Thursday , September 23 2021

The New York Stock Exchange, JP Morgan and other major bank operations … Dow 1.03% ↑

In the New York stock market, the main indices have risen sharply due to the good performance of major banks such as JP Morgan Chase.

In the New York Stock Exchange (NYSE) on Monday the Dow Jones industrial average increased 269.25 points, 1.03 percent, to 26.412.30.

The Standard & Poor's index rose to 19.09, or 0.66 percent, to 2.907.41.

O Dow fell 0.05% this week.

On the other hand, S & P rose 0.51% and Nasdaq rose by 0.57%.
The market analyzed the main revenues of banks and the Chinese import and export indicators.

JP Morgan Chase and Wells Fargo announced their benefits for the first quarter and the earnings season ended seriously.

JP Morgan and Wells Fargo announced a net profit exceeding market expectations. Net income for the same period last year increased.

In particular, JP Morgan's 1Q09 net profit reached the highest record of $ 9.18 million. Increasing interest rates will be a key factor in increasing the net profit.

This is contrary to concerns about the benefits season. According to the data, the market expectation for the first quarter earnings of companies with an S & P 500 index is less than 4.2% compared to the same period of the previous year.

It is expected that the season of benefits will not be worse than the worries.

JPMorgan shares won 4.7% a day, leading the market. Financial speculators like Financial Select SPDR ETF (XLF) rose 1.8 percent.

However, some indicated that the bank's earnings in the first quarter were good due to the rise in interest rates, but it was noted that the net profit would deteriorate in the future as the recent interest rate has declined again.

In the case of Wells Fargo, the stock price dropped 2.6% in the pre-opening tranche due to negative comments by the financial director about future interest income.

The news of the merger and acquisition boosted the feeling of investment.

Chevron, an oil conglomerate, announced that it will acquire Anah Dako for a total of 33,000 million dollars. It is the purchase price of the 37% premium the day before the closing price of Anadako.

Anadako shares rose 32 percent a day.

Chevron's shares fell about 5%.

The improvement in exports to China has also helped reduce stock prices due to concerns about the global economic downturn.

The Chinese customs authorities said that the export figure for March was 14.2 percent higher than the same period last year. It was much better than the 8.7 percent growth forecast of the Wall Street Journal (WSJ).

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