Dow Soars 800 Points: Wall Street’s Epic Rebound Takes Off!
The Dow Jones Industrial Average, simply known as the Dow, is a stock market index of 30 listed companies on the stock exchange in the USA. The Dow Jones recently rose by 2% or 760 points on Wall Street. The S&P 500 index and the NASDAQ also rose and saw a growth of 2% and 2.26% respectively during the opening factories.
Major companies including Google’s parent Alphabet, Boeing, and Tesla will announce their first quarter earnings. The NYSE FANG+ share price has seen a rise of 2.5% or 270 points and is trading at 11,122 level.
For investors, the earning season has just begun and so far everything is going well for them. So far, 12% of S&P 500 firms have reported their first quarter earnings. But among these, more than 70% companies have recorded higher than expected EPS. So far, earnings have been 6.1% higher than estimates. If the quarterly actual growth rate increases to 7.2%, this will be the 7th consecutive quarter of year-on-year earnings growth for the S&P 500 index.
According to reports, earnings are still lower than the 5-10 year average. Tesla will announce its result today at market close. All major tech stocks will be kept in focus as their shares have seen a decline this year.
Meanwhile, Trump called Federal Reserve Chairman Jerome Powell “Mr. Too Late” and “Major Loser” because the central bank did not cut interest rates at such a time, but other major economies had already started cutting. Trump says – there is “virtually no inflation” present in the economy.
