Zoom Video Communications was one of the risers at the stock exchanges in New York on Tuesday. The video chat service became hugely popular during the Corona pandemic and performed better in the last quarter than investors and analysts had expected.
The prospects for the current quarter were also not too bad. The company also announced that it wanted to use artificial intelligence (AI) for its services and was slightly higher by investors.
Store chain Target, in turn, won more 3 percent after better results. The department store chain achieved more sales and profit than expected in the last quarter of 2022. Target, which had warned about a possible weak holiday season, performed better in three quarters for the first time than connoisseurs had foreseen. Nevertheless, the prospects for this year were a bit disappointing. Later this week, other large American retailers such as Lowe’s, Costco, Macy’s and Best Buy will still come with quarterly figures.
The overall mood on Wall Street was mixed after the cautious recovery the day before. The worries about high inflation and interest rate increases through the central banks to combat that inflation lingered above the markets.
The Dow-Jones index recorded 0.3 percent lower at 32,779 points shortly after the start of the trade. The broader composite S&P 500 fell a fraction to 3982 points, and Tech Fair Nasdaq won 0.2 percent to 11,845 points. Despite the strong beginning of the year, the primary degree meters on the last day of February rise on the second monthly loss in a row.
Apple fell 0.2 percent. According to the European Commission, the American Tech Concern music streaming services imposes too many limitations. In particular, the requirement that streaming services are not allowed to alert their customers to the app to other options for taking out a cheaper subscription is, according to the Abuse of Apple’s market power.
Occidental Petroleum also rose more than 2 percent. The American oil producer achieved fewer sales and profit in the fourth quarter. However, the group did pay more dividends and announced a share-purchasing program of $ 3 billion. Workday also went almost 1 percent ahead. The producer of business software performed slightly better than expected last quarter.