Another
step in the recovery from this summer’s equity meltdown occurred Monday
as an advance in U.S. stocks pushed the Nasdaq 100 Index above its July
high and toward record territory.
The
index’s 1.1 percent advance Monday moved its rally from an August
trough to 17 percent, making it the first major index of U.S. stocks to
retake a multiyear high established earlier in 2015. As of Monday’s
close, the Standard & Poor’s 500 Index was more than 1 percent from
its May 21 peak of 2,130.82, while the Dow Jones Industrial Average was
more than 2.5 percent away from its last record.
Gains
in the index have come in its biggest computer and software companies.
Since the Aug. 25 low, Amazon.com Inc. is up 35 percent, Intel Corp. has
rallied 32 percent and Facebook Inc. has jumped 24 percent. The index’s
biggest member, Apple Inc. with a 12.9 percent weighting, has jumped 17
percent.
The
S&P 500 added 1.2 percent to 2,103.94 at 4 p.m. in New York, rising
to within 1.3 percent of its record set in May. The Dow Jones
Industrial Average gained 164.88 points, or 0.9 percent, to 17,828.42.
More
than 100 companies in the S&P 500 are scheduled to announce
earnings this week. Of those that have released results this season,
about 75 percent exceeded profit projections, while 55 percent missed
sales forecasts. Analysts estimate earnings dropped 3.9 percent in the
third quarter, up from predictions for a 6.1 percent decline a week
earlier.
Source: Bloomberg
0 komentar :
Post a Comment