ECONOMY

Wall Street: session supported by Goldman Sachs

The New York Stock Exchange closed in green Wednesday, reassured by the reliable results of Goldman Sachs. The Dow Jones thus advanced 0.8% to 26,870.1 points, while the Nasdaq Composite rose 0.6% to 10,550.5 points.

Goldman Sachs won 1.3% after having unveiled, among other things, revenues up 41%, supported by the growth of its activities in global markets – investment banking and consumers – wealth management.

The establishment led other financial values ​​upward, such as American Express (+ 2.7%), while Bank of America (+ 1.9%) and Morgan Stanley (+ 1.7%) also advanced before their results are released on Thursday.

The positive mood was also fueled by hopes surrounding the discovery of a potential vaccine against the coronavirus, Moderna having jumped by almost 7% after positive phase 1 data for its experimental vaccine.

“The detailed phase I results published in the New England Journal of Medicine demonstrate high efficacy (development of neutralizing antibodies) and should increase confidence in the development of an effective vaccine,” said Jefferies.

On the front of the indicator, the New York Fed’s Empire State activity index returned to positive territory this month to settle at +17.2, after -0.2 announced in June, while the consensus only anticipated progression to +10.

After a 1.4% rebound in May, industrial production rose 5.4% in June according to the Federal Reserve, where economists only expected rise in just under 5%.

Susan Rogers

Reporter Susan Rogers is a seasoned journalist with 10 years of experience. While studying journalism at Haas School of Business in California, Susan conducted numerous research studies on how social media advertising has changed the landscape of traditional PR. As a contributor to The Ticker Times, Susan covers stories affecting advertising and media. Tel: 206-332-0220 Location: 1304 6th Ave, Seattle, WA 98104, USA Email: [email protected]

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