Dow gets back to positive territory

Dow gets back to positive territory

On Thursday, the Dow got back to positive territory for the year, offsetting losses from yesterday’s rout, led by soaring tech equities because bargain-hunting traders rushed to beaten-up equities on the back of reassuring earnings.

As a matter of fact, the Dow Jones Industrial Average leapt by nearly 1.63%. As for the S&P 500, it managed to gain by 1.86%. At the same time, the Nasdaq Composite surged by 2.95%. Firm profits for the Dow as well as Nasdaq saw both indexes dodged correction territory.

Well, the major averages managed to dodge correction territory due to the fact market participants considered the rout from a day earlier to be a buying opportunity.

On Wednesday, Microsoft reported profits after the settlement that handily surpassed analyst expectations on both the top as well as bottom lines, thus sending its equities up by 6%. As for Twitter, it managed to surge over 15% having surpassed consensus profit forecasts.

In addition to this, Tesla demonstrated a striking third-quarter gain, although some on Wall Street tamed upbeat mood, questioning whether it’s as good as it gets for the well-known electric car maker.

Tesla's exposure to China levies on imported components as well as its offering of lower-priced cars would probably have margins compressed in the fourth quarter.

Chip producer Advanced Micro Devices tamed optimism on profits after it guided fourth-quarter gains below consensus forecasts. Its equities headed south by nearly 15%.

Chipmakers generally rallied, with top performers including, Nvidia, Micron Technolgoy and Intel. Besides this, the SPDR S&P Semiconductor headed north by over 2%, compensating some losses from yesterday, when the sector faced its worst dive since November 2018.

By the way, Xilinx, Twitter as well as International Paper turned out to be the S&P 500 top performers for the trading session.


Latest news

USD strengthened as optimism waned
USD strengthened as optimism waned

The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.

Stocks up, USD down
Stocks up, USD down

S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


Manager will call your number

Correct number

Your request is accepted

Manager will call your number

Next callback request for this phone number
will be available in {time}

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera