North American markets hit new records on strong U.S. bank earnings

North American stock markets hit record highs again Friday as strong earnings from some of the big U.S. banks painted a picture of an economy that is still humming.In New York, the Dow Jones industrial average was up 409.74 points to set a new record at 42,863.86. The S&P 500 index was up 34.98 points to hit a new all-time high at 5,815.03, while the Nasdaq composite was up 60.89 points at 18.342.94.

Banks traditionally kick off the earnings reporting season in the U.S., so the encouraging numbers that came out Friday suggested that results from other companies and sectors may also be positive, Petursson said. Traders are watching corporate earnings closely because they want to see signs that the U.S. Federal Reserve is on track to achieve a"soft landing," the term for the sweet spot achieved by central banks when they seek to raise interest rates enough to gain control of inflation but without tipping the economy into recession.

But Petursson said the Fed could choose to not cut at all, given a report earlier this week that showed U.S. inflation at the consumer level isn't cooling as quickly as economists expected. On Friday, fresh monthly jobs data from Statistics Canada came in stronger than many economists expected, but the longer-term trend in Canada's labour market has still been downward.

The Canadian dollar traded for 72.67 cents US compared with 72.71 cents US on Thursday, and Petursson said there will continue to be downward pressure on the loonie if the Bank of Canada's monetary policy continues to appear to be headed for a different trajectory than the U.S. Fed.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

North American markets hit new records on strong U.S. bank earningsNorth American stock markets hit record highs again Friday as strong earnings from some of the big U.S. banks painted a picture of an economy that is still...
Источник: YahooFinanceCA - 🏆 47. / 63 Прочитайте больше »

North American stock markets climb; commodities weaken on Chinese market woesNorth American stock markets gained ground on Wednesday thanks to continued optimism about the strength of the U.S. economy. The S&P/TSX composite index was up 152.39 points at 24,224.90. In New York, the Dow Jones industrial average was up 431.
Источник: SooToday - 🏆 8. / 85 Прочитайте больше »

Citi Analyst Sees Strong Earnings Growth Potential in North American Transportation SectorCiti analyst Ariel Rosa believes a cyclical downturn in the North American transportation industry is nearing its end, predicting strong earnings growth in 2025 and 2026 as rates recover. He cites strong management teams and essential service provision as supporting factors for his positive outlook.
Источник: globebusiness - 🏆 31. / 66 Прочитайте больше »