store is closed.

US homebuilders began building homes in September with a seasonally adjusted annual rate of 1.56 million homes. 1.6% decrease from the previous month, The US Census Bureau reported on Tuesday. The number of new home permits is seasonally adjusted at an annual rate of 1.59 million, down 7.7% from August. Economists expected housing to begin to emerge at a pace of 1.61 million and building permits to move in at a pace of 1.67 million.

Several Federal Reserve Boards will speak on Tuesday.

Bitcoin BTCUSD Trading near record highs, up 1.2% at 62,694. The first US Bitcoin Futures Exchange Trading Fund from ProShares launched under Ticker BITO on the New York Stock Exchange on Tuesday
BITO,

Change hands for $ 40.98.

look: Two reasons why Bitcoin could grow 170% to $ 168,000 by the end of the year as encrypted ETFs are deployed

Which company is paying attention to?
  • Johnson & Johnson’s share price rose 2.9% after announcing that it was brought in by a pharmaceutical company. Worldwide sales of COVID-19 vaccine are $ 502 million In the third quarter of 2021.

  • Procter & Gamble shares fell 1.6% after consumer goods companies reported first-quarter profits. It fell compared to last yearHowever, while maintaining year-round guidance, it exceeded revenue and sales forecasts.

  • Travelers Cos. Inc. Outperformed the estimate. The insurance company’s share increased by 3.1%.

  • Apple.
    AAPL

    The day after announcing a new Mac personal computer with the company’s custom chips and an upgraded set of AirPods, its market share rose 2.5%. Please fill in the lineup for that holiday..

  • Share Tesla, Inc.
    TSLA

    0.3% drop, threatening to snap 6 days in a row The day before we plan to report the results for the third quarter. Shares have risen 10.8% in the last six sessions, closing at their highest since February 2nd, just 1.5% below the record closing price of $ 883.09 on January 26th.

  • Philip Morris International Inc.
    afternoon

    Equities fell 0.4% after tobacco and tobacco companies reported profits and earnings in the third quarter. Exceeded expectations Due to an increase in overall shipments.

  • Share Southern Kansas City
    KSU

    It fell 0.2% after railroad operators reported third-quarter profits. Below expectations..

What are the other markets doing?
  • 10-Year Government Bond Yield
    BX: TMUBMUSD10Y

    It increased by 3.3 basis points to 1.617%. Yields and debt prices move in opposite directions.

  • ICE USD Index
    DXY,

    Currency readings against the baskets of the six major rivals fell 0.3%.

  • Oil futures pushed higher in volatile trading in U.S. benchmarks
    CL00

    $ 82.14 a barrel, up 0.6%.Gold futures
    GC00

    It rose 0.4% at $ 1,772 an ounce.

  • Stocks Europe 600
    XX: SXXP

    London’s FTSE 100 rose 0.3%, while London’s FTSE 100 rose 0.3%
    UK: UKX

    It increased by 0.2%.

  • Shanghai Composite
    CN: SHCOMP

    Hang Seng Index rose 0.7%
    HK: HSI

    It increased by 1.5% in Hong Kong. Nikkei 225 in Japan
    JP: NIK

    0.7% advanced.

U.S. stocks rise as profit season begins

Source link U.S. stocks rise as profit season begins

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