Wall Street opens with higher records from healthcare and industrial sectors

Wall Street opened stronger on Thursday as Biogen reported higher-than-expected results and Caterpillar ’s share took a nosedive, as Reuters reported.

The drug manufacturer, Biogen ’s share, was up 0.66 percent after posting four-quarter revenue that exceeded analysts’ estimation, thanks to the solid sales performance of recently-launched medicine Spiranza. While heavy equipment maker Caterpillar ’s stock dropped 1.03 percent after rising around 2.8 percent.

The stock market suffered a considerable blow on Wednesday due to a 0.9 percent drop in tech stocks.

Meanwhile, Nasdaq was down 0.6 percent to 7.415,06, thanks to a 1.6 percent decline in Apple stock after analyst Bernstein Toni Sacconaghi estimated that sales of Apple ’s iPhone could weaker in this spring.

Several analyst firms also expressed their doubts over iPhone’s sales growth this year. J.P Morgan, for example, forecasts a 50 percent plunge in sales of Apple’s iPhone X.

Nevertheless, Dow Jones Industrial Average ended 41.31 points higher at 26.252,12. The leading index has risen 6 percent throughout January 2018 due to robust revenue and a lower tax that helps to stabilize the economy, despite weakening in the last two days.

Ross’ comment on trade war

Another factor that lowered stock market is U.S Trade Minister Wilbur Ross comment on World Economic Forum (WEF) held in Davos, Switzerland from Jan.23 to Jan.26 that the U.S authority is still investigating whether it will take strict action against intellectual property rights violation conducted by China.

Ross’ employer President Donald Trump is expected to address the Davos forum on Jan.25.

Dow Jones Index finally recovered because most investors tended to wait for concrete action in the trading session and get involved in the market that had not been corrected 5 percent in the last 400 days.

Previously on Tuesday, Netflix’s satisfying achievement helped to boost S&P and Nasdaq. The video streaming provider’s stock jumped 10 percent, lifting the company’s market cap to reach above $100 billion for the first time.

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