NEW YORK (dpa-AFX) – Driven by the good reporting season, the latest record hunt on the US stock exchanges continued on Tuesday. After a seven-week dry spell, it now also entered the technology-heavy Nasdaq 100 , which rose to 15,710 points ahead of a group of quarterly figures from large US tech companies. In general, however, the momentum in the New York indices weakened over the course of the year.
The Nasdaq 100 recently gained 0.36 percent to 15,570.01 points. The indices, which are more focused on standard stocks, achieved new records: The Dow Jones Industrial moved close to the 35,900 point mark in early trading. Most recently it only increased slightly by 0.12 percent to 35,785.76 points. The market-wide S&P 500 gained 0.27 percent on 4578.59 points.
The rise in the Nasdaq 100 was led by a sustained record rally at the chip company Nvidia, whose shares temporarily exceeded the $ 250 mark for the first time. The price recently increased by around seven percent. Tesla was also able to continue its rally from the previous day with a run up to the $ 1,100 mark. But then profit-taking began, and most recently the price slipped half a percent into the red.
The corporate reporting season is well underway – and stockbrokers noted that it has delivered more good news than bad news so far. As a result, the inflation and growth worries that had recently dominated investors receded somewhat into the background. According to the Bloomberg news agency, more than 80 percent of the companies reporting so far from the S&P 500 index have presented better results than expected.
The day before the post-trading hours there had already been the numbers from Facebook, but they did not go down well with investors: The price hit the minus 4.6 percent. In the third quarter, the group missed the analysts’ expectations in terms of sales. It didn’t help that $ 50 billion in share buybacks were announced.
The investors in the UPS parcel service fared significantly better, as strong demand in all segments resulted in a surprisingly strong jump in profit. The share certificates of the logistics company, who is also becoming somewhat more optimistic for the current year as a whole, advanced by 7.2 percent. In the meantime they have reached a record level.
With General Electric, a US industrial icon also increased its annual targets after a better-than-expected third quarter. The price benefited from this with an increase of 2.1 percent. At times it hit the $ 110 mark, its highest level since mid-June.
At 3M, however, investors reacted cautiously to the fact that the conglomerate increased its forecast for the year after another strong quarter. The shareholders of the defense and aviation company Lockheed Martin, on the other hand, had to accept a price slide of almost 13 percent. The company expects sales to decline in 2022.
Last but not least, an abandoned takeover project caused movement. The investors of the betting company Draftkings reacted with relief that a final offer for the British competitor Entain was not made. The Draftkings course increased by 4.1 percent.
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