On Wall Street, Wednesday started with a cautious upward trend as the S&P 500 index, Dow Jones index, and Nasdaq technology index all opened up 0.1 percent. The S&P 500 index closed yesterday at an all-time high of over 5,500 points with a p/e ratio of about 25.8 for the largest US companies. This is significantly higher compared to its own history, indicating that the stock market is currently trading at a remarkably high valuation level.
In contrast to this, the OMXH25GI index in Helsinki is valued at a p/e factor of about 14.6. Meanwhile, electric car manufacturer Tesla exceeded analysts’ sales forecasts by more than 10 percent during yesterday’s trading session, leading to an increase in the company’s share price by more than 2 percent today.
The US economic data also showed strong signs of recovery with new claims for unemployment benefits dropping to 238,000 and a trade balance of -75.1 billion dollars in May. Additionally, there were reports of 150,000 new private sector jobs created in June, signaling positive growth prospects for the economy moving forward.
As we move into the afternoon hours on Wednesday, we can expect more economic data from the United States to be released including durable goods orders and factory order volumes. This information will provide investors with further insights into the current state of the economy and help them make informed investment decisions going forward.
Overall, it was a busy day on Wall Street with various surveys and feedback opportunities available for different organizations and websites.
In summary:
On Wall Street on Wednesday morning opened cautiously in an upward direction with S&P 500 index opening up by 0.1%, Dow Jones index opening up by the same percentage while Nasdaq technology index also open by same percentage.
Yesterday’s S&P 500 closed at an all-time high of over 5,500 points with p/e ratio close to twenty-six while OMXH25GI index in Helsinki has p/e factor close to fourteen point six.
Today’s trading session saw Tesla exceeding sales forecasts leading to more than ten percent increase in its share price while US economic data showed good signs of recovery such as new claims for unemployment benefits dropping to two hundred thirty-eight thousand and trade balance showing negative seventy-five point one billion dollars in May.
Later today will be published more economic data from United States including durable goods orders and factory order volumes which will give further insights into current state of economy.
