Wall Street indexes are recovering today, with investors gaining momentum from the data announced today for retail sales in anticipation of new statements by the President of the Federal Reserve, Jerome Powell.
Retail sales provided an encouraging picture for the economy and helped allay concerns that the rally in inflation would hit consumption. In particular, data released by the US Department of Commerce showed a 0.9% increase in sales in April, following the upward revised rise in March by 1.4% from 0.7% initially. Excluding vehicles and fuel sales, retail sales rose 1% last month.
Analysts’ average estimates in a Bloomberg poll showed an increase of 1% in total sales and 0.7% excluding vehicles and fuel.
Indicators – Statistics
On the board, the Dow Jones gained 294.49 points or 0.91% to 32,517.91 points, while the broader S&P 500 adds 49.33 points or 1.23% to 4,057.34 points. The technological Nasdaq strengthened by 261.49 points or 2.24% to 11,918.29 points.
Of the 30 stocks that make up the Dow Jones industrial average, 22 are moving with a positive sign and eight with a negative. The biggest gainer was Boeing with gains of $ 4.58 or 3.70% at $ 128.64, followed by American Express with gains of 3.22% to $ 161.47 and JPMorgan Chase at 122, $ 07 with an increase of 3.22%.
On the other hand, the three stocks with the biggest losses are Walmart (-8.78%) as the first quarter gains of the retail giant failed to confirm analysts’ estimates, Coca-Cola (-1.08%) and Verizon Communications (-0.75%).
On the other hand, Home Depot announced earnings and revenue for the first quarter that exceeded the estimates of Wall Street analysts.
Citigroup also jumped 5% in the wake of reports that billionaire investor Warren Buffett’s Berkshire Hathaway acquired a nearly $ 3 billion stake in the bank in the first quarter.
On the other hand, Twitter shares are moving in a negative direction after Elon Musk tweeted that the $ 44 billion deal “can not go ahead” without more information about spam bots. The US Securities and Exchange Commission (SEC) remains committed to concluding the deal at $ 54.20 per share.
Source: Capital
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
