Wall Street set new records, but Apple and Amazon quarterly results sent the futures market crashing.

source: celebritynews.fuzzyskunk.com

Led by the Nasdaq and S&P 500 indices, stocks in the United States rose during the day. However, the numbers exposed by those two companies disappointed investors.

On Thursday, stock prices rose on the New York Stock Exchange, and indices broke their previous records, even as growth in the US economy slowed in the third quarter. However, the negotiations after the market closed reacted negatively to the presentations of results of Amazon and Apple.

The e-commerce giant achieved a net profit of 19,041 million dollars in the first nine months of 2021, an increase of about 35% compared to the same period of the previous year, with accounts still driven by the substantial rise in its business during the pandemic.

Meanwhile, sales of iPhone phones, especially the most recent model, the iPhone 13, and the excellent performance of the digital services segment helped Apple to shoot its profits this year by 65 percent.

Despite those numbers, in the futures market, the shares of both companies were retreating as investors expected better results. Despite the positive figures, the company warned that the problems in the supply chain that are being experienced worldwide would probably affect the availability of its products in the coming months, which will imply a reduction in sales.

According to data at the end of the New York Stock Exchange session, the S&P 500 rose 0.98%, to 4,596.42 points, and the Nasdaq grew a remarkable 1.39%, to 15,448.12 points. The Dow Jones of Industrials advanced 0.68% and stood at 35,730.48.

High-profile stocks like Tesla Inc, Apple Inc, and Amazon .com Inc boosted the Nasdaq. They helped the index close at a record high after the S&P 500 and Dow had done so earlier in the week.

Caterpillar Inc rose after reporting a better-than-expected quarterly profit on rising commodity prices. At the same time, a bullish outlook from drugmaker Merck & Co Inc helped its shares.

Investors were also keeping an eye on Washington, where President Joe Biden said he had secured a new $ 1.75 trillion framework for spending on infrastructure and climate change.

" The earnings are still outstanding, " said Bill Stone, chief investment officer at Glenview Trust Co. He also noted that the Biden framework, if successful, would not raise corporate taxes as investors had feared.

" On the surface, that's good for corporate earnings," in the future, Stone said.

The yield on 10-year US Treasuries rose from 1.53% to 1.56%. The banking sector, which benefits from high returns, was prospering. Bank of America advanced 1.5%.