STOCK EXCHANGE: Wall Street turns green – Nasdaq knocks on a historic rally

Stock markets on Wall Street opened higher on Tuesday, as optimism about possible new peace talks between the United States and Iran weighed on oil prices and lifted stocks worldwide. The technology-focused Nasdaq index is on its way to its longest upward streak since 2021. On Monday, the index strengthened for the ninth trading day in a row.

On Tuesday, a little less than half an hour after the stock market opened, the Nasdaq was up about 1 percent and the broad-based S&P 500 was up 0.5 percent.

The Dow Jones index was up 0.2 percent.

“There is now a clear appreciation potential in the US stock market. The price levels have come down considerably, but the earnings of the companies remain strong. If the rise in oil prices calms down and interest rate concerns subside, the market still has plenty of room for growth.” Goldman Sachs leading global equity strategist Peter Oppenheimer evaluates the market situation for the news agency Bloomberg.

Several results reports

The financial sector company, which is several times larger, published its results for the first quarter of the year on Tuesday.

JP Morgan recorded its highest turnover ever in the first quarter. The result of stock trading, which reached a record level, raised the total turnover almost two billion dollars above the company’s previous record. Despite this, the share price was down 0.5 percent.

Also Citigroup (+1.6%) reported strong figures and recorded the highest quarterly turnover in more than ten years.

Treasurer Blackrock (+4.2%) raised a net amount of USD 130 billion in new customer funds in the first quarter, despite the uncertainty caused by the Middle East crisis.

A technology company Amazon (+2.8%) says they will buy a satellite company Globalstarin (+9.5%). The background of the deal is Amazon’s effort to build its own satellite operation and challenge the competition Elon Musk’s Spacexin activity.

Carrier American Airlines (+6.8%) the share was clearly on the rise after its competitor United’s the CEO is said to have put forward the idea of ​​merging the airlines. United’s stock was also up about one percent.

The producer price index in the United States, which measures the price development of commodities, i.e. inflation from the perspective of companies, rose by 0.5 percent less than expected in March. The market had estimated that it rose by 1.1 percent. On an annual basis, the producer price index rose by 4.0 percent.