Investing.com – The Dow posted solid earnings for the month, despite closing on Thursday, with the DowDuPont fall offsetting gains in technology.
The apartment closed, but won 8% for the month. The rose rose 0.86%, while rose 1.37%.
Investors digested a slew of profits today, including a pessimistic report from DowDuPoint that weighed on the blue chip index.
Shares of DowDuPont (NYSE 🙂 sank 9 percent after the conglomerate posted revenue of $ 20.1 billion, losing expectations of $ 20.95 billion. Earnings were marginally ahead of estimates of $ 0.88 per share.
Materials fell 1.5% for the day.
But there was also an increase in technology stocks, with investors cheering on a high Facebook report, prompting a series of calls from Wall Street analysts.
Facebook's fourth-quarter profit (NASDAQ 🙂 surpassed analysts' estimates, boosted by an increase in advertising revenue due to impressive user additions.
"This story is starting to look good," Morgan Stanley said in a statement, raising its Facebook stock price target to $ 190.
Elsewhere in front of earnings, Charter Communications (NASDAQ) quarterly results above consensus sent their shares up 14%. But Microsoft (NASDAQ 🙂 miss on the top line dragged the price of its 2% lower shares.
The energy sector, meanwhile, gave a modest boost to the broader index, as falling oil prices limited gains.
A positive turn of events in the US-China talks just before the bell also triggered a swift purchase on Wall Street.
Chinese Deputy Prime Minister Liu He said in a letter that he hoped to accelerate the 90-day consultation between the two sides in an attempt to close a deal with the United States. The vice premier also confirmed that Beijing will increase purchases of US farm products, including five million tons of soybeans per day from US farmers.
President Donald Trump told reporters he was confident that "all points (in trade) will be accepted" when he meets with President Xi Jinping, although he seems reluctant to provide more details on a future meeting.
Trump said he has no plans to extend the current 90-day trade war beyond March 1, despite US Trade Representative Robert Lighthizer admitting that much work remains to be done to reach a consensus on an agreement commercial.
Top S & P 500 Gainers and Losers Today:
Charter Communication (NASDAQ :), General Electrical (NYSE 🙂 and Facebook (NASDAQ 🙂 were among the top winners of the S & P 500 for the session.
DowDuPont (NYSE :), H & R Block (NYSE 🙂 and Tractor Supply (NASDAQ 🙂 were among the worst in the S & P 500 session.
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