[ad_1]
US stocks aimed Thursday to extend their winning streak for a third day, while Wall Street was looking to begin the month of November, ending one of its most devastating months in October. Year: on a positive note.
Quarterly results closely followed by the closing of the usual transactions of Apple Inc., the largest publicly traded company in the world in terms of market value, could provide a more sustainable momentum for investors.
Lily: After a rise of 673 points in two days for the Dow, the worst is it for the stock market?
How did the benchmarks behave?
Futures for the Dow Jones Industrial Average
YMZ8, + 0.45%
were up 134 points, or 0.5%, to 25,204, while those in the S & P 500
ESZ8, + 0.38%
11.65 points, or 0.4%, traded above at 2,723. Futures Nasdaq-100
NQZ8, + 0.33%
rose 0.4% to 7,001, up 0.4%.
Wednesday, the Dow
DJIA, + 0.97%
earned 241.12 points, or 1%, at 25,115.76, the first to exceed 25,000 for the blue-chip index since October 23.
The S & P 500 index
SPX, + 1.09%
jumped 29.05 points, or 1.1%, to 2,711.68, climbing two days in a row, which she had not done since her three-game winning streak ended Sept. 20. .
The Nasdaq composite index
COMP + 2.01%
increased by 144.25 points, or 2%, to 7,305.90.
For the month of October, the S & P 500 index lost 6.9%, its largest monthly decline since September 2011, while the Dow Jones lost 5.1%, its strongest monthly decline since January 2016. The technology-heavy Nasdaq was the main benchmark with a 9.2% drop in October for the biggest drop since November 2008.
What motivated the market?
After taking about $ 4 trillion of market capitalization from US companies in October, Apple Inc..
AAPL, + 2.61%
Quarterly results after the close of Thursday's session could help consolidate the fragile resurgence of investors' bullish sentiment after a period of bruising.
The results of the iPhone manufacturer will be important because the constituent elements of the so-called names FAANG, acronym representing a quintet of values related to technology and the Internet, including Apple, Facebook Inc.
FB + 3.81%
Amazon.com Inc.
AMZN, + 4.42%
Netlfix Inc.
NFLX, + 5.59%
and Google-parent Alphabet Inc.
GOOGL, + 3.91%
have been at the center of the recent market turbulence that led the Nasdaq into correcting territory for the first time in two years.
On Wednesday, Facebook's optimistic results helped to give a positive boost to the entire market, after the social media giant published a report that was not as scary as Wall Street feared.
Concerns over tariffs remain among the main concerns of investors, as US and Chinese leaders meet later in November to try to resolve disputes that have turned into end-to-end conflict that many CEOs say has increased the costs of goods and services.
Larry Kudlow, chief economic advisor to President Donald Trump, said in an interview Wednesday at CNBC that a variety of tariffs on all imports from China could still be avoided: "Nothing n & # 39; It is frozen for the moment. " the result of "policy discussions", not "arbitrary calendar".
Bloomberg News said Monday that the Trump government could impose tariffs on all remaining Chinese imports in December, if the November talks between the Chinese president and Chinese President Xi Jinping do not give convincing results.
In the meantime, the mid-term elections in the United States on November 6 will also be an important moment for values as Democrats are vying to take control of the House with Republicans sitting in the Senate.
What stocks were under discussion
Apple shares
AAPL, + 2.61%
increased by 0.5% in pre-commercial trade.
Spotify Technology S.A.
SQUARE, + 5.65%
the stock is down 4.4% before the opening bell, after the streaming music company has forgotten analysts' estimates of the total number of active users per month and declining revenue per user . On the positive side, the company beat earnings and earnings forecasts for the third quarter.
DowDuPont Inc.
DWDP, + 2.45%
equities are up 4.3% pre-market, following the release of a report on third-quarter earnings, exceeding profit forecasts. The company also announced a new $ 3 billion stock repurchase program.
Actions of Wayfair Inc.
W, + 3.61%
fell more than 13% after the company's larger than expected loss in the third quarter on Thursday morning.
Newfield Exploration Co.
NFX, + 3.96%
stocks are up 11% after Encana Corp.
ACE + 1.74%
said he would buy the company in an exchange of shares that valued Newfield at $ 27.36 per share, a 35% bonus.
Abiomed Inc.
BDMV, + 3.01%
stocks are trading up 5% before the market opens Thursday after the firm had announced revenue growth of 37% in the second quarter of fiscal 2019.
Actions of Hanesbrands Inc.
HBI, -2.44%
are down 4.9% in pre-market trading, after the firm missed third-quarter revenue estimates.
What data are developed?
The Labor Department will release its quarterly estimates of productivity growth and unit labor cost changes at 8:30 am, two parameters that the Fed monitors as indicators of future inflation. At the same time, he will publish his weekly jobless claims gauge.
At 9:45, Markit will give the final reading of his PMI Manufacturing Index.
At 10:00, the Census Bureau will release its monthly estimate of construction expenditures for the month of September. At the same time, the Institute of Supply Management will release its US manufacturing survey.
What did the analysts say?
"Stock markets were a green sea yesterday, the risk appetite remained sustained for another day. White House economic adviser Kudlow said more tariffs on China were not "frozen", which may have reinforced market sentiment a little more, "wrote Charalambos Pissouros, an analyst. Senior market analyst at the brokerage and investment firm JFD Brokers, in a research note Thursday.
How are other markets traded?
Asian stocks generally rose on Thursday, with only the Nikkei
NIK -1.06%
lose ground, down 1%. European equities trade up on Thursday, with the Stoxx Europe 600
SXXP, + 0.41%
up 0.6% on the day.
Oil rose after October as the worst month of raw material in two years. The dollar index fell slightly, while gold prices rose Thursday.
Provide essential information for the US trading day. Subscribe to the free MarketWatch Need to Know newsletter. Register here.
Source link
