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Wall Street up slightly, digesting several quarterly results

2019-10-23T14:15:52.050Z

Wall Street up slightly, digesting several quarterly results



New York (AFP)

Wall Street rose slightly Wednesday shortly after the opening, continuing to interpret a new salvo of quarterly results, including those of Caterpillar and Boeing.

Its flagship index, the Dow Jones Industrial Average, rose 0.22% to 26,846.30 points around 13:50 GMT.

The Nasdaq, with strong technological color, gained 0.10% to 8,112.31 points and the expanded S & P 500 index took 0.11% to 2,999.18 points.

The New York Stock Exchange ended in the red Tuesday, weakened by several results below expectations: the Dow had lost 0.15% and the Nasdaq 0.72%.

The US manufacturer of construction machinery Caterpillar, suffering in particular the trade tensions between China and the United States, announced disappointing quarterly results.

Considered one of the barometers of the health of the world economy, the group lowered its earnings forecast for 2019. Its stock was down 1.05%.

Electronic component maker Texas Instruments, which also reported lower-than-expected results amid trade tensions, was down 7.49%.

"It's probably not ignoring the fact that Caterpillar's and Texas Instruments' demand warnings have reinforced the market's sense that interest rates will be lowered at the end of the month," says Patrick O'Hare of Briefing .

The Federal Reserve will hold a monetary policy meeting next week, after which it may decide to cut rates again for the third time since the beginning of the year.

Boeing grew by more than 3%. Despite subdued results in the third quarter, the aircraft manufacturer sent positive signals to the markets, confirming the expectation that the 737 MAX, grounded in two fatal crashes, will return to the sky in 2019, and announce the continuous maintenance of production rates.

Nearly a quarter of the S & P 500 companies released their quarterly results.

Ford, Microsoft and Tesla will engage in this exercise after market closes on Wednesday.

In the bond market, the 10-year rate on the US debt fell to 1.742% against 1.761% the day before the closing.

© 2019 AFP

Source: france24

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