Stocks to one-month high – Goldman up

The US stock markets continued their upward trend and the shareindexes reached one-month high during Wednesday trading. Two big financial companies, Goldman Sachs and Bank of America, both exceeded their earnings estimates.

Goldman Sachs reported its full year and fourth quarter earnings and according to the report, the group´s net revenues were 36,62 billion dollars and net earnings 10,46 billion dollars for the whole year 2018. The company shares jumped and lifted also Dow Jones- index and the banking sector as well.

-We are pleased with our performance for the year, achieving stronger top and bottom line results despite a challenging backdrop for our market-making businesses in the second half. For the year, we delivered double-digit revenue growth,
the highest earnings per share in the firm’s history and the strongest return on equity since 2009. We are confident that we are well positioned to support an even larger universe of clients, continue to diversify our revenue mix and deliver
strong returns for our shareholders in the years ahead, David Salomon, the CEO and Chairman of the Group said.

Dow Jones index ended up 0,90 % to 24 282 points, S&P 500 -index 0,41 % to 2623 points and Nasdaq ended up 0,39 % to 7051 points.

In London, where the UK Goverment won the confidence vote, FTSE ended down 0,47 % to 6862 points. The voting started at 7 pm local time. In Germany the DAX-index ended up 0,36 % to 10 931 points and in France the CAC-index ended up 0,51 % to 4810 points.

In Asia the Nikkei-index traded down 0,55 % to 20 442 points, while in Hong Kong the Hang Seng index ended up 0,27 % to 26 902 points.

 

Business Finance

Stocks mixed in Wall Street – Dell returned to the markets

The US stocks were mixed on Friday trading in Wall Street. The Dow Jones index was down 0,52 % to 23018 points, but the Nasdaq-index ended up 0,08 % to 6584 points. Larger S&P 500 index ended down 0,13 % to 2485 points.

Technology-company Dell Technologies (DVMT) returned to the markets, when its listing started again. The shares were listed in NYSE after six years as a private company. During Friday, the banking group Wells Fargo (WFU) announced that it will pay 575 million dollars to the state as settlement of phony accounts and customer abuses.

The e-cars manufacturer Tesla (TSLA) announced two new board members as part of the SEC settlement. The Oracle co-founder Larry Ellison and HR director Kathleen Wilson-Thompson will join the board. Tesla shares gained after the news. California is also the first US state to mandate women in boards.

In Europe the stocks gained and for example in London the FTSE 100 -index rose 1,89 % to 6653 points. In Germany the DAX-index ended up 1,71% to 10558 points and in France the CAC 40 index ended up 1,74 % to 4678 points.

In Asia stocks were mixed. In Tokyo the Nikkei-index ended down 0,31 % to 20014 points, while in Hong Kong the Hang Seng index gained 0,10 % to 25504 points.

Euro was trading slightly up 0,20% at 1,14 dollars and the UK sterling 0,47 % up to 1,27 dollars.

Brent oil, ICE, was up 0,08% to 52,20 dollars per barrell.

The year 2018 has been very downside trend for the global stocks and according to Bloomberg this year has been the worst year since 2008.

The volatility is expected to continue in 2019. On the agenda there is for example the Brexit vote, USChina trade talks, US Goverment shutdowns and the monetary policies of central banks.

Business Finance