Wall Street dressed in green again of the advances and consummated his fourth consecutive session of gains. The pull in the sector activity indices contributed to the continuity of purchases, which translated into new all-time highs with the Dow Jones above 35,000 points for the first time on a weekly close.
Especially positive for the direction of the New York parquet was the Manufacturing PMI, which in its advanced reading for July reaches 63.1 points for the US economy. Above the previous month and above the consensus forecasts of economists.
A boost that carried over to the bulk of the Wall Street benchmarks. The Dow Jones it added 0.68% to score a new historical ceiling at 35,061.5 points. 1.01% scored the S&P 500, which reached 4,411.79 points. The technological Nasdaq It went from being the weakest to the most solid in the advances: 1.04% up at the close, at 14,836.99 points.
This is how Eduardo Bolinches opens Wall Street
Although it remained in expansive territory, the index that did not do so well this Friday was the Service sector PMI, which fell to 59.8 points. A reading significantly lower than the 64.8 points expected by analysts.
This setback had a direct impact on the composite PMI, which stood at 59.7 points. A record four points lower than a month ago.
Through the corporate field, this Friday was Twitter one of which quoted quarterly accounts. Shares of the social network rose 3.1% after announcing an increase in revenue of 74.1%. A jump that contributed to achieving a net profit of 65.6 million dollars compared to the losses of 1,378 million a year ago.
Somewhat smoother were the advances of American express, since at the close they remained at 1.4%. The credit card issuer was able to exceed estimates for profits ($ 2.3 billion) and revenue thanks to a “robust” spending recovery as a result of the progressive social reopening.
Beer and cars
Very different was the session for Boston Beer Company. Shares of the maker of Adams beers and other alcoholic beverages sank 26% after having posted quarterly numbers well below estimates. So much so that even its board of directors withdrew its guidelines for the whole of the year on Friday.
The Chinese manufacturer of electric vehicles Child was left 4.5% after having announced that several of its reference shareholders opened a placement of 1.68 million shares. Quasar Energy Partners, Philipp Brothers Fertilizer and Little Brothers were the leading funds in this movement that penalized their listing.