(Reuters) – The New York Stock Exchange opened higher on Friday as strong earnings from Apple outweighed concerns over the banking sector, while a U.S. jobs report dampened expectations of a job cut. rate from the Federal Reserve.
In early trading, the Dow Jones index gained 318.27 points, or 0.96%, to 33,446.01 points and the broader Standard & Poor’s 500 rose 0.94% to 4,099.23 points.
The Nasdaq Composite took 0.92%, or 110.41 points, to 12,076.81.
The giant Apple, the largest American company in terms of stock market value, invites optimism after publishing quarterly results on Thursday above expectations thanks to higher-than-expected iPhone sales.
The title of the apple group climbed 4.4% at the opening.
Microsoft, another of the main values ​​of the New York rating, had already reported at the end of April a quarterly turnover higher than expected, which shows the resistance of the sector.
Investors learned shortly before the open that the U.S. economy added 253,000 jobs in April, more than expected, and wage growth accelerated, a development that could prompt the Federal Reserve to hold rates interest at a high level.
The Fed Chairman, who raised his interest rate by 25 basis points this week, said it was too early to say with certainty that the rate hike cycle was over.
Apple’s performance has helped to mitigate, at least for now, renewed pessimism about the US banking sector, which is catching its breath on Friday after a difficult week following the collapse of First Republic Bank in course last weekend.
The White House has also promised to monitor the pressures exerted by short selling on healthy banks, a source familiar with the matter said Thursday.
The American regional bank PacWest, which fell more than 50% on Thursday, took 44% on Friday at the opening.
Ride-hailing group Lyft, which said Thursday it expects its second-quarter margins to be hit by price cuts aimed at competing with rival Uber, lost 15%.
(Written by Diana Mandiá, Editing by Kate Entringer)
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