Wall Street’s main stock indices rose on Wednesday (21), after Nike posted upbeat results, while investors took comfort from data showing an improvement in US consumer sentiment and a drop in inflation expectations.
US consumer confidence rebounded in December, with inflation easing and the job market remaining strong, while 12-month inflation expectations fell to 6.7%, the lowest level since last September.
Nike Inc, meanwhile, surged 13.7% after reporting its best quarterly revenue growth in more than a decade, except for one quarter, and beat profit expectations on strong demand from North American shoppers during the holiday season. end of the year.
Consumer discretionary stocks led gains among the S&P 500’s major sector indexes, while financial stocks also rose.
FedEx Corp, which sparked a sell-off in the market in September after worsening its financial forecasts, rose 4% on the delivery company’s plans to cut additional costs by $1 billion.
“Most people think we’re headed for a recession, but when Nike and FedEx earnings are strong, suddenly that can pave the way for higher (share) prices next year,” said Adam Sarhan, president -executive at 50 Park Investments.
Around 1:11 pm (BrasÃlia time), the Dow Jones advanced 1.78%, to 33,433.65 points. The S&P 500 jumped 1.72% to 3,887.30 points, while the Nasdaq gained 1.64% to 10,719.96 points.
Source: CNN Brasil
A journalist with over 7 years of experience in the news industry, currently working at World Stock Market as an author for the Entertainment section and also contributing to the Economics or finance section on a part-time basis. Has a passion for Entertainment and fashion topics, and has put in a lot of research and effort to provide accurate information to readers.
