A whole string of surprisingly good economic data and strong quarterly numbers from the heavy Dow Jones United Health supported the rally in US stock markets on Thursday. Both Dow Jones and the broad S&P 500 The tech-heavy Nasdaq rose to other highs.
Standard & Poor’s 500
The Dow Jones index jumped 0.90 percent to 34,035.99 points, surpassing the next round’s mark of 34,000 points. The Standard & Poor’s 500 advanced 1.11% to 4,170.42 points. Nasdaq 100 It rose 1.61 percent to 14,026.20 and closed above 14,000 for the first time.
Data from the labor market and the retail sector and leading indicators from regional central banks published before the start bell exceeded market expectations. The situation in the US housing market also improved in April. Industrial production alone was lower than economists forecast in March.
“The US economy is now dangerously strong,” wrote analyst Tobias Bass of Landesbank NordLB, referring to higher retail sales in March. Government aid, opening up the economy in several states, and improvement in the labor market would have greatly boosted consumption.
United Health shares He led the winners of the Dow Jones with a price increase of nearly four percent. The public health insurance company started with a strong profit jump despite the Corona pandemic. Analyst Frank Morgan of RBC wrote that although the business situation in the United States was difficult, the insurance company had won many new clients.
Citigroup Thanks to booming securities and investment banking services, as well as lower credit risk, profits more than tripled to $ 7.9 billion in the first quarter compared to the same period last year. However, the financial giant’s shares declined slightly after initial gains.
Bank of America’s quarterly reports were not doing well And US Bancorp. The shares lost 2.9 and 2.2 percent, respectively. At Bank of America, investment banking services performed poorly and therefore worse than other major banks, the stockbroker said. At US Bancorp, Goldman Sachs analyst Richard Ramsden criticized the revenue. Prices of both stocks have also risen sharply since the beginning of November.
Dell Computer Corporation Breaking from its largest share in the VMware software manufacturer. Firms should be created independently of one another. The announcement was well received by investors: Dell’s shares rose by nearly seven percent.
Delta Airlines stock It lost 2.8 percent and is heavier with other industrial names such as American Airlines Und Airlines . Analyst Kathryn O’Brien of Goldman Sachs said that Delta Airlines’ expectations for sales in the current quarter are not up to the expectations of investors.
(With material of dpa-AFX)