NEW YORK (awp international) – Disappointing Apple and Amazon quarterly reports did not worry investors on the US stock exchanges on Friday. Initially there was profit-taking in the tech sector after a good run, but the Nasdaq 100 turned positive and set another record. Most recently, the technology-heavy selection index rose by 0.12 percent to 15,796.85 points. He is heading towards a weekly plus of almost three percent.
On Wall Street, the leading Dow Jones Industrial index has been fairly stable from the start. Most recently it increased by 0.15 percent to 35,784.15 points, but was unable to set a new record. This indicates a moderate weekly plus for the US benchmark index, but it would end October almost six percent higher. The market-wide S&P 500 made it briefly above the 4600 mark for the first time on Friday. Most recently it was 0.06 percent up at 4599.13 points.
Market observer Jochen Stanzl from broker CMC Markets currently sees the US stock exchanges in a “really powerful bull market”. “The desire to buy shares is unbroken, especially in the Nasdaq 100 technology index – despite an initial negative reaction to the quarterly balance sheets of Amazon and Apple,” said the expert. The interest rate worries ahead of the next interest rate decision by the US Federal Reserve in the coming week were well taken off by the stock markets due to an overall astonishingly good reporting season.
The global chip shortage caught up with Apple in the past quarter. Despite significant growth, the iPhone group missed the even more optimistic forecasts of experts. The bottlenecks in the supply chain and Corona failures in production would have pushed sales by around six billion dollars, said CEO Tim Cook. In the current quarter, the negative effect will be even higher, it said.
Apple shares recently fell 2.5 percent, while those of Microsoft rose 1.7 percent to a record high. This led to a change in leadership in the race for the status of the most valuable company in the world: For the time being, the software company was able to just oust the iPhone manufacturer.
The online retailer Amazon also had no good news for its investors: It earned significantly less in the third quarter and warned of further high costs in view of delivery problems. With the outlook for the current quarter, Amazon dampened market expectations considerably. The share reacted with a price slide of 2.8 percent most recently.
However, the shares of the electric car pioneer Tesla braced themselves against the Nasdaq weakness with an increase of two percent. They made it over the round mark of $ 1,100 for the first time. The strong run, especially in the past 14 days, was thus continued.
Things also continued to improve for Facebook shares after a recovery was initiated with the renaming announced the previous evening. On Friday the papers advanced again by 2.4 percent. The group is giving itself a new name with the umbrella brand Meta and wants to develop the communication platform of the future.
According to the figures, the big oil companies fared slightly better below the standard values: The shares of Chevron and Exxonmobil gained up to one percent after unexpectedly good results from the two oil multinationals. Both benefited from the recent oil price rally over the past quarter.
In contrast, the Starbucks papers sagged by 7.2 percent by numbers. Business is flourishing at the world’s largest coffee chain – but not in the important foreign market of China. A new wave of corona in China caused lockdowns./tih/he there again
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