August 7, 2020

Wall Street looks out for profits despite Boeing and Caterlpillar announcements

Wall Street closed on Wednesday with slight gains, despite the fact that on Wednesday this day highlighted the negative results of Boeing, which reduced its profits compared to the first three quarters of 2018 by 95%, and Caterpillar that won a 2, 1% less

At the end of the operations on the New York Stock Exchange, the Dow Jones of Industrials rose 0.10% or 26.86 points, to 26,814.96 units, while the selective S&P 500 increased 0.28% or 8, 53 integers, up to 3,004.52 points.

The Nasdaq market composite index, in which the main technology companies are listed, experienced a growth of 0.19% or 15.50 units, and ended up at 8,119.79 integers.

The negative results of Boeing did not prevent its actions to end the day with an increase of 1.04%, as did Caterpillar, whose titles were revalued by 1.23% despite the poor results.

So far, 81% of the 118 companies that have revealed the results of the first nine months of the year have exceeded expectations, according to the FactSet data analysis website.

The green shoots of today continue to the day of Tuesday, in which the three indicators closed down the operations by mixed results in the multinationals and by the news arrived from the old continent about the difficulties in the United Kingdom to apply quickly and ordered your Brexit.

In this context, half of the sectors finished the day in green, with energy (0.75%) back at the head, followed by basic materials (0.66%), communications (0.64%) , the sanitary (0.63%) and the essential goods (0.03%).

At the other extreme, only the sectors of non-essential goods (-0.43%) and the industrial sectors (-1.37%) closed in red.

Among the 30 companies listed on the Dow Jones of Industriales, the profits of Merck & Co (1.93%), Travelers (1.54%), Coca-Cola (1.47%), Apple (1.34%) stood out ) and Caterpillar (1.23%).

In the red zone, Nike (-3.28%), American Express (-1.79%), Walgreens (-1.37%) and Home Depot (-1.07%) stood out

In other markets, Texas intermediate oil rose 2.7% to $ 55.97 a barrel and at the end of Wall Street, gold rose to $ 1,494.20 an ounce, the 10-year Treasury bond yield rose to 1,769% and the dollar lost ground against the euro, with a change of 1,1129.

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