Wall Street prolongs its rebound in another day full of results

Wall Street anticipates mixed sign

Wall Street prolongs the rebound on Tuesday with all its indices in the green after the good corporate results that Coca-Cola, Verizon and Johnson & Johnson have presented. According to analysts, what the New York Stock Exchange is experiencing is a preview of what will occur in the coming months.

“I think what we have seen lately is a leading indicator of the correction will probably see the end of August, September and October,” said analyst Matt Maley, of Miller Tabak.

“The outlook in the absolute sense is still quite good: This is a bounce to a recession,” says Jonas Goltermannof Capital Economics. “It’s hard to justify big drops.”

Continuing on the business front, Coca-Cola rises 3% after raising its sales and profit forecasts for 2021 due to the economic reopening. Likewise, revenues for the second fiscal quarter have increased by 28%.

Verizon also appreciates on the stock market after increasing its profits by 23% and reaching 5,949 million dollars, which represents a net profit per share of 1.37 dollars.

Another company that has presented results has been Johnson & Johnson, which falls slightly. It has achieved profits 73% higher than those of just a year ago. But this good news has been clouded by a study that certifies that its vaccine is less effective against the Delta variant.

Netflix trades with drops above 4% after being unable to match the expectations that were expected around its subscriber growth.

The titles that benefit most from a healthy reopening of the economy, such as Carnival, led this Wednesday and for the second consecutive session the rebound of the US stock markets. Energy companies also continue to come higher thanks to the recovery of oil.

In other markets, West Texas oil fell 2.54%, to 68.91 dollars, while the euro depreciated 0.03% and changed to 1.1776 dollars, and the ounce of gold dropped to 0, 77%, up to $1,797. Finally, the yield on the 10-year Treasury bond rises to 1.282% and bitcoin falls 5.68%, to $31,520.