Strong revival on Wall Street Financial

The Dow-Jones index finished 4.5 percent higher at 27,090.86 points. The broad S&P 500 won 4.2 percent to 3130.12 points and technology grant Nasdaq gained 3.8 percent on 9018.09 points.

The positive sentiment follows Joe Biden’s victory in the Democratic primaries in nine of the fourteen states during Super Tuesday. That also generated enthusiasm on Wall Street. The financial markets also processed a better-than-expected job report from wage slip processor ADP. On Tuesday, the Federal Reserve unexpectedly lowered interest rates to mitigate the economic damage of the corona virus.

Campbell Soup

There was a lot of company news. Campbell Soup won over 10 percent after opening the books. The food manufacturer was able to eliminate part of its debt in the past period and recorded a higher operating profit. Clothing brand Abercrombie & Fitch did better than expected with its comparable sales and rose 9 percent. In addition, software company Oracle went out more than 3 percent higher, after a media report that the company plans to cut up to 1300 jobs in Europe.

General Electric (GE) finished almost 1 percent in the plus, despite a less positive message. The industry group announced that the corona virus is likely to weigh on the first quarter earnings. In addition, truck and bus builder Navistar (minus 0.5 percent) reported that net profit was lower in the last quarter than in the same quarter a year earlier.

The euro was worth $ 1,1134 against $ 1,1126 at the close of the European stock markets earlier in the day. A barrel of American oil rose a fraction to $ 47.19. Brent oil cost 0.6 percent less at $ 51.55 per barrel.

–