Home Business New York Stock Market: Dow closed 286.01 points | RYT9

New York Stock Market: Dow closed 286.01 points | RYT9

by news dir

The Dow Jones Industrial Average closed higher overnight (Jul 21) on strong earnings from listed companies. The market was also boosted by investors buying stocks for a second day in a row after the Dow sank in its worst streak. Almost 9 months on Monday

The Dow Jones Industrial Average closed at 34,798.00, up 286.01, or +0.83%. The S&P500 closed at 4,358.69, up 35.63, or +0.82%. The Nasdaq closed at 14,631.95, up 133.08, or +0.92%.

Analysts at Oanda Corporation in New York state said: Investors are still buying stocks after the Dow fell more than 700 points on Monday. This was the heaviest drop since Oct. 28, 2020. In addition, listed firms’ strong performance has helped investors gain a more optimistic view of the economic outlook. And help alleviate concerns about the situation of the epidemic of COVID-19 at the moment.

Eight of the 11 stocks included in the S&P500 rose, led by energy stocks up 3.53%, with ConocoPhillips up 4.69 percent, Chevron up 3.43 percent, Exxon Mobil shares. Up 3.22 percent, Halliburton shares were up 3.49 percent.

Airlines and cruise ships, which benefited from the opening of the economy, continued to gain momentum. American Airlines was up 4.09 percent, United Airlines was up 3.84 percent, Delta Air Lines was up 2.31%, Carnival Corp was up 9.44 percent and Royal Caribbean Cruise was up 5.35%.

Banking stocks rallied after yields on 10-year U.S. Treasuries rallied near 1.30 percent overnight, with Morgan Stanley up 3.64 percent, Goldman Sachs up 2.4 percent. America, up 2.04%, JPMorgan shares were up 2.1%.

Johnson & Johnson shares rose 0.5% after the company reported second-quarter profit of $2.48, beating analysts’ forecast of $2.27 a share. from sales of vaccine against COVID-19 up to $2.5 billion this year

Coca-Cola shares jumped 1.33 percent after the company posted second-quarter profit of 68 cents a share, above expectations of 56 cents a share.

However, Harley-Davidson shares The U.S. big bike maker fell 7.19 percent. Although the company posted better-than-expected second-quarter earnings and revenue, it cut its operating income forecast for the year. Due to the impact of import duties levied by the European Union, Harley-Davidson’s second largest market. Netflix shares fell 3.28 percent after the company reported second-quarter profit of $2.97, lower than analysts’ estimate of $3.16. The number of netflix subscribers in the third quarter will be 3.5 million, below analysts’ forecasts.

Investors are eyeing the earnings reports of listed companies this week, with around 85% of companies in the S&P 500 reporting earnings. Both had higher profits than expected.

Investors are also looking to see US economic data this week, including weekly unemployment claims, Chicago Fed nationwide economic activity index, second-hand home sales. and the Purchasing Managers Index (PMI), manufacturing and service sectors from Markit.


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