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Stock rally to close higher on earnings as deal reached to end government closure




US .. the shares stopped higher Friday, with the Dow Jones Industrial Average, which got a fifth week in a row, as investors focused on a large positive image that was painted in earnings season so far.

An agreement reached by President Donald Trump and Congress Democrats to at least restore the government at least had little influence on stocks.

How did the goals go?

The Dow

DJIA, + 0.75%

climbed 183.96 points, or 0.8%, finally at 24.737.20. The Blue-chip index increased by 0.1[ads1]% for the week, expanding winnings for a fifth week in a row. S&P 500

SPX, + 0.85%

increased 22.43 points, or 0.9% to 2,664.76, down 0.2% a week. Nasdaq Composite

+ 1.9%

climbed 91.40 points, or 1.3% to 7.164.86, for a weekly growth of 0.1%.

What drove the market?

Optimism over what has been so far a positive earnings season drove stocks higher so investors can see past divisions in Washington and concerns over global growth.

Trump and Democratic congressmen came to a surprise to restore the government until February 15, for now a 35-day partial closure ends, while lawmakers continue to discuss funding for southern border expansion. The president said the agreement would ensure the rapid payment of back pay to federal workers, removing one of the key concerns investors had about the closure¡¯s impact on the economy. Stocks showed little response to the announcement and maintained gains in afternoon trading.

Read: The Government's closure ends after being the longest on record – by a large margin

Potentially more important than the positive fourth quarters released this week were a number of encouraging conference conferences, where The company's managers expressed optimism for their businesses in 2019. A good example is Western Digital Corp.

WDC, + 7.52%

shares that fell in retrospect for revenue and earnings are missing, but rallied more than 6% Friday after management said the expected revenue is rising in the second half of 2019.

Shares were also bolstered by expectations that the Federal Reserve will take a much more bold stance in 2019 than previously thought, with the Wall Street Journal reporting that Fed officials are close to a decision to end the shrinkage of the central bank's balance early.

At the same time, China's central bank said it will release another $ 37 billion in extra money for banks to stimulate growth and create a bond swap that the bank says will help boost lending in the world's second largest economy.

What were analysts saying?

"There was little reaction to the deal because all we know is that the government is opening for three weeks. The nitty-gritty details are going to be drafted over the three weeks and the market could move on with that news," said JJ Kinahan. Market Democrat in TD Ameritrade

The stock market's strong performance Friday and during January show that "the economic system is more important than the political system", George Mateyo, KeyBank's chief investment officer, told MarketWatch.

Mateyo claimed that While the trade distance between the United States and China will increase short-term volatility, he sees investors as optimistic that it is in the interest of all parties involved to come to deals that reduce tensions.

What Stocks In Focus

Intel Corp. [19659023] INTC, -5.47%

fell 5.5% after breaking the ranks with a positive technology revenue this week, sending a revenue butter and a weak view .

[19659000] Starbucks Corp.

SBUX, + 3.63%

shares rose 3.6% after a earnings blow and management optimism around their Chinese business.

[19659000] DR Horton

DHI, -2.61%

shares fell 2.6% after the homeowner missed earnings and sales order expectations, even though taxable first quarter 2019 surpassed estimates for revenues and homes closed.

Colgate-Palmolive Co. .

-0.58%

went 0.6% after consumer products the company reported the fourth quarter revenue above expectations, but lost revenue revenue.

AbbVie

ABBV, -6.22%

shares declined by 6.2% after the company reported fourth-quarter results that were not consistent with Wall Street's revenue and profits.

How did other markets trade?

Shares climbed in Asia, driven by gains for tech stocks. Hong Kong's Hang Seng Index

HSI, [1.65%] + 1.65%

increased 1.4%. European stocks also rose with Stoxx Europe

SXXP, + 0.61%

added 0.6%.

Raw prices achieved while gold futures

GCG9, + 1.77%

peaked $ 1300 a ounce for the first time since June and the ICE US dollar index

DXY, -0.78%

a measure of the US currency against a basket of six major rivals, eased 0.9%.

-Barbara Kollmeyer contributed to this report

Provides critical information for the US trading day. Subscribe to MarketWatch's free need to know newsletters. Register here.



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