Friday , April 16 2021

POINT POINTS-Wall Street despite Intel, Raw and GDP



PARIS, April 26 (Reuters) – Wall Street was able to finish the final session of the week with little progress, despite the negative impact of Intel's poor performance and the sharp decline in the price hike, not to mention the first estimate of the growth of The US in the first quarter left a mixed impression.

This growth accelerated in the first quarter, but mainly due to the evolution of trade balance and inventory changes, two temporary factors that could be unavailable in the next quarters.

On the other hand, household spending and productive investments slowed down significantly and real estate investments were concluded for the fifth consecutive quarter.

The Dow Jones Index gained 81.25 points, or 0.31%, to 26,543.33 points. The wider S & P-500 occupies 13.71 points, or 0.47%, to 2,939.88 points. Nasdaq Composite advanced 27.72 points (0.34%) to 8,146.40 points. This is the second completed Nasdaq and S & P-500 record this week.

During the whole week as a whole, S & P gained 1.2%, Nasdaq 1.86%, while Dow lost 0.06%.

Meanwhile, the results of the quarterly companies continue to rain.

Nearly 78% of S & P-500 companies that have reported their accounts have so far violated consensus, according to Refinitiv data.

Analysts expect only a 0.3% fall in profits in the first quarter, substantially less than 2.3% predicted in early April.

"We will not move much more until we know more about the results," says Michael Geargetti (Cornerstone Capital). "Can earnings forecasts be improved enough to support higher stock prices without a rise in PER?"

"The results were often good, but there were failures and investors want to know why and why the market is moving without a strong trend," said Mike Loengen (E * Trade Financial).

VALUES

Intel fell 9 percent, as the semiconductor giant cut the forecast for revenue from 2019 on Thursday and missed consensus in the first quarter on data center sales, a high margin segment.

That drags other companies and the Philadelphia sector index lost 1.12%, while S & P's tech-growth index fell 0.35%.

By contrast, Walt Disney took 1.95%, thanks to the success of the Avengers: Endgame on the first Thursday night in the United States and Canada.

The energy index fell by 1.21%, the only S & P sector index to end in red with high tech reserves. She suffered from the fall in the prices of the harsh price and quarterly bad results of Exxon Mobil (-2.18%).

In contrast, Ford Motor jumped 10.7%, as it is more secure in its ability to improve its performance throughout the year.

INDICATORS OF THE DAY

Outside GDP statistics, traders learned that consumer confidence in the US fell in April, following the final results of a monthly survey by the University of Michigan.

SESSION IN EUROPE

European stock markets ended Friday in chaos with modest variations, as benchmark indexes suffered a sharp drop in oil prices on quite peaceful markets despite the new round of quarterly corporate earnings.

In Paris, CAC 40 took 0.21% to 5,569.36 points, German Dax received 0.27%, and the British Footsie dropped 0.08%, fined with exposure to primary resources. The EuroStoxx 50 index gained 0.24%, FTSEurofirst 300 gained 0.08%, and Stoxx 600 gained 0.22%. During the whole week as a whole, CAC sold 0.20%, and Stoxx 600 gained 0.14%.

with Sruti Shankar, Daniel Amy Karen, Sined Carre, Laila
Kearney, Kate Duguid, Saqib Iqbal Ahmed,
Wilfrid Exbrayat for French service


Source link