At the end of the week, the main stock indices of the US stock exchanges continued to rise. However, it seems that the whole week will end up on the freezing side.
The rise in the US 10-year bond interest rate to more than 4.25 percent has put a brake on Wall Street this week, but the drop in interest rates at the end of the week has brought stock investors back to the stock markets.
On Friday, the US Michigan confidence index, which describes consumer confidence, also gave a boost, which was better than expected.
The S&P 500 index was up 0.8 percent on Friday after just under an hour of trading.
Nasdaq Composite up 1.3 percent.
The Dow Jones Industrial Average index was up 0.5 percent.
Californian manufacturer of the Ugg and Hoka shoe brands Deckers Outdoor rose 12 percent to $170.14 on the New York Stock Exchange after its big earnings beat. Net sales also clearly exceeded analysts’ expectations in the second quarter of the financial year. The gross margin rose to 55.9 percent from 53.4 percent. The company raised the guidelines.
“Hoka and Ugg delivered excellent second quarter results driven by strong consumer demand for our innovative and unique products,” CEO Stefano Caroti praises in the report.
In addition to innovative products, the company strives to build growth with a consumer-oriented way of thinking and a brand-driven philosophy.
“Our dedicated teams’ continued execution of Deckers’ long-term strategy has positioned our company well to achieve an improved outlook for FY 2025.”
The company’s brand portfolio also includes Teva, Koolaburra and Ahnu.
Source: www.arvopaperi.fi
