The NYSE closed higher on the back of strong performance by major companies and strong economic indicators. In particular, the Standard & Poor’s 500 surpassed the 4,200 mark, rewriting its all-time high.
The Dow Jones 30 industrial average rose 239.98 points (0.71 percent) to 34,060.36 on the NYSE (4/29).
The S&P 500 rose 28.29 points (0.68 percent) to 4211.47. While the tech-heavy Nasdaq rose 31.52 points (0.22 percent) to 14,082.55.
Apple and Facebook’s earnings, announced after the closing of the market the previous day, exceeded expectations. And the entire index rose from the beginning of the opening.
However, it had a volatile day, with all three major indexes turning downward due to profit-taking sales. And concerns about future earnings and inflation.
Apple announced the previous day that its fiscal second quarter sales rose 54 percent. And that it would increase dividends by 7 percent. It also approved a $90 billion share purchase. Apple’s stock price rose to 2.6 percent in the day. But eventually fell 0.07 percent to a bearish rally.
Facebook said its overall sales rose 48 percent on the back of advertising sales. Raising its share price by more than 7 percent. Qualcomm also said its sales rose 52% on the back of strong demand for smartphones. And its stock price closed up 4.5%.
Despite Ford’s earnings exceeding Wall Street’s expectations, its stock price fell more than 9% due to concerns over future earnings due to a global semiconductor shortage. Shares of Uber, Lyft and Door Dash fell by 6% to 10% after U.S. Labor Secretary Marty Walsh said gig workers should be classified as employees.
NYSE closed higher as announcement on New York economy resume
New York City’s announcement that it will fully resume the economy from July 1 had a positive impact on investor sentiment.
The fact that economic indicators were generally positive also supported investor sentiment. The U.S. economic growth rate in the first quarter of this year (Breaking news) recorded 6.4 percent annually on the back of a recovery in consumption, up from 4.3 percent in the fourth quarter.
The figure was slightly lower than the market estimate of 6.5 percent increase compiled by the Wall Street Journal, but it was reaffirmed that the U.S. economy is continuing to grow steadily in the first quarter