The stock markets in New York are expected to face a higher opening on Wednesday. Better-than-expected figures on China’s economic growth seem to be pushing up markets. Investors on Wall Street also received quarterly results from a number of large companies.
Beijing presented figures on economic growth, industrial production and retail sales in the People’s Republic that were better than average economists had expected. Earlier, disappointing growth figures from the Asian country were the reason for pessimism about global growth.
Chipmakers, who are sensitive to news about economic developments in China, are heading for a higher opening. Before, Intel, AMD, NXP and Nvidia were up to 4.5 percent. Another chip company, Qualcomm, also benefits from an agreement with Apple. The two companies this week put an end to their years of arguing about patents.
Snack and soft drink giant PepsiCo opened the books and was able to present a higher quarterly profit and turnover. Snacks and light drinks in particular produced good results from the maker of Pepsi, Doritos and Lays, among others.
Prospects at Netflix may give investors cause for concern. Due to price increases, the video streaming service expects a dip in the growth of new subscribers, just as film and media giant Disney is coming with a competitive platform. Technology group IBM had a disappointing start to the year, in which revenue and profit fell.
Morgan Stanley investment bank closed the first three months with a lower profit, partly due to lower income from trading in bonds. CEO James Gorman nevertheless spoke of solid results. The medical company Abbott Laboratories also opened the books. After the closing bell, aluminum producer Alcoa comes with numbers.
The price signs in New York were green on Tuesday at the end of the trading session. The Dow-Jones index closed 0.3 percent higher at 26,452.66 points. The broad S&P 500 rose 0.1 percent to 2907.06 points. Tech degree meter Nasdaq rose 0.3 percent to 8000.23 points.