The U.S. equity market ends the session with modest gains. The DJIA (Dow Jones Industrial Average) boosted more than 0.2%, which equals 52 points, while the S&P 500, a stock market index that measures 500 large companies’ stock performance increased by 0.30%. The tech-heavy Nasdaq Composite, a stock market index that includes almost all stocks climbed 0.37%
Moreover, new home sales rose to a seasonal adjusted annualized rate of 1.011 million in August, outpacing the expected 895,000. Significantly, July’s sales stood at 965,000.
Early on September 24, initial unemployment claims for the week ended September 19 increased by 4,000 to worse-than-expected 870,000.
Apple Inc., Amazon.Inc and Microsoft Corp rebounded
Significantly, the world’s leading companies, such as Apple Inc., Amazon.Inc and Microsoft Corp. recovered earlier losses despite the Department of Justice’s disclosure of probing ways to protect Americans from social media abuse and combat censorship of lawful speech online.
Shares of Tesla, an American electric vehicle and clean energy company, also recovers. However, the company failed to deliver on the one million-mile battery that Wall Street analysts expected.
It has to be mentioned that Warren Buffett’s Berkshire Hathaway plans a $600 million preferred investment in Scripps to help the organization complete the purchase.
Meanwhile, Darden Restaurants Inc, American multi-brand restaurant operator reported mixed quarterly results. Same-store sales fell 28% at Olive Garden, which accounts for about half of its revenue, 18% at Longhorn Steakhouse, and 38.9% its fine-dining establishments, including The Capital Grille. The restaurant-chain operator views sales in the current quarter off 18% from a year ago.
Also, U.S. Treasurys ticked higher, pushing the yield on the 10-year note down to 0.664%.
European markets decreased on Friday. Britain’s FTSE dropped 1.46%, France’s CAC fell 1.02%, and Germany’s DAX eased 0.6%.
In Asia, Hong Kong’s Hang Seng sank 1.82%, China’s Shanghai Composite dipped 1.72%, and Japan’s Nikkei dropped 1.11%.