NEW YORK (dpa-AFX) – In a good mood, investors on the New York stock market pushed prices up further before the weekend. On Wall Street, the leading index Dow Jones Industrial and the market-wide S&P 500 climbed again to record highs on Friday. On the technology exchange Nasdaq, prices turned positive after inflation worries had initially put a damper on them.
A good two hours before the market closed, the Nasdaq 100 advanced 0.23 percent to 13,790.27 points. He is now less than 100 points away from his record high and the race to catch up continues. The Dow recently gained 0.39 percent to 33 634.81 points, which shows an increase of around 1.5 percent on a weekly basis. In the S&P 500 it went up 0.32 percent to 4110.37 points. Economic optimism and cheap money from the central bank are driving the default values more and more.
Chart technology expert Franz-Georg Wenner from Index Radar also named the friendly seasonality and intact market technology as positive factors. Investors who have invested stayed in the market and bet on further rising prices. However, there are also numerous players who are hoping for smaller setbacks and who increase their share quota when prices fall. This interaction ensures that there are no major losses and that the market remains stable.
In the USA, producer prices rose faster than expected in March, and the increase in China also continued in March. If the returns on the capital markets rise with increasing inflation, then credit can become more expensive for companies. This, in turn, affects technology companies more, which are dependent on investments in IT and software. The yield on ten-year US government bonds initially trended in the direction of 1.7 percent on Friday, and most recently it was only 1.66 percent. This keeps the tech values.
The shares of the industrial group Honeywell rose 2.4 percent among the favorites in the Dow, driven by a buy recommendation from Deutsche Bank. In last place were Johnson & Johnson with minus 1.7 percent. The EU Medicines Agency (EMA) checks cases of thrombosis after a corona vaccination with the manufacturer’s vaccine.
The shares of Levi Strauss went up by 3.4 percent after quarterly figures and an increase in the outlook. The jeans producer did better than expected, wrote market analyst Michael Hewson of CMC Markets UK. Although sales fell significantly at the beginning of the year, this shouldn’t come as too much of a surprise given that the shops in Europe are closed. The group has benefited from the online business. / Ajx / he
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