Friday 30 April 2021: Another round of upbeat quarterly earnings from technology heavyweights
Apr 30, 2021 ·
6m 46s
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Another round of upbeat quarterly earnings from technology heavyweights and a surge in first quarter gross domestic product (GDP) growth lifted the S&P500 to fresh record closing high - Dow...
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Another round of upbeat quarterly earnings from technology heavyweights and a surge in first quarter gross domestic product (GDP) growth lifted the S&P500 to fresh record closing high - Dow gained +240-points or +0.71% . The broader S&P500 rose +0.68% to a record settlement of 4,211.47, also hitting a fresh record intra-day peak (4,218.78). Communication Services (up +2.75%) and Financials (+1.82%) led nine of the eleven primary sectors higher. Health Care (down -0.46%) and Information Technology (-0.03%) were the only sectors not to advance. Ford Motor Co tumbled -9.41% despite announcing after the close of the previous session that it had swung to a profit in the first quarter and maintained its full year pre-tax profit guidance, with the automaker warning that it expected to lose half of its second-quarter production due to the global semiconductor shortage. Elsewhere, the Centers for Disease Control and Prevention said cruise ships might be able to resume sailings as early as mid-July. Carnival Corp fell -2.12%. The Nasdaq edged +0.22% higher, hitting a fresh record intra-day high of 14,211.57. Facebook Inc jumped +7.30% after posting a strong first quarter result after the close of the previous session Apple Inc dipped -0.07% despite posting a better-than-expected March quarter result all of its product categories after the close of the previous session that saw the company boost it buyback programme by US$90B and lift its dividend by +7%. The small capitalisation Russell 2000 lost -0.38%.
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Information
Author | Morgans Financial Limited |
Organization | Morgans Financial Limited |
Website | - |
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