Stock markets in New York opened Friday with small gains. Investors’ eyes on Wall Street include the quarterly results of computer manufacturers Dell Technologies and HP Inc.
There was also data on consumer spending in the United States.
Dell and HP benefited strongly from the demand for computers in the past quarter due to the many working from home during corona time. As a result, turnover rose sharply. However, the companies warned about the impact of chip shortages on their operations and computer deliveries. Dell stock lost 2 percent, and HP lost 7 percent in value.
Consumer spending in the US increased by 0.5 percent every month in April. A month earlier, there was an increase of 4.7 percent, thanks to the US government’s corona check checks for households. The expenditure figure also includes an inflation component that is important to the Federal Reserve’s interest rate policy. That figure was slightly higher than expected.
Shortly after opening, the Dow-Jones index recorded a plus of 0.4 percent at 34,609 points. The broad-based S&P 500 climbed 0.3 percent to 4,213 points, and the Nasdaq technology gauge went up 0.4 percent to 13,789 points.
Business software developer Salesforce rose nearly 8 percent on better-than-expected quarterly results and an increase in full-year expectations. Wholesaler Costco Wholesale (minus 1.3 percent) also opened the books, as did clothing retailer Gap (minus 2.9 percent). Sports equipment salesman Hibbett Sports was up 1.3 percent after a good quarterly performance.
Boeing lost 1.5 percent. The aircraft manufacturer again temporarily stops deliveries of the 787 Dreamliner due to technical problems with the aircraft. Boeing is working with the aviation authority FAA to remedy the defects.