The positive results from a variety of firms, as well as solid figures, helped the main stock indices of the United States. For the US market, this week is going to be really busy. The focus of investor interest will be on the presidential election, the Fed conference, as well as October labour market data. There can be no ignorance t for corporate reports, which are also not so negative.
The Standard & Poor’s 500 broad-market index advanced 1.17 percent to 3,308.20 points, with the Dow Jones Industrial Average blue-chip up 1.51 percent at 26,901. 31 points, and the high-tech industries’ NASDAQ Composite index was up 0.30 percent to 1,944.57 points.
At $36.30 per barrel, light crude prices were up 1.42 percent. Gold prices rose by 0.74% and closed at $1893.9 per troy ounce. The EUR/USD currency pair, meanwhile, is 0.14 percent in the red and is at 1.163.
It was noticeable that in October, the ISM index of business operation in the manufacturing sector was 59.3 points (the highest value since August 2018), while the measure was at 55.4 points a month earlier. Development was also shown by similar measures in Germany, France and the Euro area as a whole, as calculated by Markit.
The U.S. presidential election, which takes place on Tuesday in a particularly divided America between supporters of Republican President Donald Trump and his Democratic foe Joe Biden, is somewhat overshadowing the business performance.
This week, about 126 companies are anticipated in the S&P 500 to report their quarterly results, while last week there were 186 companies. Ferrari, Fox Corp, Humana and Warner Music Group will announce the results on Tuesday, after Estée Lauder, Clorox or Marathon Petroleum on Monday. Those on Wednesday will be from Baidu, Expedia Group, Hilton Worldwide Holdings, Qorvo and Qualcomm.
Thanks to motivating results, cosmetics maker Estee Lauder added 2.5 percent to its earnings. So, in the first fiscal year, both profit and sales were higher than analysts’ average estimates.
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Meanwhile, owing to a substantial rise in revenue in the light of the COVID-19 pandemic, the market capitalization of cleaning goods maker Clorox increased by 4.67 percent, which also surpassed analysts’ estimates.
Among the losers in the rally was Norwegian Cruise Line Holdings, whose shares were down by 3.64% in the wake of comments concerning the extension of the previously announced suspension of global cruise flights.
The top performers in the blue-chip index are Honeywell International with an improvement of +4.88 percent, Dow +4.15 percent, Chevron added +3.99 percent, Walgreens +3.79 percent, and Caterpillar +3.47 percent.
For Applied Materials, the session went well, rising +1.23 percent, which remained part of the “U.S. Balanced.”