[ad_1]
NEW YORK, Oct 26 (Reuters) - Wall Street has taken off Thursday, powered by Microsoft that helped the Nasdaq to bounce back and register his biggest gain since March 26, after it had suffered the day before its biggest loss since 2011 and to have entered the correction phase. The Dow and the S & P-500 have returned to the territory positive for the whole year. The stock market also benefited from cheap buybacks after Wednesday's storm, which erased the annual gains of Dow and the S & P and who returned for the Nasdaq to find themselves in phase of pure and simple correction. The Dow Jones Index .DJI gained 401.13 points (1.63%) 24,984.55 points. The S & P-500 .SPX, wider, took 49.47 points (1.86%) to 2,705.57 points. The Nasdaq Composite .IXIC has advanced from 214.60 points (3.02%) to 7,323 points. "It's a rebound from an oversold situation in somehow, "said Robert Pavlik (SlateStone Wealth)." There is perhaps also redemptions of overdrafts, "he adds. He observed that volumes were lighter in phase bullish than in bearish period, which suggests that recent releases may re-emerge. The volume was 9.2 billion shares traded against 9.6 billion the day before and 11.44 billion at retirement of October 11th. Microsoft MSFT.O took 5.8% after beating Wednesday the consensus both on its turnover and on its profit. He contributed well, as did the specialists of the semiconductors, up by 3.32% in the technology index .SPLRCT, second sectoral increase of the day. Several companies, from the most diverse sectors, have published solid results, soothing some of the investors who found that the "season" of the results had had a shy start to then become frankly disappointing. Adding to this the repercussions on the profits of the tariffs and the slowdown in Chinese growth, the spike in Italian bond yields and the the next US mid-term elections, we needed no more for Wall Street to have a very bad day yesterday. Decommissions lowered the valuation of the S & P-500 to a PER of 15.3, the lowest in two and a half years, compared 15.8, according to Refinitiv data. Analysts have re-evaluated their growth forecast of third quarter profits, 21.8% in the last 10 days at 23.6%. On the other hand, that of the fourth quarter was brought back from 19.9% to 19.4%, show Refinitiv data. VALUES Driven by high tech values, and especially by Xilinx XLNX.O, which jumped 15% on quarterly strong, the semiconductor index of the Philadephie Stock Exchange .SOX wins a 2.34% gain. Three heavyweights of high tech have published their accounts Quarterly after Closing, GOOGL.O Alphabet, Amazon.com AMZN.O and Intel INTC.O, with various fortunes. Alphabet broke consensus at profit level but its action fell sharply after the stock market because the figure at contrary has proved to be below expectations. Conversely, Intel, which also broke the consensus, rose more than 6% after the stock market, while Amazon suffered the fate of Alphabet, giving up 6% in after-market, because its quarterly turnover missed the consensus and its projections for the end of year holidays are also not to the height of badysts' expectations. AMD AMD.O, Intel's competitor, dropped 15.4% due to its forecasts considered mediocre. Elsewhere, Ford F.N, who is struggling in China, has up 9.9%, posting a lower profit on Wednesday but better than expected in the third quarter. INDICATORS OF THE DAY Weekly jobless claims increased at United States during the week to October 20, to 215,000 against 210,000 the previous week but the number of people receiving regular benefits fell to its lowest level for more than 45 years. New orders for industrial capital goods fell in September in the US for the second month consecutive, suggesting a continuation of the moderation of capital expenditure in the third quarter. The promises of sales of old homes in the United States showed an unexpected rise in September compared to August, a good point for the troubled real estate market, but they fall in annual rate for the ninth month consecutive. The US trade deficit widened in September, the increase in imports obscuring the rebound in exports, show published statistics Thursday by the Commerce Department. THE SESSION IN EUROPE European stock markets ended up higher for the most Thursday, the rebound started from the opening having confirmed with a positive opening of Wall Street and despite variously appreciated announcements from the Central Bank European. The Paris CAC 40.FCHI rebounded 1.6% and the Dax German .GDAXI took over 1.03% but the British Footsie .FTSE could not do better than + 0.59% and the Swiss SMI .SSMI has yielded 0.21%. The Milan Stock Exchange .FBMIB took 1.78% and that of Madrid .IBEX 1.24%. The EuroStoxx 50 .STOXX50E index finished higher 1.09%, FTSEurofirst 300 .FTEU3 0.5% and Stoxx 600 .STOXX of 0.51%, after six consecutive sessions of decline. RATE The rise of Wall Street has allowed returns to rise from a three-week low even though the nervousness caused by the instability of the stock market appears to be a element of support for the bond market. 10-year yield US10YT = RR fell to 3.09% Wednesday, the lowest since October 3, before going back to 3.14% Thursday. The output has experienced a technical resistance around 3.09% to 3.13%, a seven-year high recorded in May that he erased on October 9, reaching 3.26%. The award of 31 billion bonds at seven years, last tranche of a $ 108 billion refinancing this week resulted in only weak demand from direct underwriters, anonymous contributors among whom some central banks and, it is believed, China. They had similarly made discreet Wednesday and Tuesday, when the Treasury had awarded 39 billion five years and 38 billion notes at two years respectively. EXCHANGE The euro has hardly benefited from the latest declarations of European Central Bank (ECB), on the occasion of its meeting Monetary Policy. The ECB left its monetary policy unchanged Thursday and reaffirmed its intention to end its program outstanding credit and market support after December despite the deterioration in growth prospects and turbulence related to Italian fiscal policy. The euro, which was first raised immediately after ECB announces, "when president Mario Draghi highlighted the risks around Italy and Brexit ", says John Doyle (Tempus). The fall in the euro EUR = is the main reason for the dollar rises against a basket of reference currencies .DXY, he observed, adding that the movement has been magnified by the rebound of Wall Street. The euro touched $ 1.135, the lowest since August 16, and was down 18 basis points over the day, while that the dollar index recorded a two-month high of 96.732, an increase of 29 basis points on the opening. OIL Oil prices finished higher on Thursday on the New York market Nymex, aligning with the rise of Wall Street after his defeat the day before. FOLLOW OCTOBER 26: Publication at 12.30 GMT of the first estimate of GDP of the United States in the third quarter (consensus: + 3.3%). Speech by Mario Draghi, President of the Central Bank European Central Bank (ECB), at the National Bank of Belgium at 14:00 GMT. Review of the sovereign rating of Italy by Standard & Poor's in the evening. (Caroline Valetkevitch, Daniel Amy Caren, Karen Brettell, Kate Duguid, Collin Eaton Wilfrid Exbrayat for French service )
Source link
