The New York Stock Exchange at the opening on Thursday progressed, boosted by encouraging results from several big names such as Caterpillar and score better than expected European indicators.
Markets at 10:45:
TSX 14 450.76 / 138.69 (0.97 percent)
Dow Jones 16 684.18 / 222.86 (1.35 percent)
S & P 500 1 950.74 / +23.63 (1.23 percent)
NASDAQ 4 446.89 / +64.04 (1.46 percent)
Wall Street ended sharply in the red on Wednesday after a hesitant session, catching xxbreath after a strong growth: the Dow Jones lost 0.92 percent to 16 461.32 points and the Nasdaq 0.83 percent to 4382.85 points.
Thursday, “the positive quarterly reports from several American companies helped indexes to rebound,” noted analysts at Charles Schwab.
Investors particularly hailed the surge of Caterpillar American Construction Group (+4.96 percent to 99.26 dollars), which recorded an increase of 8 percent year on year in its net profit in the third quarter, and those of manufacturer of office supplies and industrial 3M (+5.57 percent to 146.69 dollars), whose profits have increased by 6 percent over the same period. These two members of the Dow Jones noted on the occasion of their annual profit forecasts.
The American automaker General Motors (GM) also exceeded expectations in the third quarter, with strong sales in North America and China (up 1.95 percent to 31.92 dollars).
On its part, American Airlines increased its profits and the number of passengers (up 0.19 percent to 37.11 dollars).
The mood of the market was also reassured by positive surprises from the Eurozone, where growth of private activity strengthened slightly in October, thanks to a small increase in Germany which appeased some strong concerns about the ability of the European economy to rebound.
In the United States, weekly jobless claims rose in the measure expected by analysts while remaining below 300,000 for the sixth consecutive week.
Other positive news: the composite index of leading indicators prepared by the Conference Board rose 0.8 percent in September, higher than analysts’ expectations which were 0.5 percent.
Other values that stand out, the American telecom giant AT & T lost 2.17 percent to 33.75 dollars after the release Wednesday of disappointing results with earnings falling 21 percent.
The airline group United Continental fell by his side 2.91 percent to 47.63 dollars despite a doubling of its net profit in the third quarter as investors sanction the forecast for the end of the year.
The Franco-American bank Lazard, which has seen its profits soar in the third quarter thanks to record activity and a particularly positive trend in the strategic consulting segment in mergers and acquisitions, improved by 1.88 percent to 49, 63 dollars.
American pharmaceutical companies Abbott and Mylan increased respectively from 2.00 percent to 51.37 dollars and 1.61 percent to 42.26 dollars. They assured Wednesday night they were pursuing the acquisition of non-US assets of the latter by the former, but would slightly change the agreement after the American offensive against tax exile multinationals.
The bond market was changing down. Sign of weaker demand, the yield on 10-year Treasury progressed to 2.266 percent against 2.229 percent Wednesday night, and that good for 30 years at 3.034 percent against 3.000 percent yesterday.