[ad_1]
Wall Street ended higher on Friday, managing to climb into the green despite a sharp decline in financial stocks in the wake of mixed results of the three major banks JPMorgan Chase, Citigroup and Wells Fargo.
According to the final results at the close, the Nasdaq, with a strong technological component, took 0.03% to 7,825.98 points, to a new record.
The Dow Jones Industrial Average index advanced by 0.38% to 25,019, 41 points, above the symbolic mark of 25,000 points for the first time since mid-June.
The expanded S & P 500 index rose by 0.11% to 2,801.31 points.
On the week, the Dow Jones took 2.30%, the Nasdaq 1.79% and the S & P 500 1.50%.
On the unofficial launch of the earnings season Friday, three of the largest US banks announced mixed results for Q2, very good for JPMorgan Chase, more mixed for Ci tigroup and frankly bad for Wells Fargo
These results had the effect of pushing back the three banks on Wall Street, JPMorgan Chase losing 0.46%, Citigroup 2.20% and Wells Fargo 1.20%. [19659002] For JPMorgan Chase "It's a little surprising, the numbers are very good," said Jack Ablin of Cresset Wealth Advisors.
"Investors may be looking at the (banks) overall results and the sector is not progressing as fast as it expected and may not be as robust as it seemed when JPMorgan announced its results first, "he added.
More generally according to him, "the investors are now less focused on the trade war and focus on the results of future companies" which are expected to be robust in the coming weeks.
The session was also marked by the crossing of symbolic threshold of 2,800 points on the i ndice S & P 500, under which it evolved since early February. This is a symbolic level very important in the opinion of several badysts.
"Many brokers think it can open the door to a new record" on the broad index, said Patrick O'Hare Briefing
On the economic indicators front, prices of imported products in the United States fell by 0.4% in June, as a result of a sharp decline in fuel oil prices, according to data from the US Department of Agriculture. Work published Friday.
The bond market was easing: the yield on the US 10-year debt fell to 2.829%, against 2.845% Thursday at the close, and the 30-year declined to 2.927%, against 2.946% to the previous closing
[ad_2]
Source link
