16 Oct The U.S. Stock Index Growth
Stock index growth. EU countries and UK approved draft Brexit agreement. According to the interlocutors of the agency, all participants intend to agree on the legal part of the draft agreement with Brussels. Media sources reported that any deal depended on receiving the support of the British Prime Minister from the Democratic Union Party of Northern Ireland.
Analysts predict rapid growth of indices
The Dow Jones Industrial Average rose in 0.9% to 270,280 points.
The Nasdaq Composite climbed up to 100.06 points (1.2%) as a result of 8.148.71 points.
According to MarketWatch, stock index growth and the S&P 500 completed trading at 1%, which is actually below the maximum closing level of 3025.86 point. The Dow closed at about 1.2% at point 27359.16.
The Nasdaq Composite closed the session by 2.3% that is below its record close of 8330.21.
Bank shares rise
The U.S. Bank, one of the largest in terms of assets, increased net profit and revenue in the third quarter of 2019. Ultimately, both indicators outperformed market forecasts. As a result, JPMorgan shares grew by 3%. Wells Fargo & Co. Securities Price increased to 1.7%. The bank recorded an unexpected increase in revenue, despite its profit, which fell in the third quarter of 2019.
Goldman Sachs Group Inc stock quotes increased profit by 0.3%. The bank reduced its net profit by 27%. Moreover, this information turned out to be worse than what analysts had expected, and revenue decreased by 6%.
UnitedHealth Group Inc., is a large US health insurance company. The company’s shares increased by 8.2%.
The market value of J&J (Johnson & Johnson), a global manufacturer of health products, increased by 1.6%. Profit and revenue were better than market expectations and the company thereby improved its annual forecast.
The company, which provides taxi and food delivery services, has announced plans to cut nearly 350 jobs to keep the business running. Shares of Uber Technologies Inc. added 2.8% in price. To a greater extent, the reduction will affect employees of Uber Eats and the division of self-driving cars.
Pricing BlackRock Inc. increased by 2.4%. According to the results of the third quarter, the American investment company reduced its net profit by 8% but increased its revenue.
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