Wall Street rises after bank figures


American stock exchanges in New York were open higher on Friday. Investors’ attention went to large banks Wells Fargo and JPMorgan Chase who opened the books. A major acquisition in the oil sector also attracted attention.

The Dow-Jones index rose 0.9 percent in the first trading minutes to 26,361 points. The broad S&P 500 went up 0.5 percent and stood at 2903 points, while the Nasdaq tech fair also increased 0.5 percent to 7983 points.

Wells Fargo (plus 0.6 percent) made more profit on lower sales in the first months of 2019. The largest mortgage lender in the United States, by and large, outperformed the experts.

Industry counterpart JPMorgan (plus 3.3 percent), in turn, posted record results. The higher interest rates mainly benefited.

Oil and gas giant Chevron takes over Anadarko Petroleum for 33 billion dollars. Including debt, the acquisition price, which Chevron pays partly in shares and partly in cash, amounts to 50 billion dollars. Chevron went down 4.5 percent, Anadarko added 34 percent.

Investors responded enthusiastically to Disney’s plans for their own streaming service. The share of the entertainment company was set more than 10 percent higher and reached a record level.

By: Leah Kunze

Leah Kunze just graduated MBA and is proud of it. She is interested in automotive industry and innovations. She well be glad to receive a mail to leah.kunze@economicinform.com

Add comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent Posts


About us

EconomicInform, EconomicInform.com is a product of EconomicInform LLC. We sincerely believe that economics is one of the most interesting and most underappreciated – in terms of getting some enjoyment out of reading the subject articles – sciences. More on that - at the link. Feel free to drop us a line.