The Malta Independent 15 December 2017, Friday

New record for the Stock Markets

Wednesday, 29 November 2017, 10:24 Last update: about 16 days ago

US Stock Markets closed at records Tuesday after bouncing around during the regular session as geopolitical tensions and domestic developments pulled the market in different directions.

The Dow Jones Industrial Average climbed 255.93 points and the Nasdaq Composite Index rose 33.84 points. Also the S&P 500 reached +0.98%.

The three equity benchmarks have set multiple records in 2017, boosted by factors such as an expanding U.S. economy, rising corporate profits, anemic expected returns for other assets and other business-friendly policieslike the tax reform.

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Innovation will drive up Amazon shares in next future.

Amazon is hosting its annual re-invent conference this week in Las Vegas, where it has traditionally announced new products, partnerships and updates to Web Services. Thousands are expected to attend, eager for an update on the company's abilities in cloud technology.

The retails giant has continued to impress Wall Street with its climb to the top of retail and online shopping. The company has seen its shares increase roughly 60 percent since the start of January, preceding what is expected to be a strong holiday season.

Data from Adobe Analytics showed online Black Friday sales rose nearly 17 percent from last year.

Within the past year, Amazon has acquired Whole Foods Market, made some movements in the pharmaceutical and health care space, and announced that it was looking to establish a second headquarters, known as HQ2.

The new headquarters HQ2 has created significant media attention and government interests. The company is expecting to offer 50,000 jobs and $5 billion of investments, showing the way in which the company is thinking about the position of Amazon Web Services.

The Roku’s stock explosion

Analysts covering Roku, predicted on Monday that the stock would reach $50 in the next year, which would require a 27 percent increase from the last closing price on Friday.

On Monday the stock jumped 18 percent up to $46.52, and reached $50 on Tuesday.

The company's market value has more than tripled since its IPO in September.

Roku is known for its streaming devices, which hit the market before competitive offerings from Amazon, Google and Apple.

The company has expanded its business through advertising revenue and becoming the operating system for a number of smart TV manufacturers, including RCA, Vizio, Sharp and Toshiba.

In its first earnings report as a public company, Roku generated sales of $124.8 million, topping the average analyst estimate of $110.5 million, according to a Thomson Reuters survey. 

This article was issued by Linda De Luca, Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.

 

 

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