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Wall Street finishes up despite bank results ©
AFP / File
/ Bryan R. Smith
Wall Street ended higher on Friday, managing to climb into the green despite a sharp decline in financials in the wake of mixed results from the three major banks JPMorgan Chase, Citigroup and Wells Fargo. [19659003] According to final closing results, the technology-rich Nasdaq rose 0.03% to 7,825.98 points to a new record.
The Dow Jones Industrial Average index advanced 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 0.11% to 2,801.31 points.
Over the week, the Dow Jones took 2.30%, the Nasdaq 1.79% and the S & P 500 1.50%.
On the occasion of the unofficial launch of the earnings season on Friday, three of the largest US banks announced mixed results for the second quarter, very good for JPMor gan Chase, more mixed for Citigroup 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%.
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 results (of the banks) as a whole and the sector is not growing as fast as they expected and may not be as robust as it seemed when JPMorgan announced its results first, "he added.
Record
More generally according to him," investors are now less focused on the trade war and focus on business results to come "which are expected to be robust in the coming weeks.
The session was also marked by the crossing of the symbolic threshold of 2,800 points on the S & P 500 index, under which it had been evolving since early February. This is a very important threshold in the opinion of several badysts.
"Many brokers think it can pave the way for a new record" on the broad index, said Patrick O'Hare of 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 Department of Labor published on 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 years declined to 2.927%, against 2.946% at the previous
Among the values of the day, the pharmaceutical group Johnson & Johnson (J & J) fell 1.43% to 125.93 dollars after being sentenced Thursday to pay 4.69 billion dollars in damages in a lawsuit brought by 22 women and their families, who were accused of talcum ven by the group to have caused the cancers of which they were victims.
the telecom giant AT & T fell (-1.74% to 31.67 dollars) after the US Department of Justice appealed Thursday of Judgment Authorizing Merger with Time Warner Media Group.
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14/07/2018 07:24:17 –
New York (AFP) –
© 2018 AFP
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