In the early morning of the 24th Beijing time, US stocks continued to rise at midday on Friday, with the S & P 500 index hitting an all-time high. Despite mixed economic data and concerns about the spread of new crown variants, strong results boosted market confidence. General education stocks generally fell sharply.
The Dow rose 187.54 points, or 0.54%, to 35010.89; the Nasdaq rose 113.91 points, or 0.78%, to 14798.51; and the S & P 500 rose 34.04 points, or 0.78%, to 4401.52.
The S & P 500 rose as high as 4407.54 on Friday morning, while the Nasdaq rose as high as 14805.51, an all-time high in intraday trading.
The new round of corporate earnings are mostly strong, boosting market sentiment.
SnapIt announced that revenue more than doubled in the second quarter and that user growth was the fastest in four years.
TwitterThe share price rose, with revenue up 74% in the second quarter. Driven by Twitter performance, FacebookAnd technology stocks such as Alphabet are generally higher.
American express's second-quarter revenue, excluding interest expenses, was $10.243 billion, up 33% from a year earlier, while net profit was $2.28 billion, compared with $257 million a year earlier.
IntelThe company reported second-quarter revenue of $18.5 billion under non-GAAP rules, up 2% from a year earlier, and net profit of $5.2 billion, up 6% from $4.9 billion a year earlier. But revenue from its data center business fell year-on-year. Intel CEO Pat Gelsinger said he thought the shortage in the chip market would take at least two years to catch up with "explosive demand" and expected rapid PC sales growth from telecommuting to continue until at least next year.
The yield on the 10-year Treasury note rose to 1.293%. The dollar strengthened against a basket of major currencies and is expected to record a second straight week of gains.
After falling earlier this week on concerns about Delta mutants, US stocks have largely resumed their rally, with investors taking comfort from the earnings growth of large US companies. Fund managers also say governments in the United States and Europe are unlikely to re-impose the blockade, even if the economic recovery is overshadowed by rising cases of infection.
Seema Shah, chief strategist at Principal Global Investors, said that the earnings season is going very well, and although the economic outlook is not as strong as it was three months ago, "the road ahead is not so negative, and there must be a lot of people buying dips."
Global stock markets rose slightly this week on the back of strong corporate earnings and stimulus measures. Meanwhile, the drop in yields on 10-year Treasuries in July may signal concerns that economic growth could peak, in part because the Delta mutation has led to restrictions in some countries. Corporate earnings and economic data have also heightened concerns about inflation caused by supply bottlenecks.
Wells Fargo BankTracie McMillion, head of global asset allocation strategy, said: "one of the most undervalued things in the stock market is how much corporate earnings have increased and how many earnings forecasts analysts have been forced to raise." She added that she was tracking the impact of the Xinguandelta variant on consumer behavior.
European economic growth gained momentum in July after the lifting of the epidemic blockade, but companies warned of shortages of raw materials, delivery delays and rising costs, according to data released on Friday.
The latest U.S. economic report was mixed, with data on Thursday showing an unexpected rise in initial jobless claims and a rise in second-hand home sales for the first time in five months.
At the same time, the Summer Olympic Games officially opened in Tokyo, but due to anti-epidemic restrictions, it will be the first time in history that an Olympic Games will be held without spectators.
In the United States, as Delta mutants spread rapidly among unvaccinated people, the recent rise in COVID-19 infection in the United States shows no sign of abating.
Walensky, director of the US Centers for Disease Control and Prevention (CDC), warned that the Delta variant, which dominates in the United States, is one of the most contagious respiratory diseases in history. The number of confirmed cases confirmed by COVID-19 in the United States exceeded 50, 000 for the first time since April 30, reaching 55132, the CDC reported on Thursday. The average number of new cases on the 7th was 40246.
The data showed that the new Guandalta variant strain was highly contagious, and the nasal infection rate of the Delta variant strain was 10,000 times higher than that of the original coronavirus strain.
Walensky said some hospitals in some parts of the United States have reached their limits due to the surge in COVID-19 cases.
Focus stocks
It is said that TeslaA letter has been sent to the Indian government requesting a reduction in the tax rate on imported cars. India currently levies a 60 per cent import duty on imported cars under $40,000, while higher-priced cars will face a 100 per cent tax rate.
Tesla said in the letter that "if the import duty is reduced to 40 per cent, it will make the price of electric cars more affordable, and as demand increases, it will not affect local companies to enter the industry", according to people familiar with the matter.
Twitter turned a profit in the second quarter, with revenue up 74% from a year earlier to $1.19 billion, and an adjusted EPS of 20 cents above analysts' expectations of 7 cents. The company expects third-quarter revenue of $1.22 billion to $1.3 billion, above analysts' estimates of $1.17 billion.
Honeywell.Thanks to the recovery in aviation demand, the company's second-quarter revenue reached $8.808 billion, up 18% from a year earlier, while net profit was $1.447 billion, up 32% from a year earlier, and earnings per share were $2.04, the report said. Market expectations are $1.93. Honeywell also raised its full-year revenue and profit guidance.
Snap's second-quarter revenue was $980 million, up 116% from a year earlier.
Socket Mobile's second-quarter revenue was $6 million, up 120.99% from $2.71 million in the same period last year.
Boston Beer's second-quarter sales fell short of expectations and issued lower-than-expected earnings per share guidance for fiscal 21.
New OrientalA high road and a good future, moral and master educationAnd so on, the general education stock fell sharply.