Equities New York Outlook: Further records in sight – positive company figures

NEW YORK (dpa-AFX) – Thanks to good quarterly figures from major companies, the US stock markets are likely to continue their record price of the past trading days on Tuesday. The broker IG assessed the Dow Jones around three quarters of an hour before the start of trading with 0.31 percent up at 35 853 points. The tech-heavy Nasdaq 100 was last expected with a premium of 0.53 percent to 15,597 meters.

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The corporate reporting season is now in full swing and has so far delivered more good news than bad, noted a stockbroker. As a result, the inflation and growth worries that had dominated recently faded into the background. According to Bloomberg news agency, more than 80 percent of the companies previously reporting on the S&P 500 index posted better than expected results, despite Citigroup warning that earnings growth could be nearing its peak.

The Facebook shares are among the individual values with a pre-market price increase of 1.1 percent, particularly in the investor focus. In the third quarter, advertising revenues increased by around a third year-on-year. In terms of group sales, however, the operator of social platforms fell short of the analysts’ expectations. The bottom line was that Facebook earned around $ 9.2 billion – a year-on-year increase of 17 percent. The company also announced a $ 50 billion share buyback.

The US parcel service UPS generated strong demand in all segments a surprisingly strong jump in profit in summer. The UPS shares advanced 4.3 percent pre-market.

After another strong quarter, the US conglomerate 3M took a closer look his annual forecast. The turnover of the current year should now grow by 9 to 10 percent compared to the previous year, announced the company known for its yellow Post-It notes. Previously, 3M had assumed an increase of 7 percent in the worst case. In terms of earnings per share (EPS), however, the Management Board became somewhat more pessimistic. The share reacted slightly negatively in the pre-trading period and fell by 0.4 percent.

Siemens rival General Electric (GE) increased its annual targets after a better-than-expected third quarter. The GE papers gained 1.4 percent ./edh/mis

Source: dpa-AFX

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