Log in
Log in
Or log in with
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
Twitter Twitter
Facebook Facebook
Apple Apple     


Delayed Nasdaq  -  04:00 2022-12-02 pm EST
255.02 USD   +0.13%
12/02Activision Blizzard game testers vote to form union
12/01Jennifer Garner, John Legend attend lavish U.S. state dinner for France's Macron
12/01Salesforce's Quarterly Results, Outlook Draws Mixed Analyst Views
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Wall Street jumps over 1% to start fourth quarter

10/03/2022 | 10:29am EST

(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window.)


Tesla down as Q3 deliveries miss market estimates


U.S. factory activity slowest in ~2.5 years in Sept -ISM


Credit Suisse, Citi cut 2022 year-end target for S&P 500


Indexes up: Dow 1.55%, S&P 1.53%, Nasdaq 1.20%

Oct 3 (Reuters) - U.S. stock indexes rose on Monday after sharp declines last week although losses in Tesla Inc capped the gains on the Nasdaq after the world's most valuable electric-vehicle maker missed quarterly delivery targets.

Ten of the 11 major S&P 500 sectors advanced in early trading, with the energy sector leading gains. Megacap growth and technology companies such as Apple and Microsoft also advanced 1.5% each.

"We could see a rebound in the beginning of the quarter simply due to the low sentiment and the lows that were reached at the tail-end of the last quarter," said Jason Pride, chief investment officer for private wealth at Glenmede in Philadelphia.

All three major indexes ended a volatile third quarter lower on Friday on growing fears that the Federal Reserve's aggressive monetary policy will tip the economy into recession.

"We suspect during the quarter it is going to become more apparent that we are getting closer to a recession as the Fed continues to increase rates and that should probably keep the market closer to, if not below, the lows that it is already at."

Meanwhile, major automakers are expected to report modest declines in U.S. new vehicle sales, but analysts and investors are concerned that a darkening economic picture, not inventory shortages, will lead to a drop in future car sales.

Tesla Inc fell 7% after it sold fewer-than-expected vehicles in the third quarter as deliveries lagged way behind production due to logistic hurdles. Peers Lucid Group fell 2% and Rivian Automotive 3.9%.

Oil majors Exxon Mobil and Chevron Corp rose more than 3%, tracking a jump in crude prices as sources said the Organization of the Petroleum Exporting Countries and its allies are considering their biggest output cut since the start of the COVID-19 pandemic.

At 10:04 a.m. ET, the Dow Jones Industrial Average was up 445.72 points, or 1.55%, at 29,171.23, the S&P 500 was up 54.78 points, or 1.53%, at 3,640.40, and the Nasdaq Composite was up 127.33 points, or 1.20%, at 10,702.95.

Data showed global factory output mostly weakened in September as slowing demand added to the pain from persistent cost pressures and tighter monetary policy, diminishing economic recovery prospects.

In the United States, manufacturing activity grew at its slowest pace in nearly 2-1/2 years in September as new orders contracted, likely as rising interest rates to tame inflation cooled demand for goods.

Credit Suisse and Citigroup became the latest brokerages to bring down their 2022 year-end targets for the S&P 500 index, as U.S. equity markets bear the heat of aggressive central bank actions to tamp down inflation.

Credit Suisse also set a 2023 year-end price target for the benchmark index at 4,050 points, adding that 2023 would be a "year of weak, non-recessionary growth and falling inflation."

Advancing issues outnumbered decliners by a 4.49-to-1 ratio on the NYSE and a 2.43-to-1 ratio on the Nasdaq.

The S&P index recorded no new 52-week highs and 23 new lows, while the Nasdaq recorded 37 new highs and 177 new lows. (Reporting by Ankika Biswas and Bansari Mayur Kamdar in Bengaluru; Editing by Anil D'Silva and Arun Koyyur)

ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. -0.34% 147.81 Delayed Quote.-16.48%
LUCID GROUP, INC. 3.26% 10.15 Delayed Quote.-73.32%
MICROSOFT CORPORATION 0.13% 255.02 Delayed Quote.-24.27%
RIVIAN AUTOMOTIVE, INC. -0.38% 31.36 Delayed Quote.-69.76%
TESLA, INC. 0.08% 194.86 Delayed Quote.-44.68%
12/02Activision Blizzard game testers vote to form union
12/01Jennifer Garner, John Legend attend lavish U.S. state dinner for France's Macron
12/01Salesforce's Quarterly Results, Outlook Draws Mixed Analyst Views
12/01Wall St falls after bleak manufacturing data, Salesforce tumbles
12/01Business Groups Warn Against Draft EU Plan That Could Exclude Non-EU Cloud Providers
12/01Salesforce shares tumble after surprise exit of co-CEO Taylor
12/01Futures flat after strong Wall Street rally; Salesforce slides
12/01Musk set to finally take wraps off Tesla truck - to tough crowd
12/01US Chamber of Commerce-led Group Calls Out Draft EU Cloud Services Proposal
12/01Exclusive-U.S. Chamber of Commerce warns against draft EU plan to exclude non-EU cloud ..
More news
Analyst Recommendations on MICROSOFT CORPORATION
More recommendations
Financials (USD)
Sales 2023 213 B - -
Net income 2023 71 663 M - -
Net cash 2023 68 340 M - -
P/E ratio 2023 26,7x
Yield 2023 1,07%
Capitalization 1 901 B 1 901 B -
EV / Sales 2023 8,61x
EV / Sales 2024 7,42x
Nbr of Employees 221 000
Free-Float 99,9%
Duration : Period :
Microsoft Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MICROSOFT CORPORATION
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 50
Last Close Price 255,02 $
Average target price 296,98 $
Spread / Average Target 16,5%
EPS Revisions
Managers and Directors
Satya Nadella Chairman & Chief Executive Officer
Bradford L. Smith President & Chief Legal Officer
Amy E. Hood Chief Financial Officer & Executive Vice President
James Kevin Scott Chief Technology Officer & Executive VP
Hemma Prafullchandra CTO
Sector and Competitors
1st jan.Capi. (M$)
SYNOPSYS INC.-2.89%53 239
SEA LIMITED-72.56%34 479