© Reuters. WALL STREET ENDS UP
by Caroline Valetkevitch
NEW YORK (Reuters) – The New York stock Exchange ended higher Monday, supported by the financial and the industrial, as investors ‘ attention turns towards a new season of results, abandoning, at least temporarily, the business case.
The Dow Jones has gained 320,11 points to 1.31%, 24.776,59.
The Standard & Poor’s 500, wider, rose 24.35 points, 0.88 percent, to 2.784,18 and the Nasdaq Composite has taken 67,81 points, to 0.88% also, 7.756,20.
With a gain of 2.32%, the financial have made the best sectoral performance of the S&P-500, before the industrial (+1,81%) and energy (+1,48%). They have their biggest percentage increase since more than three months.
JPMorgan (NYSE:JPM) has gained 3,09%, the second highest increase in the Dow, Citigroup (NYSE:C) has taken 2,68% and Wells Fargo (NYSE:WFC) of 1.57%. The three banks will on Friday kick off the results season in the second quarter.
A stronger economy and programs of stock repurchases many more have worn the bank, ” says Bucky Hellwig, senior vice president of BB&T Wealth Management.
“The market is anticipating a very good season of results, and does not take account of trade tensions,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.
The United States and China apply each other since Friday of customs duties on products representing a total of $ 34 billion. But the strong monthly employment figures in the United States and the hope that the entry into force of these tariffs does not result in a trade war world have supported the equity markets Friday.
According to a study by Bank of America (NYSE:BAC) Merrill Lynch Global Research, the earnings per share of companies in the S&P-500 have been revised upward to 2018, due to better than expected results for the first quarter, the rising price of oil and u.s. economic growth stronger than expected.
The earnings per share of companies in this index are expected to increase by 20.7% on average over the quarter to June, according to Thomson Reuters I/B/E/S. given that most of the companies generally analysts ‘ expectations, this percentage is expected to increase further.
CATERPILLAR TAKES 4,10%, TWITTER LOOSE OF 5.38%
The large-value exporters have benefited from the easing of trade tensions. Caterpillar (NYSE:CAT) , has awarded 4,10%, largest increase in the Dow. Boeing (NYSE:BA) has taken of 2.17%.
Tesla (NASDAQ:TSLA) has earned of 3.11%.The electric car-maker has increased prices of its passenger sedans and Model X and Model S in China, thus becoming one of the first manufacturers to raise its rates in reaction to the trade irritants between Beijing and Washington, according to the website information automotive Electrek.
Groupon has taken 10,78% in trade fed, after a site Recode, saying that the specialist in online trading might be for sale.
Conversely, Twitter (NYSE:TWTR) has let go of 5.38%, having lost more than 9% in the session, following a Washington Post article referring to suspensions massive accounts. The social network has reduced its losses after its chief financial officer said that they would not impact on the number of its active users.
Three of the 11 sub-funds of the S&P-500 ended in the red, the services to communities showing the largest decline (-3,13%), ahead of telecom (-1,42%) and construction (-0,47%).
(With Shruhi Shankar; Catherine Mallebay-Vacqueur for the French service)
