PARIS (Reuters) – The New York Stock Exchange opened higher on Wednesday, as equity markets were buoyed mainly by corporate earnings and the rebound in technology stocks.
In early trading, the Dow Jones index gained 130.81 points, or 0.37%, to 35,499.28 points and the broader Standard & Poor’s 500 rose 0.68% to 4,608.59 points.
The Nasdaq Composite takes 0.89%, or 128.57 points, to 14,635.46.
According to IBES data from Refinitiv, companies making up the S&P-500 index are expected to post earnings up 23.1% year-on-year over the October-December period.
The positive trend on Wall Street is notably maintained by the publication of the financial accounts for the fourth quarter of UnitedHealth Group and Procter & Gamble, whose shares gain respectively 1.5% and 3.6%. The first reported a quarterly profit above expectations, while the second raised its forecast for annual turnover.
After mixed announcements last week from JP Morgan Chase and Citigroup, Bank of America Corp (+3.6%) and Morgan Stanley (+3.4%) pleasantly surprised investors on Wednesday with their results and forecasts.
The heavyweights of new technologies such as Microsoft, Alphabet, Tesla, Meta Platforms and Netflix grant themselves between 0.2% and 1.7%. The sector index rose by 0.4%.
(Written by Claude Chendjou, edited by Blandine Hénault)
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