Wall Street ended higher yesterday, optimistic ahead of a salvo of corporate earnings this week in the US.
The Dow Jones index gained 0.22% to 34,585 points, the Nasdaq technology index 0.9% to 14,245 points, and the S&P 500 rose 0.4% to 4,523 points, to return to above 4,500 points for the second time. in a year.
(See: Dollar extended its losses at the start of the week).
“There was no specific news that motivated this rise in the market, except for the optimism of investors about the results season” quarterly reports of companies in the US, summarized Peter Cardillo, of Spartan Capital.
The analyst recalled that on Friday, some bank results “exceeded expectations” in the case of the largest bank in the country by volume of assets, JPMorgan (2.41%), and Wells Fargo (2.71%), among others.
“Today we will have Bank of America, Charles Schwab, Morgan Stanley, PNC Bank, Bank of New York. We dive into the heart of the matter”Cardillo said. They are followed in the week by Goldman Sachs, Tesla, United Airlines and Netflix.
(See: Spending priorities in Colombia compared to the US and Europe).
The market will also learn US retail sales data for June, a crucial indicator of the health of consumption, the engine of the country’s growth.
Analysts expect retail sales to rise 0.5% in June over May, compared to a figure of 0.3% in May over April.
Among the values of the day, Ford fell almost 6% after announcing a sharp reduction in the price of its electric pickup F-150 Lightning, when Tesla announced that it had ended production of its own electric pick-up truck.
General Motors lost 3.12% and the electric vehicle maker Rivian 3.34%.
(See: ‘Colombia must place more emphasis on entrepreneurship’: IDB).