Earnings season keeping markets afloat | Calamatta Cuschieri

US markets kicked off the week strong on Monday with the S&P 500 and Nasdaq both posting record closes as the current round of corporate earnings continues to drive stocks. The Dow Jones Industrial Average gained 174.31 points, or 0.6 percent, to 29,276.82, with the S&P 500 index adding 24.38 points, or 0.7 percent, to end ending at 3,352.09. The Nasdaq Composite Index climbed 107.88 points, or 1.1 percent, to close the session at 9,628.39.

European markets meanwhile traded around the flatline as deal talks and a rally in defensive sectors kept the region’s indexes from falling into the red. The pan-European Stoxx 600 index edged up 0.07 percent, lifted by healthcare, utilities and real estate stocks. Gains however were capped as the oil and financials sectors remained under pressure.

Maltese markets were closed on Monday as the nation celebrated the Fest of St Paul’s Shipwreck.

Samsung teases with new foldable phone

Samsung Electronics, the world’s top smartphone maker, gave a glimpse of new square-shaped foldable phones in a surprise TV commercial aired during the Academy Awards on Sunday. While there were many shots of the phones, which come in at least purple and black, there were few other details. They are, however, expected to be less expensive than the $1,980 Galaxy Fold which opens like a book and was launched in September.

The new ad, broadcast only in the United States, comes two days before its Galaxy Z Flip phones, which open and close vertically like a flip phone, are due to be unveiled at an event in San Francisco. All eyes will be on Samsung’s Feb. 11 event where it is also expected to take the wrap of the latest devices in its flagship Galaxy S range.

Airbus unveils new plane design

Airbus on Tuesday unveiled a model of a new blended-wing-body aircraft designed to clash carbon emissions that the plane maker has been secretly test flying in central France since June 2019. Airbus says the design carries the potential to reduce fuel consumption by up to 20 percent compared with today’s single-aisle aircraft.

The concept of a “blended wing body” design has been around since the 1940s and whilst complex to control, such aircraft produce less aerodynamic drag, making them more efficient to fly. Major planemakers are revisiting such designs as the passenger jet industry tries to commit to more environmentally friendly aircraft.

 

This article was issued by Peter Petrov, Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article are 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.