The New York Stock Exchange has continued to show strong development which is considered as the sign of continuous long-term growth. The index has broken through the resistance at 10600 points and has closed at 10782 points. The index has fallen a mere 3 points as compared to the previous week when it closed at a record 10785 points. The trend for medium and long-term trading is considered as positive as there has been a 29 percent increase in current Stock Market Investing trend. Investors are likely to gain more earnings per share as the market continues to grow in the coming weeks.
Companies having an increase in their share prices include Merck and Co Incorporation, Apple Incorporation, Baidu Incorporation, Bank of America Corporation, Limelight Networks Incorporation, JPMorgan Chase and Company, EOG Resources Incorporation, Quanta Services Incorporation, Lincoln National Corporation and United Continental Holdings Incorporation. On the other hand, Bristol-Myers Squibb Corporation, Chesapeake Energy Corporation and TripAdvisor Incorporation observed a decline in their share prices during normal trading hours. In the current week, Vegas Sands Corporation, Texas Instruments Incorporation, Juniper Networks Incorporation, Wynn Resorts Limited, Illumina Incorporation, Boeing Corporation, Akamai Technologies Incorporation and HCA Holdings observed no change in their aftermarket share prices. Master Card Incorporation, Caterpillar Incorporation and The Coca-Cola Company, observed a rise in their aftermarket share prices. In the current week, it is expected that Nordstrom Incorporation, Macy’s Incorporation, Coach Incorporation, Ralph Lauren Corporation, Michael Kors Holdings Limited, Walt Disney Corporation and Acacia Communications Incorporations will experience a rise in their share prices while Celgene Corporation and JPMorgan Chase and Company will experience a downfall in their share prices. Moreover, as the Gold prices have fallen down, it is expected that SPDR Gold trust will experience a short fall in its earnings and the month of August won’t be good for Gold trust.
The New York Stock Exchange is currently on a high note because of the following reason. The United States economy added 255,000 jobs in July and the unemployment rate remained at 4.9%. Wages grew 2.6% compared to 2.2% the same time a year ago. Rising employment shows that the economy is on a solid footing which had a positive impact on investors as they continue to invest more. Andre Chamberlain, chief economist for recruitment company Glassdoor said “Slow and steady growth is what we are seeing. It’s good for banks and for the overall market.”
Experts’ say that high wage rates have pulled people back into the workforce and investors are reacting appropriately to the sustained economic stability which will be good for the market in the upcoming weeks.
Disclaimer: This article resembles the thoughts of the author and any loss occurred to the investor will not be the liability of the company.