Index jumps due to Snapchat performance on Wall Street

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The stock exchanges in New York started on Wednesday with small results for the new session. Investors again processed a large flow of business results. The figures from Snap, the company behind the Snapchat app, were clearly in good shape. Furthermore, automakers General Motors and entertainment company Walt Disney opened the books. The State of the Union, which US President Donald Trump spoke for Congress, was also alerted.

The leading Dow Jones index stood close to 25.410 points shortly after the opening bell. The broad S & P 500 also hardly came out of place and stood at 2337 points and technology yardstick Nasdaq won 0.1 percent to 7409 points.

Index jump

Snap made a price jump of 20 percent. The company managed to keep the number of users up to par in recent months, while the bank took a fall. GM (plus 2.8 percent) recorded a net profit after a loss a year earlier. Sales increased slightly, aided by the growing sales of pick-up trucks.

Walt Disney (plus 0.6 percent) presented a lower profit on an almost stable turnover. Music streaming service Spotify saw the number of users increase and wrote black numbers. Investors, however, reduced the share of the Swedish company by 5.8 percent.


By: Abaigael Schlomski

Abaigael Schlomski is an accomplished economist and financial journalist with over a decade of experience in the industry. He is a regular contributor to EconomicInform, where he provides in-depth analysis and expert commentary on the latest economic trends and events. With a keen understanding of the financial markets and a talent for breaking down complex economic concepts for a general audience, Maurice is a trusted and respected voice in the field.

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