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The US economy USA It suffered a drop in the first quarter as economic growth fell 4.8 percent.
Although the crown crisis hit the economy towards the end of the quarter, a consensus was reached beforehand that GDP figures would end at minus four percent, up from 2.1 percent in the previous quarter. Still, the US stock exchanges. USA They opened up on Wednesday afternoon.
At 8 p. M. Norwegian Time, the central bank of the United States presented the Federal Reserve with perspectives for the economy where it was found, among other things, that the Federal Reserve maintains interest rates unchanged.
The S&P 500 opened 2.0 percent and rose 2.8 percent at 8pm Norwegian time.
Dow Jones opened 1.8 percent and rose 2.4 percent at 8pm Norwegian time.
Nasdaq Comp. it opened 2.3 percent, and rose 3.5 percent at 8pm Norwegian time.
Significant companies
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.
Alerts on weaker 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.
