Major US stock indexes rose significantly on Tuesday, as hopes for further incentives for a slowing Chinese economy and a surge in Netflix shares helped investors offset the disappointing earnings from JPMorgan and Wells Fargo.
The US data was also in focus. As the report of the Ministry of Labor showed, the producer price index for final demand fell by 0.2% in December after rising by 0.1% in November. This led to an annual increase in producer price index in December by 2.5%. Economists predicted that industrial inflation will decline by 0.1% over the month and increase by 2.5% on an annualized basis. At the same time, the basic producer price index fell in December by 0.1% after rising by 0.3% in November. In annual terms, the baseline value of industrial inflation increased by 2.7%, as in November.
Quotes of oil jumped by about 3% against the background of OPEC and Russia reduced production, as well as signs of a decline in US oil reserves. The number of US rigs looking for new oil fell slightly to 873, in early 2019, and a Reuters survey found that US crude stocks probably declined last week.
Most of the components of DOW finished trading in positive territory (24 out of 30). The growth leader was UnitedHealth Group Incorporated (UNH, + 3.31%). Outsiders were 3M Company (MMM, -1.71%).
Almost all sectors of the S & P recorded an increase. The largest growth was shown by the health sector (+ 1.5%). Only the industrial goods sector decreased (-0.3%)
At the time of closing:
Dow 24,065.59 +155.75 +0.65%
S & P 500 2,610.30 +27.69 +1.07%
Nasdaq 100 7,023.83 +117.92 +1.71%
U.S. stock-index futures rose slightly on Tuesday, as disappointing quarterly results from JPMorgan (JPM; -2.3%) partly offset reports about China’s stimulus measures.
Global Stocks:
Index/commodity | Last | Today's Change, points | Today's Change, % |
Nikkei | 20,555.29 | +195.59 | +0.96% |
Hang Seng | 26,830.29 | +531.96 | +2.02% |
Shanghai | 2,570.34 | +34.58 | +1.36% |
S&P/ASX | 5,814.60 | +41.20 | +0.71% |
FTSE | 6,855.99 | +0.97 | +0.01% |
CAC | 4,765.56 | +2.81 | +0.06% |
DAX | 10,826.32 | -29.59 | -0.27% |
Crude | $51.23 | +1.43% | |
Gold | $1,291.70 | +0.03% |
(company / ticker / price / change ($/%) / volume)
3M Co | MMM | 190 | -2.17(-1.13%) | 4546 |
ALCOA INC. | AA | 28.51 | -0.28(-0.97%) | 900 |
ALTRIA GROUP INC. | MO | 48.27 | 0.01(0.02%) | 463 |
Amazon.com Inc., NASDAQ | AMZN | 1,631.00 | 13.79(0.85%) | 49433 |
Apple Inc. | AAPL | 150.2 | 0.20(0.13%) | 130389 |
AT&T Inc | T | 30.45 | -0.17(-0.56%) | 30860 |
Boeing Co | BA | 351.61 | 1.25(0.36%) | 6252 |
Caterpillar Inc | CAT | 132.49 | 0.69(0.52%) | 423 |
Cisco Systems Inc | CSCO | 43.2 | -0.01(-0.02%) | 8310 |
Citigroup Inc., NYSE | C | 58.86 | -0.07(-0.12%) | 81678 |
Exxon Mobil Corp | XOM | 71.97 | 0.34(0.47%) | 3542 |
Facebook, Inc. | FB | 145.42 | 0.03(0.02%) | 67832 |
FedEx Corporation, NYSE | FDX | 171 | -0.55(-0.32%) | 115 |
Ford Motor Co. | F | 9.05 | 0.06(0.67%) | 117974 |
