Wall Street up after banking results
US stock exchanges kicked off the session on Wednesday at a slight high, with investors digesting the quarterly results of some of the largest banks in the United States, which gave mixed signals about how the sector is facing the pandemic.
The industrial index Dow Jones advances 0.14% to 28,718.73 points, while the technological Nasdaq rises 0.18% to 11,885.56 points. The S & P500 values 0.12% to 3,516.03 points.
Goldman Sachs values 0.8% to $ 212.49, after presenting results much higher than expected, driven by the trading division, which generated revenues of $ 4.55 billion, an increase of 29% over the period homologous.
Overall, the bank generated earnings of $ 3.62 billion, a record $ 9.68 per share, up from the $ 5.57 expected by analysts. Revenues increased by 30% to 10.78 billion, exceeding market expectations, which were just $ 1 billion.
Conversely, Bank of America drops 2.61% to $ 24.30, after revenues have fallen below estimates. The bank announced, before the market opened, that it had revenues of US $ 20.45 billion, below the forecasts of analysts consulted by Refinitiv, which pointed to US $ 20.8 billion. Profits were also below expectations, with a drop of 16% to 4.9 billion, or 51 cents per share, below estimates of 49 cents.
US banking will remain on the radar, as Morgan Stanley accounts are still expected, whose release is scheduled for Thursday.
At the same time, investors are weighing the implications of the stalemate in the United States Congress over new stimuli for the economy, at a time when hopes for an understanding are dwindling before the November 3 presidential elections.
Yesterday, Democrat Nancy Pelosi rejected a less ambitious proposal for support from Republicans and urged the White House to redo the offer. However, the president of the United States himself criticized the proposal, writing on Twitter “Go big or go home!”.