New York: S & P 500 and Nasdaq rose on Thursday, extending record lines closed with six sessions, because Chip stocks surged after financial estimates and investors Qualcomm digested the decision of the Federal Reserve to start reducing monthly bond purchases.
The average Dow Jones industry posted lean losses, ending the record closed at the age of four.
Decreasing shares of Bank JPMorgan Chase & Co and Goldman Sachs Group weighed on the Blue-Chip index.
Finance fell 1.3%, most of the S & P 500 sectors, because the results of the US Treasury fell, with the market which loosened the expectation of the Fed interest rate hike faster a day after the central bank signaled it in no hurry to do so.
“The market growth side sees more positive results at this time because they benefit from a decrease in developing results,” said Matthew Poor, investment strategist together in John Hancock Investment Management.
“The market has positioned higher results.
In general, considering the Fed announcement to tap.
When we walk today, there has been a reversal in that matter.” Dow Jones Industrial Average fell 33.35 points, or 0.09%, to 36,124, 23, S & P 500 rose 19.49 points, or 0.42%, to 4,680.06 and the Nasdaq composite added 128.72 points, or 0.81%, up to 15.940.31.
The S & P 500 growth index rose 1.2% while the S & P 500 value index fell 0.5%.
Among the S & P 500 sectors, the wisdom of technology and consumers lead, both of them rose around 1.5%.
Qualcomm shares jumped 12.7% as companies estimate better profits and income than expected.
The current quarter is about guiding requests for chips used on mobile, cars and other internet connected devices.
The Philadelphia SE semiconductor index rose 3.5%, with Nvidia soaring 12%.
A third quarter earnings that are better than estimates have helped lift sentiment for equity.
With around 420 companies that report, the S & P 500 revenue is expected to increase by 41.2% in the third quarter of the previous year, according to Refinitiv Ibes.
“The company’s income story remains quite bright,” said Craig Fehr, an investment strategist at Ed Ward Jones.
“The market gave a company award that beat and increased their views, and the market punished companies that lost their estimates in the quarter and more importantly, perhaps, signifying more sour prospects.” Modernum stocks fell around 18% because the company cut the estimated sales of 2021 for the Covid-19 vaccine as much as $ 5 billion, wrestling to fill the bottle and distribute it to meet unprecedented world demand.
Modernum shares burden the S & P 500 health sector, which fell 0.8%.
Data shows the number of Americans who filed new claims for unemployment benefits fell to the lowest level in almost 20 months last week, showing the economy regaining momentum.
Investors will get a critical view of the economy with a monthly work report on Friday.
The problem declining exceeds the advanced amount on the NYSE with a 1.12-to-1 ratio; On the NASDAQ, the ratio of 1.24-to-1 is preferred by the decliner.
The S & P 500 posted 75 highs of 52 weeks and five new lows; The Nasdaq composite recorded the highest 24 new and 38 new lows.
About 11.3 billion shares changed hands in US exchanges, above the average 10.4 billion daily for the last 20 sessions.