The Stock Exchange Started on Wall Street With A Solid Profit

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The stock exchange started the new trading day on Wednesday on Wall Street with a solid profit.

 

The company behind the popular app Snapchat benefited from better-than-expected quarterly figures. Furthermore, attention was paid to the video streaming service Netflix, which also opened the books.

Shortly after the opening bell, the indicators in New York stayed close to Tuesday’s closing positions. The leading Dow Jones index lost 0.1 percent to 28,289 points. The broad S&P 500 rose 0.1 percent to 3,445 points, and tech gauge Nasdaq gained 0.3 percent at 11,561 points.

Investors on Wall Street remain pending an agreement in Washington on a new corona support package for the US economy.

On Tuesday, there were new talks between Nancy Pelosi, Democratic Speaker of the House of Representatives, and Treasury Secretary Steven Mnuchin on such a bailout package. The parties seem to be approaching each other. The consultation will continue on Wednesday.

Snap gained more than 24 percent in stock market value. The company’s revenue was higher than expected, as was the growth in the number of Snapchat users. Other social media companies moved up in the wake. Twitter, Facebook and digital pinboard Pinterest were also among the winners.

Netflix lost nearly 6 percent. The group attracted 2.2 million new subscribers last quarter.

That was much less than the first two periods of this year when many people turned to the service due to the coronavirus because other forms of entertainment such as cinemas, concerts and theatres were discontinued. Netflix’s profit figures were also disappointing.

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