announced American banks Its profits rose during the third quarter of the year, as US stock indices rose, with the Dow Jones Industrial Average jumping more than 550 points, and the Nasdaq index recording an increase of 3.43%, in its best day since last July.
After achieving 4 weekly losses in the last five weeks, the S&P 500 Index benefited from earnings data Good news issued today, Monday, rose by 2.65%, moving away from its lowest levels this year, and taking advantage of positive developments in Britain, after the government canceled the tax exemption plan within its “mini-budget”.
Before the start of trading on the first day of the week, Bank of America announced that it achieved better profits than ExpectationsIts stock jumped 6%. And on the same path, Bank of New York Mellon stock, which rose by 5%, followed its announcement of profits that exceeded analysts’ expectations.
This week, the market is also preparing to receive the results of the work of some major technology companies, led by Netflix, Tesla and IBM.
In a related context, gold prices rose more than 1%, today, Monday, benefiting from the decline in the dollar price and Treasury yields, despite continued expectations that the Federal Reserve would keep interest rates at elevated levels for some time.
The price of the precious metal exceeded $ 1661 an ounce, and US gold futures jumped 1.1% to $ 1667.60, after causing dollar depreciation Falling Treasury yields make gold less expensive for buyers outside the United States.
It is noteworthy that gold prices have fallen by more than 20% since it crossed the barrier of two thousand dollars an ounce last March.
Despite the high tone sparring Between the United States on the one hand, and Saudi Arabia and its supporters on the other hand, against the backdrop of the OPEC + decision two weeks ago to reduce its production, oil prices stabilized at $91.86 per barrel of the benchmark Brent crude, and the price of US West Texas crude remained close to its level, on Friday, recording the price of $85.65 a barrel at the close of trading on Monday.