Mid-section analysis AOF Wall Street – Indices that are in good shape
(AOF) – US markets continue to move forward. Investors’ views on the Fed’s monetary policy have changed. They expect a modest rise due to their exposure to growth. Today’s news is also good: new home sales exceeded expectations and FedEx’s annual targets are higher than expected. At around 5:30 pm, the Dow Jones gained 2.15% to 31,337 points while the Nasdaq Composite gained 2.15% to 11,474.
FedEx jumped 7.59% to 244.20 dollars, which allowed it to be among the biggest increases in the S & P 500 index. The American courier giant benefited from a better-than-expected annual profit despite the economic downturn: inflation, rising electricity prices. … “We expect a positive response to the new emphasis that FedEx places on financial efficiency and reducing operating costs”, comments UBS , which is Buy on the price.
Today’s financial community
696,000 new homes were sold in May in the United States for the year. Economists had forecast 588,000 after 629,000 in April (revised from 591,000).
The index of consumer confidence in the US measured by the University of Michigan finally came out at 50 against the “flash” estimate of 50.2 after 58.4 in May.
Points to follow today
FedEx has revealed better-than-expected goals for the year. The American messaging giant saw profits in the fourth quarter of its 2021/2022 fiscal year drop 70% to 558 million, or $2.13 per share. In adjusted data, earnings per share came in at $6.87, in line with expectations. Revenue rose 8% to $24.39 billion against Wall Street’s demand of $24.05 billion.
Banks of America
The Federal Reserve released the results of its annual test of US banks on Thursday, which showed that they continue to have high liquidity, allowing them to continue lending to households and businesses during the recession. All the tested banks remained above their required standards.
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