Titular
The S&P 500 reached a new historical maximum on Thursday, since dozens of index companies exceeded the expectations of Wall Street in their profit reports this week, while the unemployment requests last week and retail sales last month were also better than expected.
The S&P 500 rose 0.6 % to be located at 6,304.69 around 3 PM EDT, exceeding the 6,302.04 intradic record established on Tuesday and also exceeding the index closure record, which was just over 6,280.
Several actions promoted this record day, including Pepsico (rose 7.6 %), United Airlines (4.8 %), Nvidia (1.2 %) and Microsoft (1.2 %).
Until Thursday afternoon, approximately 50 S&P companies have reported their quarterly profits of the second quarter, including Pepsico and United Airlines, and 88 % of these companies exceeded the projections, according to FACTSET.
The Labor Department reported on Thursday 221,000 unemployment applications for the week that ended on July 12, a decrease of 7,000 compared to the previous week, while the Census Office reported that retail sales increased 0.6 % in June, above the 0.2 % estimated 0.2 %.
Lee: Inflation in the US advances as the transfer of tariffs begins
What to watch
Netflix, which in April reported record quarterly gains, will announce its results of the second quarter after the closing of Thursday’s session. The company is expected to announce revenues for 11,070 million dollars and profits per share of $ 7.08, according to FACTSET.
Key context
The S&P has reached new maximums in recent months, promoted by actions related to artificial intelligence that have also raised to Nasdaq. Among the companies that have promoted the S&P is NVIDIA, which reached a record price per share at the beginning of the week, consolidating itself as the most valuable company in the world with a market capitalization greater than 4.2 billion dollars until Thursday. The American markets in general have remained stable after an increase in inflation of 2.7 % in June, slightly above the forecasts of analysts that estimated 2.6 %, while the tariffs of President Donald Trump seem to be raising consumer prices. The optimism of investors coincides with the growing Trump pressure and other officials of his administration to dismiss the president of the Federal Reserve, Jerome Powell, although Trump has denied having plans to remove it.
This article was originally published by Forbes US
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