Saturday , May 28 2022

New York Stocks: Positive feeling on Nasdaq gives Dow a 11/15/18 boost



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NEW YORK (Australian international) – The strong gains on the Nasdaq stock market also pushed Wall Street on Thursday. Dow Jones Industrial became profitable after its initial decline and gained 0.42% to 25,184.59 points, approximately two hours before closing. There were no innovative impulses from mixed economic data.

The S & P 500 rose 0.64% to 2,718.92. At the same time, the Nasdaq 100 advanced 1.26% to 6855.00 points.

The Empire State index was better than expected, but the Philly Fed index and weekly claims on the unemployed showed a weaker picture than expected. Retail data also not very convincing. Generally, sales grew more than predicted in general, but without car sales and gasoline sales, they were weaker, according to Goldman Sachs. On the whole, the mixed picture still shows a steady rhythm of growth, he said.

Among the Dow winners, Cisco's shares rose by 4.6 percent at the top of the index. The network specialist has delighted investors with a surprisingly strong first quarter. The bottom line was the gain of nearly 50%.

JPMorgan's shares benefited by a 2.0% increase over the star investor, Warren Buffett. It participated through its Berkshire Hathaway investment company with a considerable amount of the largest American bank. In the third quarter, the investment holding of the 88-year-old guru bought more than 35 million JPMorgan shares, raising a share of about $ 4 billion.

For the 3M newspapers it rose 1.4%. The conglomerate expects strong revenue growth in the coming years. Surplus per share is expected to grow by 8 to 11% per year over the next five years.

Walmart shares lost 1.5% at the end of the Dow. Profit is probably the most important reason, because after a strong third quarter, the retailer group is now optimistic about the Christmas business.

JC Penney's work returned after a 12% drop at the start of trading and gained 2.7% last. However, sales growth in the third quarter of the group has disappointed. / Ck / el

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