Wall Street rises again and is on track to close a week in positive

Wall Street rises again and is on track to close a week in positive

With Twitter and Snap soaring after beating expectations with their quarterly results.

Wall Street rises again and is likely to close the week positively after corporate results have once again marked the investor’s agenda, with Twitter and Snap soaring after being the last to publish their accounts (and beat expectations with them).

“We already saw during the pandemic that technology stocks and their results did it like no one else, so I think many investors will return to them now that we have seen a resurgence of Covid,” explains Yung-Yu Ma, chief strategist at BMO Wealth Management.

Wall Street rises again

In macro terms, Thursday’s weekly jobless claims in the US, were published that negatively surprised growing significantly more than expected by experts. The number of requests has reached 419,000 applications, compared with 350,000 estimated and 368,000 revised from the last data.

On the bright side, ongoing applications have dropped by 126,000 to 3.24 million, a new low amid the coronavirus pandemic crisis.

At a business level, the good results of Twitter are giving wings to its competitors on the floor, which also stand out with increases, such as Facebook and Alphabet (Google’s parent company), with increases of 2% and 1%, respectively.

In addition, both will confess to the market next week with Apple, Microsoft and Amazon, in addition to Tesla, which will do so on Monday.

Intel was another of the companies that reported to investors this Thursday, with profits that have rebounded 12% compared to the second quarter of 2020. They also updated their forecasts for all of 2021, with continued growth estimates even with the return to the offices and the schools. Despite this, it falls by more than 4%.

Despite everything, the chipmaker falls almost 3% in the stock market“Intel stocks have been moving in an erratic and complex movement in recent years. It would seem that since 2018 we have been wedged between $43 as a support and $69 as a resistance zone,” says Ben Pence, analyst of The Advertiser Mirror.

American Express, which is sinking 4%, is one of those values ​​linked to the recovery that has been talked about so much in recent weeks. It has also presented results this Friday, with profits and income above estimates, being favored by the release of credit reserves and the increase in spending on travel and entertainment.

In other marketsWest Texas oil fell 0.25% to 71.74 dollars, while the euro appreciated 0.06% and changed to 1.1777 dollars, an ounce of gold fell 0.35 %, up to 1,799 dollars, and the yield of the American 10-year bond reaches 1,298%. Lastly, bitcoin is up 0.07% to $32,362.