Snap rushes off
S&P 500 climbs to new all-time high
February 7, 2024, 10:58 p.m
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The question of the next interest rate cuts is fading into the background on Wall Street, but the reporting season is keeping investors on tenterhooks. At Ford, the figures are more encouraging than expected, and the stock is making a jump upwards. Snap papers, on the other hand, are flying out of the depots.
The US index has further consolidated balance sheets above market expectations S&P 500 on Wednesday to a new all-time high. The broad stock market barometer closed 0.8 percent higher at 4,995 points, a record close. Investors’ interest rate hopes and company figures above market expectations had helped the S&P reach several record highs in the last three months. The Dow Jones Index the standard values increased by 0.4 percent to 38,677 points. The technology-heavy one Nasdaq moved up one percent to 15,756 points.
“The profits so far have been a tad better than expected,” said Robert Pavlik, portfolio manager at asset manager Dakota Wealth. “They’re not great, but they’re definitely better than what people expected.” According to LSEG data, more than 80 percent of the S&P 500 companies that have already presented figures for the fourth quarter of 2023 exceeded expectations. The experts assume that profits increased by a total of around eight percent compared to the last quarter of 2022.
Ford’s dividend pleases investors
Shares from were in demand, among others ford with an increase of over six percent. The car manufacturer surprised with good business figures and an optimistic outlook and wants to pay out a further dividend of 18 cents per share for the first three months of 2024 in addition to the usual 15 cents per quarter. The competitor’s titles General Motorswhich also recently increased its dividend for common shares from 2024, gained almost two percent in Ford’s wake.
Investors also took to the video game platform Roblox to. Shares jumped more than ten percent following a strong forecast. According to the company, revenue generated by purchases of Roblox’s virtual currency “Robux” is expected to be between $4.14 billion and $4.28 billion in 2024. In the fourth quarter of 2023, it recorded in-game purchase sales exceeding $1 billion for the first time. “These numbers show that the company’s investments are paying off,” said Dave Mazza, chief strategy officer at Roundhill Investments. “Online worlds are still a niche, but a lot of momentum is building up behind the scenes.”
However, people flew out of the depots Snap. The Snapchat operator’s shares fell by almost 35 percent. The company missed analysts’ expectations in the fourth quarter amid fierce competition from larger rivals. The investors also returned Alibaba The back. The online retailer’s US-listed shares lost almost six percent. The Chinese Amazon rival disappointed with a 77 percent drop in profits for the third quarter to the equivalent of 1.88 million euros. The reason was a poor retail business and the sluggish economy in China.