US equity markets were on a collision course with all-time highs on Friday as they climbed for a fourth straight session.
|Me: DJI||MEDIUM DOW JONES||34965.29||+141.94||+0.41%|
|I:COMP||NASDAQ COMPOSITE INDEX||14717.21512||+32.62||+0.22%|
The Dow Jones Industrial Average gained 173 points, or 0.5%, while the S&P 500 and Nasdaq Composite rose 0.46% and 0.31% respectively. The top three averages ended Thursday’s session less than 0.5% of their respective records.
In stocks, Intel CEO Pat Gelsinger told the Wall Street Journal that the global chip shortage could extend until 2023. The shortage, which was the result of lockdowns aimed at slowing the spread of COVID -19 boomed auto production and caused supply chain dislocations in other industries, including cellphones and consumer electronics.
|AXP||AMERICAN EXPRESS CO.||177.12||+6.21||+3,64%|
In terms of profits, the Dow American Express Co. component said its revenue jumped 33% from a year ago as consumer spending surpassed pre-pandemic levels. The credit card giant freed up $ 866 million in reserves that had been built up to protect against losses during the pandemic.
Twitter Inc. topped Wall Street estimates for revenue and revenue, with revenue increasing 74% year-over-year, the fastest since 2014. The number of Monetizable daily active users increased 11%.
Snap Inc. beat profits and revenues as the number of daily active users worldwide rose to 293 million, up almost 5% from the previous quarter. The social media company is forecasting revenue growth of 58% to 60% in the current quarter, down from the 116% annualized growth in the previous quarter.
|GOOGL||ALPHABET, INC.||2 612,98||+44.55||+1,73%|
|AMZN||AMAZON.COM, INC.||3 642,01||+3.98||+0.11%|
|MSFT||MICROSOFT CORP.||288.10||+1,96||+0,68 %|
Big names in tech including Alphabet Inc., Amazon.com Inc., Apple Inc., Facebook Inc. and Microsoft Corp. are mobilizing ahead of next week’s results reports.
|BA||LA BOEING CO.||221,82||+0.85||+0.39%|
|UPS||UNITED COLIS SERVICE, INC.||212,51||-0,82||-0,38%|
|MA||MASTERCARD, INC.||387,60||+5.08||+1,33 %|
Boeing Co., Tesla Inc, United Parcel Service Inc., Mastercard Inc. and McDonald’s Corp. are among other companies expected to report in the coming week.
In commodities, West Texas Intermediate crude fell 7 cents to $ 71.84 a barrel and gold slipped $ 3.10 to $ 1,802.30 an ounce.
Overseas markets have been mixed with strength in Europe and weakness in Asia.
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European stock markets generally recovered with the French CAC 40 up 1.12%, the German DAX 30 up 0.95% and the British FTSE 100 rising 0.76%.
In Asia, Hong Kong’s Hang Seng index slipped 1.45% and China’s Shanghai Composite fell 0.68%. Japan’s Nikkei 225 remained closed for the holidays.