
The main US stock indexes rose significantly, as the rise in the price of shares in the utilities sector and the technology segment helped to compensate for losses caused by fears about an increase in interest rates.
Looking back at the recent stock market sell-off and concerns over inflation, the Fed said it expects growth to remain stable and that there will not be serious risks on the horizon that could halt the planned rates of interest rate hikes. "Short-term changes in interest rates are the best way to implement policies." The changes in the Fed's guidelines may reduce the need for bond purchases, "the Fed's monetary policy report said." Inflationary expectations may be lower than previously thought. "Low core inflation remains" a mystery "".
Quotes of oil rose by more than 1%, helped by the reduction in production in Libya and optimistic comments from Saudi Arabia that efforts to reduce reserves through oil production constraints are working. Oil reversed early losses after news of the closure of the El Fel oil field in Libya, which produces 70,000 barrels per day. The extraction in Libya, which is a member of OPEC, is about 1 million barrels per day, although it remains unstable due to riots.
Almost all components of the DOW index recorded a rise (28 out of 30). The leader of growth was shares of Intel Corporation (INTC, + 4.21%). Outsider were shares of General Electric Company (GE ,, -0.89%).
All sectors of S & P finished trading in positive territory. The utilities sector grew most (+ 2.3%).
At closing:
Dow + 1.39% 25,309.99 +347.51
Nasdaq + 1.77% 7.337.39 +127.30
S & P + 1.60% 2.747.30 +43.34
U.S. stock-index futures advanced on Friday as the U.S. Treasury yields retreated for the second straight day, with investors also focusing on the speeches of the Fed's policy-makers for their views on the prospects of the interest rates.
Global Stocks:
Nikkei 21,892.78 +156.34 +0.72%
Hang Seng 31,267.17 +301.49 +0.97%
Shanghai 3,289.24 +20.68 +0.63%
S&P/ASX 5,999.80 +48.90 +0.82%
FTSE 7,242.83 -9.56 -0.13%
CAC 5,311.19 +1.96 +0.04%
DAX 12,494.79 +32.88 +0.26%
Crude $62.74 (-0.05%)
Gold $1,331.60 (-0.08%)
(company / ticker / price / change ($/%) / volume)
| 3M Co | MMM | 236.11 | 0.11(0.05%) | 305 |
| ALCOA INC. | AA | 48.25 | 0.24(0.50%) | 1000 |
| Amazon.com Inc., NASDAQ | AMZN | 1,496.50 | 11.16(0.75%) | 77888 |
| AMERICAN INTERNATIONAL GROUP | AIG | 60.25 | 0.29(0.48%) | 1000 |
| Apple Inc. | AAPL | 173.65 | 1.15(0.67%) | 167318 |
| AT&T Inc | T | 36.65 | 0.18(0.49%) | 714 |
| Barrick Gold Corporation, NYSE | ABX | 12.45 | -0.03(-0.24%) | 10760 |
| Boeing Co | BA | 358.11 | 2.19(0.62%) | 3898 |
| Caterpillar Inc | CAT | 160.6 | 1.74(1.10%) | 3870 |
| Cisco Systems Inc | CSCO | 43.22 | 0.28(0.65%) | 31128 |
| Citigroup Inc., NYSE | C | 76.69 | 0.42(0.55%) | 11419 |
| Deere & Company, NYSE | DE | 164.72 | 0.56(0.34%) | 302 |
| Exxon Mobil Corp | XOM | 76.25 | 0.39(0.51%) | 4892 |
| Facebook, Inc. | FB | 180.14 | 1.15(0.64%) | 82891 |
| FedEx Corporation, NYSE | FDX | 248.87 | 3.44(1.40%) | 960 |
| Ford Motor Co. | F | 10.68 | 0.05(0.47%) | 9790 |
| Freeport-McMoRan Copper & Gold Inc., NYSE | FCX | 19.18 | 0.02(0.10%) | 20998 |
| General Electric Co | GE | 14.61 | 0.11(0.76%) | 111727 |