Freeport-McMoRan Copper & Gold Inc., NYSE | FCX | 11.91 | 0.36(3.12%) | 123383 |
General Motors Company, NYSE | GM | 37.84 | 0.18(0.48%) | 16845 |
Goldman Sachs | GS | 177 | -1.72(-0.96%) | 9041 |
Home Depot Inc | HD | 176.13 | -2.68(-1.50%) | 22824 |
Intel Corp | INTC | 48.37 | 0.02(0.04%) | 12872 |
International Business Machines Co... | IBM | 120.63 | 0.24(0.20%) | 3136 |
Johnson & Johnson | JNJ | 128.13 | -0.15(-0.12%) | 1130 |
JPMorgan Chase and Co | JPM | 98.22 | -2.72(-2.69%) | 495688 |
Merck & Co Inc | MRK | 73.5 | 0.13(0.18%) | 1515 |
Microsoft Corp | MSFT | 102.76 | 0.71(0.69%) | 74379 |
Pfizer Inc | PFE | 42.45 | 0.08(0.19%) | 580 |
Procter & Gamble Co | PG | 91.02 | -0.13(-0.14%) | 629 |
Tesla Motors, Inc., NASDAQ | TSLA | 336.6 | 2.20(0.66%) | 27227 |
The Coca-Cola Co | KO | 46.87 | -0.28(-0.59%) | 14532 |
Twitter, Inc., NYSE | TWTR | 32.5 | 0.13(0.40%) | 34923 |
United Technologies Corp | UTX | 110.73 | -0.12(-0.11%) | 151 |
UnitedHealth Group Inc | UNH | 242.55 | -5.51(-2.22%) | 66943 |
Verizon Communications Inc | VZ | 57.79 | -0.24(-0.41%) | 9525 |
Visa | V | 137.8 | 0.70(0.51%) | 6431 |
Walt Disney Co | DIS | 112.81 | 0.39(0.35%) | 947 |
Yandex N.V., NASDAQ | YNDX | 29.56 | 0.01(0.03%) | 750 |
American Intl (AIG) initiated with a Neutral at Compass Point; target $44
Citigroup (C) upgraded to Outperform from Market Perform at BMO Capital Markets
Wells Fargo (WFC) reported Q4 FY 2018 earnings of $1.21 per share (versus $1.16 in Q4 FY 2017), beating analysts’ consensus estimate of $1.18.
The company’s quarterly revenues amounted to $20.980 bln (-4.9% y/y), missing analysts’ consensus estimate of $21.803 bln.
WFC fell to $48.10 (-0.66%) in pre-market trading.
UnitedHealth (UNH) reported Q4 FY 2018 earnings of $3.28 per share (versus $2.44 in Q4 FY 2017), beating analysts’ consensus estimate of $3.22.
The company’s quarterly revenues amounted to $58.417 bln (+12.2% y/y), generally in-line with analysts’ consensus estimate of $58.011 bln.
The company also reaffirmed guidance for FY 2019, projecting EPS of $14.40-14.70 versus analysts’ consensus estimate of $14.64.
UNH fell to $243.60 (-1.80%) in pre-market trading.
JPMorgan Chase (JPM) reported Q4 FY 2018 earnings of $1.98 per share (versus $1.76 in Q4 FY 2017), missing analysts’ consensus estimate of $2.19.
The company’s quarterly revenues amounted to $26.100 bln (+8.1% y/y), missing analysts’ consensus estimate of $26.688 bln.
JPM fell to $98.27 (-2.65%) in pre-market trading.
| Index | Change, points | Closed | Change, % |
|---|---|---|---|
| Hang Seng | -368.94 | 26298.33 | -1.38 |
| KOSPI | -11.05 | 2064.52 | -0.53 |
| ASX 200 | -1.2 | 5773.4 | -0.02 |
| FTSE 100 | -63.16 | 6855.02 | -0.91 |
| DAX | -31.55 | 10855.91 | -0.29 |
| Dow Jones | -86.11 | 23909.84 | -0.36 |
| S&P 500 | -13.65 | 2582.61 | -0.53 |
| NASDAQ Composite | -65.56 | 6905.92 | -0.94 |
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