The New York Stock Exchange closed Yesterday with record-breaking Nasdaq and extended S&P500 technology indices, while the selective Dow Jones Industrial Average closed lower.
The final results of the session indicate that the Nasdaq advanced 0.69% to 13,635.99 units and the S&P500 advanced 0.36% to 3,855.36.
The Dow fell by 0.12% to 30,960 points, dragged down by devaluations of some of its components such as American Express (-3.96%), Caterpillar (-2.40%) and Goldman Sachs (-2.19%).
The New York stock market evolved irregularly throughout the day, with investors preparing for the most intense week of quarterly results this season.
Despite the impact of the pandemic, the S&P500 companies that have already released their results have generally exceeded analysts’ expectations.
Quarterly performance is expected in the coming days from over 100 companies, including Apple, American Express, Johnson & Johnson, 3M, AT&T and Tesla.
“We have had a strong ‘sprint’ for four weeks now and a lot of information is coming this week,” commented Brad Peterson, national investment advisor to Northern Trust Wealth Management. “Today was probably a break,” he commented.
The markets have been adding value recently thanks to hopes of new coronavirus vaccines, which could lead to a strong economic recovery later this year as daily life approaches normal.
Hope is also the dominant sentiment as to the approval in Congress of a stimulus and budgetary aid programme, now that the two chambers are controlled by the Democrats.
President Joe Biden has already proposed a $1.9 billion ($1.6 billion) plan, which includes delivering $1,400 to most US citizens.