| Goldman Sachs | GS | 263 | 1.57(0.60%) | 8120 |
| Google Inc. | GOOG | 1,114.99 | 8.36(0.76%) | 8569 |
| Hewlett-Packard Co. | HPQ | 22.5 | 1.11(5.19%) | 64249 |
| Home Depot Inc | HD | 186.65 | 1.18(0.64%) | 2795 |
| Intel Corp | INTC | 46.22 | 0.42(0.92%) | 21170 |
| International Business Machines Co... | IBM | 154 | 0.82(0.54%) | 2116 |
| Johnson & Johnson | JNJ | 130.36 | 0.45(0.35%) | 20161 |
| JPMorgan Chase and Co | JPM | 115.56 | 0.58(0.50%) | 5200 |
| McDonald's Corp | MCD | 161.55 | 0.89(0.55%) | 504 |
| Merck & Co Inc | MRK | 54.84 | 0.27(0.49%) | 47331 |
| Microsoft Corp | MSFT | 92.41 | 0.68(0.74%) | 33133 |
| Nike | NKE | 67.25 | 0.12(0.18%) | 604 |
| Pfizer Inc | PFE | 35.97 | 0.23(0.64%) | 72386 |
| Starbucks Corporation, NASDAQ | SBUX | 55.45 | 0.05(0.09%) | 1616 |
| Tesla Motors, Inc., NASDAQ | TSLA | 348.72 | 2.55(0.74%) | 30871 |
| The Coca-Cola Co | KO | 43.56 | 0.04(0.09%) | 1166 |
| Twitter, Inc., NYSE | TWTR | 32.29 | 0.18(0.56%) | 46214 |
| United Technologies Corp | UTX | 133.75 | 0.17(0.13%) | 38723 |
| Verizon Communications Inc | VZ | 48.05 | 0.18(0.38%) | 3930 |
| Visa | V | 121 | 0.62(0.52%) | 1177 |
| Wal-Mart Stores Inc | WMT | 93.25 | 0.48(0.52%) | 28021 |
HP (HPQ) target raised to $27 from $25 at Maxim Group
FedEx (FDX) upgraded to Outperform from Mkt Perform at Bernstein
HP Inc. (HPQ) reported Q1 FY 2018 earnings of $0.48 per share (versus $0.38 in Q1 FY 2017), beating analysts' consensus estimate of $0.42.
The company's quarterly revenues amounted to $14.517 bln (+14.5% y/y), beating analysts' consensus estimate of $13.471 bln.
The company also issues upside forecasts for Q2 and FY2018, projecting EPS of $0.45-0.49 (versus analysts' consensus estimate of $0.44) and of $1.90-2.00 (versus analysts' consensus estimate of $1.81), respectively.
HPQ rose to $22.71 (+6.17%) in pre-market trading.
European stocks closed slightly lower on Thursday, after paring losses into close as U.S. stocks rebounded after upbeat data on the labor market. Stocks had opened in deep negative territory, tracking late-session losses in the U.S. on Wednesday that came after minutes from the Federal Reserve's meeting last month suggested more interest-rate hikes are in the pipeline.
U.S. stock futures climbed Friday, building on gains in the prior session amid signs of an increased appetite for perceived riskier assets such as equities. Dow futures rose 160 points, or 0.7%, to 25,175, while S&P 500 futures gained 14.5 points, or 0.5%, to 2,726. Nasdaq 100 futures rose 32.50 points, or 0.5%, to 6,820.50. The Dow and S&P 500 closed higher on Thursday, inspired by upbeat labor-market data and after St. Louis Federal Reserve President James Bullard tried to cool expectations over faster-than-expected interest rates.
Asian stocks advanced in morning trading Friday, rebounding from broad selling a day earlier, after the Dow Jones Industrial Average reversed some of its midweek pullback. Rebounds are a broad theme across asset classes as the week comes to an end. Oil prices rose about 1.5% Thursday, helping Asian energy stocks Friday, while the yen gained momentum yesterday following its own recent pause.
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