06.12.2022

US indices updated records amid reports and statistics

American stock indices rose on Friday, having updated records, amid reports from banks and internal statistics, according to trading data .

The DJIA index increased by 0.13%, to 22871.72 points, the NASDAQ Composite index of high-tech companies – by 0.22%, to 6605.80 points, the S&P 500 broad market index – by 0.09%, to 2553.17 points …

The Michigan Consumer Sentiment Index, which reflects the degree of household confidence in the US economy, rose to 101.1 points in October, from 95.1 points in September, according to the university. At the same time, analysts, on the contrary, expected the indicator to drop to 95 points.

It became known on Friday that the net profit of Bank of America Corp for the third quarter increased by 13%, to 5.587 billion dollars, or 0.48 dollars per share against 0.41 dollars a year earlier. Analysts had expected earnings of $ 0.45 per share.

The other largest US banking group , Wells Fargo, cut its quarterly profit by 19% to $ 4.596 billion. The group’s diluted net income per share was $ 0.84 versus $ 1.03 a year earlier. Analysts had forecast the figure at $ 1.03 per share.

Meanwhile, on Friday, US President Donald Trump refused to officially confirm to Congress that Iran is complying with the agreement on the nuclear program, but at the same time did not internationally challenge Iran’s compliance with the agreements on the nuclear deal. Trump also said the White House would work with Congress on “serious flaws” in an international agreement with Iran, and promised that the US would impose new sanctions against Iran for supporting terrorism.

“There is no reason to sell. Just sit and watch. Everything is getting more expensive and this is why trading volumes are so low,” Charles Schwab managing director Randy Frederick told MarketWatch.

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