The main indices of Wall Street They rose to all-time highs on Tuesday as the strong earnings season continued to build confidence in equities as investors watched for the outcome of a Federal Reserve meeting.
The actions of Pfizer rose after the drugmaker said it expected sales in 2021 of the Covid-19 vaccine it developed with its German partner BioNTech will reach $ 36 billion.
Overall, US business earnings in the third quarter have been better than anticipated as the economy continues to recover from the coronavirus pandemic.
With some 320 companies reporting so far, earnings from the year are expected to S&P 500 have increased 40.2% in the third quarter compared to a year ago, according to Refinitiv IBES.
“From a fundamentals standpoint, the performance of the equity markets as a whole has a strong underpinning,” said Bill Northey, chief investment officer at US Bank Wealth Management.
“The next few days and weeks will include significant advances on the political front, and we are watching this very closely because as we exit the earnings reporting season, many of the macroeconomic factors will begin to take center stage again,” added.
The S&P 500 gained 16.98 points, or 0.37%, to 4,630.65 units, while the Nasdaq it was up 53.68 points, or 0.34%, to 15,649.60. The Promedio Industrial Dow Jones advanced 138.79 points, or 0.39%, to 36,052.63 units.
All three indices reached intraday highs during the session.
The transport index Dow JonesEconomically sensitive, it soared to an all-time high, fueled by the rise in Avis Budget shares after the car rental company released its results.
It is expected that the Federal Reserve (Fed) announced plans Wednesday to reduce its $ 120 billion monthly bond purchase program, launched to help the economy during the pandemic.
Investors will also focus on comments on interest rates and the recent acceleration in inflation.
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Reference-www.eleconomista.com.mx