2023-04-22 02:04:07
Reporters reported that The Dow Jones New York Stock Exchange closed slightly higher on Friday (April 21) following volatile trading. While investors keep an eye on the performance of listed companies. and direction of US interest rates
The Dow Jones Industrial Average closed at 33,808.96 points, an increase of 22.34 points, or +0.07%, the S&P500 closed at 4,133.52 points, an increase of 3.73 points, or +0.09%, and the Nasdaq Index closed at 12,072.46 points, an increase of 12.90 points, or +0.11%.
But in this week The Dow dropped 0.2% following four weeks of gains, the S&P 500 shed 0.1% and the Nasdaq shed 0.4%.
The trading climate remains depressed. Amid concerns regarding a recession and sluggish performance of listed companies
According to data from Refinitiv IBES, analysts expect The S&P 500 will report a 5.2% drop in profit for the first quarter following previously forecasting a 1.4% gain for the quarter.
The survey results indicate that Business activity in the US rose sharply in April. It hit its highest level in nearly a year, and the new data makes it harder to predict how the Federal Reserve will conduct monetary policy going forward. By the beginning of this week Other economic data suggests that the US economy is performing poorly. which made the situation uncertain.
S&P side Global revealed on Friday that Purchasing Managers’ Index (PMI) includes preliminary US manufacturing and services sectors. It rose to 53.5 in April, its highest in 11 months, from 52.3 in March.
The PMI index is above 50, indicating that the US business sector is expanding. It expanded for the third straight month and was supported by a rebound in employment and new orders. While the confidence of the business sector also improved.
The preliminary manufacturing PMI was 50.4, a six-month high from 49.2 in March, and the preliminary services PMI was 53.7, a 12-month high from 52.6 in March. Oct.
Bright earnings forecasts have helped the market. Hospital operator HCA Healthcare Inc. rose regarding 4 percent following raising its earnings forecast for the year. and has helped boost shares of other hospital operators as well
Procter & Gamble shares soared 3.5% following raising sales and future earnings. Because customers continue to buy the company’s products. despite the price increase
But materials stocks were down 0.9% and were the biggest loser in the S&P 500, weighed down by Freeport-McMoran’s 4.1% drop following it posted declining first-quarter earnings. go down and Albemarle stock Corp, which fell 10 percent following Chile unveiled plans to take over the lithium industry.
For the direction of the market next week Investors will be waiting to see the big tech company’s earnings release.
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