The New York Stock Exchange ended in the green on Thursday, pleased with the first wave of quarterly results, with the broader S&P 500 index reaching a new closing record.
The Dow Jones gained 0.92% and the technologically-tinged Nasdaq index gained 0.22%.
The broader S&P 500 index rose 0.53% to peak at 6,118.71, its closing record. During the day, he also set a new session high.
“Less than a quarter of the companies in the index have published their results but it is encouraging that the message so far has been one of continued strong consumption and improving margins”particularly in the financial sector, notes to AFP Angelo Kourkafas, from Edward Jones.
Among the rising stocks, the GE Aerospace group, born from the split in early April from the General Electric conglomerate, jumped (+6.71%), taking advantage of the publication on Thursday of results above expectations for the fourth quarter of 2024, thanks to maintenance and spare parts, and sharply increasing orders.
From October to December, the group’s turnover increased by 14% to 10.81 billion dollars. Net profit jumped 37% to $2.29 billion, again exceeding analysts’ expectations.
Investors also remain in waiting positions “ahead of two catalysts likely to determine the direction of the market next week”esteemed Angelo Kourkafas.
Four of “Magnificent Seven”the nickname given to the big names in the technology sector, will publish their results on Wednesday for Meta, Tesla and Microsoft, and Thursday for Apple.
In addition, on January 28 and 29, a new meeting of the American Central Bank (Fed) will be held.
The vast majority of market players expect rates to remain at their current level, between 4.25% and 4.50%, according to data collected by the CME group’s monitoring tool, FedWatch.
On Thursday, Donald Trump reiterated his threats towards major trading partners of higher tariffs and increased protectionism. He also called on Saudi Arabia and OPEC to reduce oil prices.
“The (equity) markets have not really evolved following all these declarations”underlines Angleo Kourkafas. According to the analyst, “There’s also some relief that we haven’t seen announcements about tariffs on day one”which currently represent “more of a threat than an act”.
On the bond market, the yield on ten-year US government bonds stood at 4.64% compared to 4.61% the day before at closing.
Elsewhere on the stock market, the airline American Airlines fell (-8.01%) after publishing results above expectations for the fourth quarter of 2024, but investors retained its forecasts, considered disappointing.
Between October and December, the group achieved a turnover of 13.66 billion dollars (+4.6% over one year) and a net profit of 590 million, compared to 19 million a year earlier.
The video game publisher Electronic Arts followed the same trend (-16.70%), weighed down by the reduction in its prospects and sluggish sales for its flagship title EA SPORTS FC 2025.
Moderna (+10.10%) is still benefiting from the enthusiasm generated by the allocation of $590 million in funding from the US Department of Health (HHS) to develop messenger RNA (mRNA) vaccines against coronavirus pandemics. flu, while fears around avian flu are increasing.