Wall Street shares increased further
Wall Street kept its move upwards on Wednesday. The Dow Jones advanced by 0.83% or 286.01 points to 34,798.00. Meanwhile, the selective S&P 500 increased by 0.82% or 35.63 units to 4,358.69.
The Nasdaq gained 0.92% or 133.08 points and ended at 14,631.95.
The main Wall Street indices ended Tuesday with clear rises. The Dow Jones had recovered by 1.62%, offsetting a significant part of the losses, when it had suffered its worst session in 8 months.
The main New York indicator is once again near the all-time high it had reached last week.
As for the S&P 500 index, it has gained 15.1% for the year so far, on optimism about a stronger recovery.
A good number of analysts considering the robust recovery of the US economy has fueled strong growth in the stock market.
Energy companies gained more than 3%, supported by the rebound in oil prices. WTI ended the day with an increase of 4.59%, surpassing $70 a barrel.
The oil company Chevron led the gains among the 30 Dow Jones stocks surging 3.40%. Boeing followed it with a rise of 2.54%, and Goldman Sachs advanced by 2.39%.
Company earnings beat expectations
Coca-Cola presented good quarterly results and improved its expectations for the rest of the year. The company ended the session with a 1.25% rise. Meanwhile, Verizon gained 0.65% after making public accounts that also convinced investors.
Johnson & Johnson, which also performed better than expected, closed the session adding 0.55% despite starting the day in the red.
Meanwhile, the market reacted much worse to Netflix accounts, released on Tuesday after the closure. The streaming platform dropped by 3.28% today.
In general, the wave of quarterly results, which started last week, already exceeds high expectations thanks to the rebound in the activity that has lifted most of the restrictions against covid-19 in the United States.
Seoul rebounds after four consecutive declines
The Kospi rebounded after four days down due to the global rise in COVID-19 infections. The main index of the Seoul Stock Exchange climbed by 1.07% or 34.3 points to stand at 3,250.21.
After four days in a row closing in red, the Kospi today remained on the green the whole day thanks to the bargain hunting.
Again, foreign and institutional investors were net buyers, with a combined net worth of about 868 billion won or about $755 million. The main South Korean companies were also encouraged by the prospect of good business results in the second quarter.
The technological Samsung Electronics gained 1.53% today. Meanwhile, SK Hynix, the second-largest chipmaker in the country, advanced by 2.14%.
Naver, the operator of the main national internet search engine, grew by 2.8%. Kakao, the company behind the largest South Korean messaging application, rose by 1.72%.
In contrast, in the biopharmaceutical sector, Samsung Biologics lost 1.89%. However, its competitor Celltrion climbed by 0.75%.
Hyundai Motor, the largest South Korean automaker, increased by 0.22%.
