(News Bulletin 247) – Faced with mixed corporate publications, the New York Stock Exchange ultimately hardly benefited on Tuesday from solid growth in China. The Dow Jones finished just below its balance at 33,977 points, as did the Nasdaq Composite at 12,153 points.
The Chinese economy recorded growth of 4.5% in the first quarter of 2023 on an annual basis, defying forecasts of a more limited increase in activity, thanks to an improvement in household demand against a backdrop of post-opening Covid.
“We expect growth momentum to remain robust in the second quarter as normalization continues. Beyond that, the recovery in the second half will depend on the improvement in confidence in the private sector,’ reacted Commerzbank.
To this good news from Asia, were added some well-received quarterly publications, namely those of Bank of America (+0.6%), BNY-Mellon (+1.4%) and Lockheed Martin ( +2.4%).
On the other hand, Goldman Sachs dropped 1.7% following the announcement by the investment bank of a profit that was certainly better than expected in the first quarter, but with revenues well below the consensus.
Investors also recently welcomed the publication of Johnson & Johnson (-2.8%) which nevertheless revised its objectives for 2023 upwards after having done better than expected in the first three months of the year.
In addition, the Commerce Department reported a 0.8% decline in housing starts in the United States in March, a less pronounced decline than expected, but above all in building permits, which fell by 8, 8%, slightly missing the consensus.
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