(New York) The New York Stock Exchange was up on Wednesday, after seven straight positive sessions, as the earnings season is in full swing.
By 10:14 a.m. EST, the Dow Jones Index was up 0.72%, the tech-heavy NASDAQ was up 0.25%, and the broader S
The day before, the Dow Jones index had risen 1.06% to 34,951.93 points. NASDAQ and the Broad S Index
This start in the green on Wednesday was despite the disappointment brought by the results of Goldman Sachs. After starting in decline, its title gained 1.54%.
U.S. merchant banking net profit fell 62% in the second quarter to $1.1 billion, again impacted by a lack of M&A deals as well as lower activity in asset management. ‘assets.
Its earnings per share amounted to 3.08 dollars for the quarter, against 7.73 dollars a year earlier. Analysts had expected $3.10.
Several regional banks, closely watched after the March banking crisis, reported mixed results. Initially in decline, Western Alliance jumped 2.25%, as its profit fell short of expectations, while deposit maintenance was better than expected.
Overall, the indices looked set for another beneficial session, but according to Briefing.com analyst Patrick O’Hare, “in the short term, the market is overbought especially in mega-caps and a pullback is going to be in order.”
For B. Riley Wealth Management analyst Art Hogan, the allure of stocks “defied skeptics and continued to rally this year in the face of banking meltdowns, continued fears of a recession and weaker earnings forecasts.” ‘companies’.
Earnings season is off to a good start so far, with 82% of S
On Wednesday, just after the closing of the stock market, we expect in particular the results of Tesla (1.12%) and Netflix (-0.36%). Both stocks have been among the favorites of the year, with Tesla up 12% this month and 138% year-to-date. The title of Netflix gained 7.8% in July and 61% this year.
United Airlines (0.24%) and IBM (0.62%) are also on the program.
The title of Microsoft fell back slightly (-0.45%), after having reached a new record the day before at 359.49 dollars, or a market capitalization of 2700 billion dollars, the second after Apple.
The software giant announced on Wednesday morning that it was extending the deadline for the acquisition of video game publisher Activision Blizzard to October 18. This additional time is supposed to allow them to overcome the last regulatory obstacles, in particular in the United Kingdom. Activision stock was down 0.56%.
Elsewhere on the stock market, online car retailer Carvana jumped nearly 29% as the struggling group reached a deal with creditors to reduce its debt load by $1.2 billion.
On the indicator side, housing starts fell by 8% in June, a disappointing performance.
In the bond market, yields on 10-year Treasury bills were stable at 3.78%.