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On Wednesday, key indices on Wall Street closed significantly, after rising well throughout the day. At 8 p.m. Norwegian time, news came that the United States central bank would keep its key policy rate unchanged for the foreseeable future, something investors considered to be good news.
Here’s what it looks like at the close of the New York Stock Exchange:
- Heavy industrial Dow Jones closes 2.19 percent.
- The aggregate S & P500 index closes 2.66 percent.
- The Nasdaq Technology Index closes 3.57 percent.
After Wednesday’s gain, the S&P 500 aggregate index is up more than 14 percent so far this month. Continuing on the same track in April, it will be the best month of the index since 1974, writes CNBC.
For Dow Jones, the rally is just a couple of days before entering May at 12.8 percent, and is heading for the best month since 1987.
Google owner Alphabet climbed well on Wednesday, about nine percent in the middle of the day. This happened after the company released first-quarter results on Tuesday, shattering analyst expectations. At the close of the exchange, the stock was up 8.9 percent at a price of $ 1,342.18.
Gilead Sciences, the California-based biotech company, rose as much as six percent in the middle of the day after US authorities announced Wednesday that Gilead’s remdesivir drug could be used as a potential crown drug. Gilead ended the day 5.7 percent, priced at 83.14.
Both Facebook and Tesla are reporting results for the first quarter after closing on Wall Street. They were up 6.17 and four percent respectively.
score fever
Before opening on Wall Street, Boeing, Spotify, Alphabet, General Electric, and Hasbro, among others, submitted their quarterly reports for the first quarter.
In addition, US crude oil prices rose 13 percent ahead of a report on oil stocks by the US Department of Energy statistics wing. USA, EIA. US crude stocks were known to rise by more than nine million barrels of oil last week to 527.6 million barrels. Crude oil increased 24 percent after the report.
Aircraft maker Boeing lost $ 1.7 a share in the first quarter, as expected at $ 1.6. Income was also lower than estimates.
Boeing reported a loss of $ 641 million in the first quarter, according to the company’s quarterly report. The company’s revenue fell from $ 22,917 million in the first quarter of 2019 to $ 16,908 million this year.
Lower reported earnings
Music company Spotify reported lower-than-expected losses, but announced weaker revenue in its first-quarter report, where the exchange rate trends and lower expected ad revenue associated with Covid-19 outperform a larger base of customers.
The Google Alphabet group released its results on Tuesday afternoon, Norwegian time, where sales were lower than expected. However, earnings ended above expectations. Like most companies, Alphabet said the corona virus will affect the current quarter.
After closing on Wall Street tonight, Facebook, Microsoft, mobile and data provider Qualcomm and platform company Transocean are also reporting their quarterly results.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We want you to share our cases using a link, which links directly to our pages. Copying or any other use of all or part of the content may only be made with written permission or as permitted by law. For more terms see here.
