The week closes with the third quarter reporting season at full speed with a spectacular day for the “big-tech“ companies. Today, companies like Amazon, Alphabet (better known as Google) and Microsoft surprised the market and took the Nasdaq index to new records. Just to give you some context, Am
azon grew today + 13.22%, an increase in its market value of +61.7 billion dollars, the equivalent to the full value of a global and recognized company such as FEDEX. Impressive!
Also, Microsoft did not fall behind growing + 6.41% (+38.9 billion) while Alphabet grew + 4.23% (+28.9 billion).
So far, good results have prevailed during the reporting season. Only in those companies that have not met expectations, the market has had no mercy. Examples like General Electric (GE) and Celgene (CEL), reminds us that we must be very cautious and not be led by the market euphoria. Typical results when companies are overvalued, and the outlook is not as attractive as previously thought.
On Wall Street, the D
ow Jones, S & P500, and Nasdaq stock indexes ended the week up + 0.45%, + 0.22% and + 1.09% respectively from last Friday. The barrel of crude closes the week with a quotation of 53.97 (+ 2.57%) dollars per barrel; the yield on 10-year Treasury bonds closes at 2.43%; gold falls slightly trading at 1,274.30 dollars per ounce and, finally, the euro closes at a rate of 1,1603 euros / USD.