Wall street stocks appeared much higher today as corporate earnings jumped signaling positive trends for the stock exchange. Sustaining market hiccups the stock market is basking in its newfound glory with more cash inflow into the market.
The strong buoyancy in the corporate sector mainly Information Technology sector also contributed a lot in empowering the stock market. But, Apple and Google whose stocks touched a new high in this present stock market boom hogged the limelight. Apple rose by 6.4 percents a record growth rate. Google also witnessed an impressive growth of 2.3 percent. Good news sparked many impulsive buying boosting the stock market further.
Nasdaq Composite rose by 0.6percent. Coming right after is Nasdaq 100 went up by 1.1 percent. Coming right after that is the Dow Jones Industrial Average witnessed a growth of 0.2 percent.
American Express augmented its growth by 10 percent. Subsequently, it raised its provision for loan losses by 25 percent. Whirlpool, also fared pretty well in quarterly earnings, sustained by global growth. It also turned out to be lucky day for transport stocks like transport stocks and logistics companies.
Telecom company stocks also started off with a bang increasing its net income by almost 42 percent.
Consequently, its shares also rose by 1.1 percent. Earnings of major multinationals surpassed expectations. Even small capital investors were able to garner profits from this boom. With many young investors joining the bandwagon the picture appears much rosier currently Riding on its newfound economic prowess it is not ready to settle for anything less than the best to satisfy their daily needs, a fact, which has been attested by media reports recently.
Those who failed to benefit from this stock market boom were Texas Instruments which
fell by 9.3 per cent. This sudden drop disappointed many in its fourth quarter citing bad revenue guidance as the possible reason. Other backbenchers in the race included Lexmark, which dropped a new low after it made sudden plans to cut 10 per cent of its workforce.
Energy companies also incurred loses because of weaker oil prices. With the prices of essential commodities like oil and gas on the rise, the benefits of the stock market boom was only available to a lucky few. With the middle class still struggling on the brink to make both ends meet the stock market boom can hardly prove to be effective for all. To reverse the trend the concerned government must get an egalitarian policy in place so that everybody is able to reap the benefits equally.
Some of the technology companies like Amazon, Broadcom, and Juniper Networks are yet to report their results.
Dupont also increased by 8.5 percent overshadowing low stock market growth in the previous quarter.
So, it makes sense to spare a few moments to get yourself on track and reap rich dividends. So, in case your are contemplating with the idea of making some stock market investments it is the right time to take the leap.
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