Major Wall Street indexes are bouncing back strong Friday as global markets stabilize following the news of the suspected downing of a jetliner in a war-torn region of Ukraine.
That and a ground offensive by Israel in Gaza sparked a big drop in U.S. stocks Thursday and subsequent plunge in Japan's Nikkei 225 index.
But as of 12:26 p.m. ET, the Dow Jones industrial average is up 0.6% -- more than 100 points higher and back above the 17,000 mark -- while the S&P 500 is up 0.8%.
The Nasdaq composite is doing even better, currently in a 1.3% climb.
Shares of a major Nasdaq component, Google, are up 3% after the tech giant reported surging revenue during the second quarter.
Investors weren't inspired by another major tech power's earnings report. IBM is sinking 0.5%, despite beating analysts' forecasts.
General Electric's earnings met analysts' expectations, but shares in the conglomerate are in a 1% skid.
On Thursday, the Dow Jones industrial average fell 0.9% — 161 points — to close back below 17,000. The big loss snapped a four-day winning streak for the blue-chip index, which ended the day at 16,976.81.
The Standard & Poor's 500 index dropped 1.2% to 1958.12, while the Nasdaq composite index lost 1.4%, settling at 4363.45.
Microsoft's shocker that it was laying off 18,000 employees was welcome news with investors Thursday. The tech giant's stock gained 1% for the trading day -- but is falling 0.2% so far Friday.
The crash site of Malaysia Airlines Flight MH-17 is in area where Ukraine and pro-Russian militants have fought for months. All 298 people aboard were killed.
In the wake of the Dow's Thursday plunge, the Nikkei 225 fell 1% to close at 15, 215.71. Meanwhile, the SSE composite index in China gained 0.2% to 2059.07.
European stocks are mixed so far.
No comments:
Post a Comment