The main stock indices of the US market operate with gains this Thursday morning. The prices in wall street advance despite a weak figure for the US economydriven by good quarterly results from issuers, led by Meta Platforms.
The index S&P 500, which groups the main shares of the US market, moved 0.59% to 4,208.83 points. main index dow jones, made up of titles from 30 industrial giants, gained 0.27% to 33,391.79 points. The nasdaqfrom large technology companies, rose 0.61% to 12,565.19 units.
The US Department of Commerce reported this morning a contraction of the Gross Domestic Product (GDP) of 1.4% in the first quarter of the year. Although the impact of external factors was expected, the figure surprised the market. However, prices today seem to react more to reports.
Among the issuers, the most notable reaction is observed in the shares of Goal (Facebook parent company), which have soared more than 10% since the pre-opening. The company reported first-quarter EPS of $2.72 after the close yesterday, up from $2.56 that was anticipated.
“The US economy fell 1.4% in the first quarter, with preliminary data, against the expected growth of 1.1 percent. It is a significant drop, compared to the advance of 6.9% in the 4Q of 2021. However, the Meta report came to calm the market,” explained eToro.
But it is not only about Meta, other actions that rise solidly after presenting quarterly figures are those of Qualcomm (with more than 3.5%), as well as those of Nvidia and Advanced Micro Devices (with movements that became more than 3% ). Its figures exceeded the bad expectations of analysts.