The Dow Jones Industrial Average surged more than 750 points as Wall Street bet markets are due for a relief rally.
 | TUE, JUL 19, 2022 | | | |
| DOW | | NAME | LAST | CHG | %CHG | | AAPL | 151.00 | +3.93 | +2.67% | | INTC | 40.22 | +1.51 | +3.90% | | IBM | 130.88 | -7.25 | -5.25% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AMD | 85.88 | +4.45 | +5.46% | | AAPL | 151.00 | +3.93 | +2.67% | | NVDA | 169.92 | +8.91 | +5.53% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AMD | 85.88 | +4.45 | +5.46% | | AAPL | 151.00 | +3.93 | +2.67% | | NVDA | 169.92 | +8.91 | +5.53% | |
| |
|
The Dow Jones Industrial Average surged more than 750 points on Tuesday, as Wall Street bets that markets are due for a relief rally. A Bank of America survey of professional investors found that the allocation to stocks in portfolios is at its lowest since October 2008, one month after the collapse of Lehman Brothers. Meanwhile, cash holdings are at their highest since 2001. The participants' bearishness suggests that the sellers are washed out, and stocks may rise from here. Traders were also positive on the succession of corporate earnings reports that showed businesses are working through economic pressures better than feared. "Both investors and the companies were expecting hot inflation, so companies talking about hot inflation having happened in that second quarter was not a surprise at all," said Kim Forrest, founder and chief investment officer at Bokeh Capital Partners. "What was a surprise was that they were able to manage through it well." |
A stronger dollar also increasingly weighed on second-quarter results for some companies. Shares of IBM fell nearly 5.3% after the tech giant lowered its cash flow forecast, even as it reported earnings that beat Wall Street's estimates. Finance chief Jim Kavanaugh blamed the U.S. dollar and a suspension of business in Russia. Johnson & Johnson also cited a stronger dollar after cutting its full-year revenue and profit guidance despite robust results. Shares declined about 1.5%. "Trading is likely to remain very choppy, with more bear market rallies, in the months ahead," Wolfe Research's Chris Senyek wrote in a Tuesday note. |
|
|
|
Tidak ada komentar:
Posting Komentar