The stock exchanges in New York left a plus side on the Wednesday. Wall Street remained focused on the trade tensions between China and the United States and the continued shutdown of the American government. There was also the important company news.
The leading Dow-Jones index ended 0.7 percent higher at 24.575.62 points. The broad S & P 500 went up 0.2 percent to 2638.70 points and technology exchange Nasdaq won 0.1 percent to 7025.77 points.
The skirmishes around the US government budget went into a new phase. The Democratic speaker of the House of Representatives, Nancy Pelosi, will not allow President Donald Trump to “keep a throne” in the House as long as the shutdown continues. She writes in a letter that she does not allow Trump to keep his speech until the problems surrounding government funding have been resolved.
Ye olde IBM
Technology company IBM came up with better-than-expected figures and prospects, aided by cloud services, and rose 8.5 percent. Manufacturer of care products Procter & Gamble (plus 4.9 percent), known from Pampers, Ariel, Braun and Gillette brands, recorded its sales forecasts for the entire financial year. Kimberly-Clark, maker of Kleenex and Huggies, made disappointing performances in the books and lost 2.7 percent.
Industry group United Technologies, manufacturer of, among other things, aircraft engines, reported strong revenue growth and showed good expectations. The share rose 5.4 percent. Restaurant Brands International (plus 9.8 percent), parent company of, among others, Burger King, also came up with figures and announced a new CEO. Cable TV company Comcast (plus 5.5 percent) and pharmaceutical Abbott Laboratories (minus 2.2 percent) also gave a glimpse into the books.
Tesla dropped nearly 4 percent. The electric car builder has reduced the production of different models. As a result, worries about the demand for the more expensive and profitable cars are re-emerging.
Internet merchant eBay announced that it would carefully study the proposals of activist shareholder Elliott Management. The share was lowered 0.9 percent after a substantial price gain a day earlier. Elliott called in a letter to the board to thoroughly examine the activities.
The euro was worth $ 1,1382, against $ 1.1389 at the end of the European stock exchanges. The price of a barrel of American oil fell 0.8 percent to 52.62 dollars. Brent oil cost 0.6 percent less, at 61.11 dollars per barrel.