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Wall Street in the green, reassured by several business results


Wall Street in the green, reassured by several business results

New York (AFP)

The New York Stock Exchange ended up on Tuesday, supported by several strong quarterly results, including those of US bank JPMorgan Chase.

Its flagship index, the Dow Jones Industrial Average, gained 0.89% to 27,024.80 points.

The Nasdaq, with strong technological color, rose 1.24% to 8188.71 points and the expanded index S & P 500 took 1.00% to 2,995.68 points.

After several sessions dominated by Sino-US trade negotiations, the New York place has refocused its attention on the results of companies, quarterly exercise companies listed on Wall Street.

Four of the six major US banks - JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo - published their quarterly health newsletter on Tuesday.

Their overall performance is a welcome surprise for the financial community, which was anticipating the worst because of a cascade of negative factors for the banking sector, starting with low interest rates.

JPMorgan Chase posted the strongest results, marked by strong growth in net income and sales. His title gained 3.01%.

Shares in Goldman Sachs (+ 0.31%), Citigroup (+ 1.40%) and Wells Fargo (+ 1.70%) also advanced, despite more mixed results.

"Today's rise is based on earnings, and if that continues, indexes may soon break new records," anticipates Peter Cardillo of Spartan Capital Securities.

Other big names in the New York market have seen their share rise after reporting higher than expected results, including health insurer UnitedHealth (+ 8.16%) and pharmaceutical giant Johnson & Johnson (+1, 62%), both members of the Dow Jones.

On the bond market, the 10-year rate on US debt was up to 1.771% (against 1.729% at the previous closing) around 20:30 GMT, its highest in almost a month.

© 2019 AFP

Source: france24

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