The Dow Jones Industrial Average rose more than 500 points today, boosted by strong earnings forecasts.
At 10:56 p.m. Thai time, the Dow Jones Industrial Average stood at 31,5842.54, up 509.93, or 1.64%. However, the share price rose in all groups. led by industrial stocks
Johnson & Johnson’s (J&J) share price jumped following it revealed the company’s second-quarter profit and revenue beat analyst expectations. And investors still keep an eye on the disclosure of listed companies’ earnings. The company will report earnings following the market close today.
About 9% of the companies in the S&P 500 have reported second-quarter results, of which 66% of those have reported higher-than-expected profits.
The analysts predicted that Companies in the S&P 500 index will see profits up 4.2% in the second quarter, while revenue is up 10.2% and profits up 9.9% this year.
The disclosure of US economic numbers today. The US Commerce Department said Homebuilding starts fell 2 percent in June to 1.559 million units, the lowest level since September 2021. And lower than analysts’ forecast of 1.580 million units from 1.591 million units in May.
Meanwhile, home-building startups have been affected by the surge in mortgage interest rates. and the price of building materials including labor shortages
