NEW YORK / LONDON (IT BOLTWISE) – The US stock markets have recovered slightly after profit-taking in the middle of the week. The Dow Jones Industrial rose 0.1 percent, while the S&P 500 rose 0.4 percent. Particularly notable was the 7.0 percent increase in Honeywell shares after the company raised its annual outlook.
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After a period of profit-taking in the middle of the week, the US stock markets were able to gain slightly again on Thursday. The Dow Jones Industrial, an important indicator of the US economy, rose 0.1 percent to 46,635 points. The S&P 500, which tracks the performance of the 500 largest listed US companies, rose by 0.4 percent to 6,724 points. The technology-heavy NASDAQ 100 in particular showed positive development with an increase of 0.6 percent to 25,032 points.
On Wednesday, concerns about a possible worsening of trade tensions between the USA and China weighed on the markets. These uncertainties led to a price setback, which was, however, mitigated by the companies’ reporting season, which was largely positive. In addition, market participants almost certainly expect that the US Federal Reserve will cut interest rates further at its meeting next week, which could give the markets an additional boost.
Individual companies were particularly in focus: Tesla shares lost 3.9 percent after the electric car maker recorded a slump in profits in the last quarter. Despite a sales record and positive surprises in revenue and cash development, these results failed to convince investors. IBM, a veteran of the IT industry, posted a 4.2 percent decline as revenue growth in its software division fell short of expectations.
In contrast, the US company Honeywell performed surprisingly well in the third quarter and increased its annual outlook, causing its shares to rise by 7.0 percent. Dow Inc also scored with an unexpectedly narrower loss in the third quarter, driving shares up 9.5 percent. T-Mobile US, a subsidiary of Deutsche Telekom, gained significantly more mobile customers than expected in the third quarter, but lost 3.5 percent in value as the company plans higher investments.
Super Micro Computer, an AI server maker, suffered a 7.0 percent decline after the company lowered its fiscal first quarter revenue target. American Airlines, on the other hand, surprised positively with an earnings outlook that significantly exceeded expectations, sending shares up 3.1 percent. After the stock market closed, the business figures from Intel and Ford were also expected, which could provide further impetus for the markets.
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