Wall Street: stabilization in sight after a euphoric Thursday
'In a market where performance is highly concentrated, Nvidia's excellent results are certainly far more important for the short-term trajectory of the stock market than any statistics or central bank decisions', says Pictet AM.
Indeed, the processor designer's stock surged by more than 16% on Thursday, dragging down the equity indices as a whole, starting with the technology-heavy Nasdaq Composite, which gained almost 3%.
This final session of the week could, however, see buyers take a break after these vigorous gains on the equity markets (+2.1% on the S&P500), and with no macroeconomic data expected this Friday.
In other stock news, Warner Bros Discovery reported on Thursday evening a net loss of $400 million for the last three months of 2023, down fivefold year-on-year, but adjusted EBITDA down 5% to $2.47 billion.
Meanwhile, accounting and tax software provider Intuit reported adjusted EPS for its second quarter 2023-24 up 20% to $2.63, and adjusted operating profit up 17% to a billion.
Bristol Myers Squibb announces the success of its $4 billion-plus takeover bid for the RayzeBio group, as well as a positive opinion from the European Medicines Agency's CHMP for its Reblozyl in transfusional anemia.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
Go to the original article.
Contact us to request a correction