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The three leading indices on Wall Street had solid gains on the second trading day of the week.
This is how it ended at closing time:
- The broad S&P 500 index rose 2.8 percent.
- The industry-heavy Dow Jones index rose 2.4 percent.
- The technology index Nasdaq rose 3.1 percent.
The first trading day of the week started in the positive, but turned down and closed with a decline. Then the fall was brought in on Tuesday.
A number of American companies presented quarterly reports on Tuesday, and the results were better than feared in the second quarter, writes CNBC. The market has feared that the rising inflation, which is higher than in several decades, would slow down the companies’ earnings in the last quarter.
Result slide
The Twitter share rose approximately three percent after a court announced an accelerated case against Elon Musk in October this year.
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Arms manufacturer Lockheed Martin fell 3.9 percent in pre-trade after the company delivered disappointing quarterly results. The decline was later recovered.
Health giant Johnson & Johnson rose 0.8 percent in pre-trade after the company delivered earnings per share above analysts’ expectations.
The share had an upswing and rose 1.3 per cent, before it nevertheless fell by a good two per cent.
Economists see an increased likelihood of a recession in the next 12 months following the latest interest rate hikes by the US central bank. Now the spotlight is on how companies adapt to the changes in the economy, according to the Wall Street Journal.
– If business begins to scale back its investments, for me it is the final nail in the coffin, says Luca Polini, chief strategist at Pictet Asset Management, to the Wall Street Journal.
Awaiting customer flight
The streaming giant Netflix publishes its figures after the stock exchange closes at 10 p.m. Norwegian time on Tuesday. The company announced earlier this year that it expects a drop in subscribers for the second quarter of two million.
Netflix has taken a beating on the stock exchange in the past year, and the stock has fallen close to 70 percent this year. The streaming giant, which was one of the winners of the pandemic, previously had a dominant market position in the streaming industry, but has recently received increasingly strong competition from, among others, Amazon Prime, Disney Plus and HBO.
The Netflix share rose around one per cent at the opening, but throughout the trading day there was a marked increase, and the share ended up more than four per cent.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using a link, which leads directly to our pages. Copying or other use of all or part of the content may only take place with written permission or as permitted by law. For additional terms se her.
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