Strong profits rise in US stocks

Strong profits rise in US stocks
Strong profits rise in US stocks

US stocks rose slightly at the open (on Wednesday), supported by a fresh batch of strong earnings reports.

The Dow Jones Industrial Average rose 78.55 points, or 0.22%, to open at 3,5835.43 points, the Standard & Poor’s 500 Index increased 5.43 points, or 0.12%, to 4,580.22 points, and the Nasdaq Composite Index rose 40.29 points, or 0.26%, to 15,276 points.

European shares fell, and mining companies topped the losses after fears of the Chinese government’s intervention, which affected metal prices, while mixed earnings data for companies kept investors in a cautious state.

The pan-European STOXX 600 index fell 0.2%, but settled just below its August high, and Asian technology stocks fell on an increase in the yield on short-term US Treasuries and fresh regulatory concerns in China.

The European mining sector index was the most declining, down 1.4%, affected by the decline in Chinese steel futures, as well as the decline in raw materials prices after the government’s intervention to calm commodity prices.

Deutsche Bank fell 2.9%, despite recording better-than-expected quarterly profits, while the Sweden Stock Exchange-listed Kindred Group, which operates online gambling services, plunged 12.7% to be the most declining on the Stoxx 600 index after announcing quarterly results.

On the other hand, the share of Schneider Electric, the manufacturer of electrical appliances, jumped 3.1% after achieving better than expected quarterly results.

Swiss software firm Temenos rose 14.1% after a report that AQTAP was in the early stages of considering a bid.

In addition, the Japanese Nikkei index compensated for its previous losses, to end trading unchanged, as the strong results of companies supported the market, despite the impact of the state of caution and anticipation ahead of the parliamentary elections at the beginning of the week.

The index fell 8 points, to close at 29,098.24 points, maintaining most of its gains made in the past days, which amounted to about 500 points. The index had fallen earlier today to 28,870.25 points, but the broader Topix index fell 0.23% to 2013.81 points.

Shares of Shinko Electric Industries led the gains in the Tokyo Stock Exchange, increasing 14.9%, and Maruwa Electronics shares 12.4%.

On the other hand, Canon’s share fell 5.9%, and Nidec Automotive’s share fell 2.9%.

Follow the economic statement via Google News
Follow the economic statement via Google News


Pin Interest
Whats App

These were the details of the news Strong profits rise in US stocks for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Sustainable beauty: Capturing a rising demand for conscious living

Author Information

I am Jeff King and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind Al-KhaleejToday.NET with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Financial” category. Address: 383 576 Gladwell Street Longview, TX 75604, USA Phone: (+1) 903-247-0907 Email: [email protected]