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US stock market finishes the session with the growth

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US stock market finishes the session with the growth
April 23
09:00 2020

It’s no secret that the season of quarterly reporting continues. The market participants are more optimistic because they are surprised by the excellent figures given in the reports by some companies. Some sort of stability prevailing in the energy market after the collapse also creates boosts in investors’ mood.

The good news also included the fact that the US Senate had approved a bill to assist businesses (in priority – small businesses and individual entrepreneurs) in the amount of $ 500 billion.

All the news has led to the growth of the US stock indexes on Wednesday.

The energy sector has strengthened: Halliburton shares have increased 0.3%, Diamondback Energy shares have grown 9%, Noble Energy shares have shown an increase of 7.8%.

Chipotle Mexican Grill shares have grown strongly (12%) due to the good reporting. Financial results of the company Texas Instruments have exceeded forecasts; this has led to a 4.8% increase in shares of a major semiconductor manufacturer.

Snap Inc. shares have shown a record growth. The increase in price has amounted to 36.7%. The explosive growth of new users of the popular Snapchat application caused such an increase.

No one could expect that the capitalization of Baker Hughes (an American oil services company) would grow by 1.9 %.

The pandemic caused the revenue growth of Kimberly-Clark’s, which is known for its hygiene products. The increase in revenue has led to the growth of quotations by 2.4%.

Expedia Group, which is an online travel agency, has reported on the stock growth by 7.3%. The reason was the information that the company management was negotiating with large investment companies such as Silver Lake and Apollo Global Management on a possible sale of its share.

Donald Trump has held a briefing and said that the restart of the economy was the best way to solve the problems of the oil and gas sector. The US President noted that about two dozen states were already preparing for a full recovery of economic activity.

Here can you see the growth of the indices during yesterday’s trading session:

The Dow Jones Industrial Average index has grown 1.99%, closing at 23475.82 points;

S&P 500 has added 2.29%, ending the day at a value of 2799.31 points;

The Nasdaq Composite has grown 2.81% to 8495.38 points.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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