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On the second most recent trading day of the week on Wall Street, and the last in April, all three key indices are closed. The decline for the day was largely fueled by another round of grim unemployment figures as a result of the coronavirus that devastated the United States.
This is what it looks like on Wall Street at closing time.
- The Dow Jones Industrial Index closes 1.23 percent.
- The Nasdaq Technology Index closes 0.28 percent.
- The S&P 500 aggregate index closes 0.94 percent.
Still, there is a flash of light: according to Marketwatch, all three indices had a very good April.
For the Dow Jones and S&P 500, the eleven and 12 percent increase, respectively, is the sharpest since 1987 and the best April since 1938. For the Nasdaq, it is the best April and the most strong in a month since 2000.
All three indices have a monthly increase for the first time in 2020, writes Marketwatch.
Flying in quarterly results
Tesla and Facebook, on the other hand, were up 7% and 6% respectively in pre-trade after strong quarterly reports on Wednesday night.
At 7:00 p.m. Thursday night, Tesla was down 1.5 percent and Facebook was up 5.12 percent.
Electric car maker Tesla released its results for the quarter on Wednesday night, where the company could report the third quarter with consecutive earnings.
“Despite operational challenges worldwide, the company delivered its best quarter measured in production and deliveries,” the company wrote in the report. Before the quarterly report, Tesla chief Elon Musk said in a storm on Twitter that anti-infection measures in several US states are “undemocratic” and “fascist”, and that authorities must free the United States.
On Wednesday night, Microsoft also released results for the first quarter of 2020, where the company claims they see little of the so-called corona effect. The company’s turnover increased by 15 percent compared to the same quarter last year.
Facebook posted quarterly earnings per share of $ 1.71, compared to $ 0.85 in the same period last year. However, it was lower than expected, which was 1.75“.
Falling ten percent
Of the companies that pull down the stock market is Shell, which fell 11 percent in pre-trading after presenting its first-quarter results. The company announced that it would cut its dividend by 66 percent, the first dividend cut since World War II. Right after opening, the shares fell ten percent.
After closing, Amazon’s quarterly report is released. Good results are expected from the company, where the effect of the crown crisis on e-commerce will emerge.(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.
