Wall St Lead By Microsoft As Earnings Rebound

Wall Street

Giving the Nasdaq its biggest daily gain since March, U.S. stocks jumped on Thursday, as in technology names Microsoft’s earnings prompted a rebound and investors give way to the oversold shares. A day after it registered its biggest decline since 2011 and confirmed a correction, the Nasdaq rose 3 percent.

The S&P 500 and Dow both moved to positive territory for the year. After it beat estimates for revenue and profit, along with gains in chipmakers, Microsoft jumped 5.8 percent that helped technology stocks rise 2.89 percent. You can’t say that the earnings are turning the market around, he said. Any kind of upside action in the market is facing a lot of skepticism from a lot of people.

On Thursday, on U.S. exchanges, around 9.2 billion shares changed hands compared with 11.44 billion when it sold off on October 11, 2018. Whirlpool Corp, Visa Inc, Ford Motor Co, and Twitter Inc all provided positive results and offering relief and then on sluggish outlooks from manufacturers and chipmaker geared lower. 

The S&P 500 gained 49.47 points, to 2,705.57 or 1.86 percent, the Dow Jones Industrial Average rose 401.13 points, to 24,984.55 or 1.63 percent, and the Nasdaq Composite added 209.94 points, to 7,318.34 or 2.95 percent. Amid worries over the impact of tariffs and China’s profit slowdown, stocks have sold off recently as well as concerns ranging from bond yields, rising costs, Italy’s budget struggles and upcoming U.S. congressional elections.

In September 2018, U.S. business spending on equipment appeared to have remained slow in a further sign that economic growth is moderating and as the rising imports outpaced a rebound in exports the goods trade deficit widened further. According to Refinitiv data, from 15.8 the S&P 500’s valuation fell to a low of 15.3 times profit estimates for next 12 months which is a two and a half year low.

Ford which is struggling for sales in China had gains in the consumer discretionary sector and rose 9.9 percent as its earnings report raised hopes for a better finish to the year. Helped by Xilinx’s 15 percent jump on its strong quarterly report, Philadelphia Semiconductor index rose 2.3 percent, while Advanced Micro Devices’ weak forecast sent its stock dipping 15.4 percent. The Nasdaq posted 225 new lows and 15 new highs. The S&P 500 posted 37 new lows and 1 new 52-week highs.


Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Top 25 Dividend Stocks report for April

People prefer a dividend stock in their portfolio as it possesses the feature of compounding. Compounding means that the earning which is generated through these dividend stock will get reinvested and will eventually create earnings from earning. More precisely, the dividend generated from these dividend stock will get reinvested to buy another set of a share of the dividend stock which results in giving a higher dividend.

Click here to download your top 25 dividend stocks report!

6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report