Wall Street closed without direction, although earnings season remains strong: “Results have been significantly better than forecast”


The main indices of the New York stock exchanges closed inconsistently on Tuesday, but the Dow Jones index, which tracks major American companies, rose to a new record during trading.

Investors’ attention is now on the president Joe Biden in the stimulus package and whether Congress can push through the $ 1,900 billion stimulus package envisaged by Biden.

According to The Wall Street Journal, Democrats in the House of Representatives are trying to finalize a bill on the support package later this week.

Investor sentiment is also boosted by the progress of corona vaccinations. In many countries, the rate of corona infections has started to decline.

“The recovery package looks set to be quite big. Conditions for the recovery package have improved,” Seema Shah treasurer Principal Global Advisorsilta commented on The Wall Street Journal.

Better-than-expected results for the fourth quarter of last year have also supported market growth. According to the analysis service Factset, about 80 percent of the companies in the broad S&P 500 index that have reported their results so far have reported better results than analysts forecast.

“Overall, the results have been significantly better than forecasts,” said the chief investment officer Charles Hepworth finance company GAM Investmentsilta commented on The Wall Street Journal.

The S&P 500 index was driven up by equities in the energy and financial sectors in particular. Oil companies Occidental Petroleum increased by 4.2%, Marathon Oil 6.8 per cent and Exxon Mobil three percent.

Cruise shipowners Royal Caribbean Group the share price rose 9.7 percent and Carnivalin share 9.1 percent. Companies are sensitive to the turn of the coronary crisis and have been in decline during the year, often on days when the virus infection situation has been deteriorating.

The Dow Jones index rose 0.2 percent, the broad S&P 500 index fell 0.1 percent and the Nasdaq index fell 0.3 percent.

The 10-year interest rate on U.S. government debt was quoted at 1.301 percent after the stock market closed. One euro received $ 1.2107.


Source: Arvopaperi by www.arvopaperi.fi.

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