After three downward trading days, the US benchmark index Dow Jones Industrial (Dow Jones 30 Industrial) made up some of its recent losses on Friday.
NEW YORK (dpa-AFX) – After three downward trading days, the US leading index Dow Jones Industrial (Dow Jones 30 Industrial) made up some of its recent losses on Friday. The focus of investors on Wall Street moved a little away from the topic of inflation and there was more optimism for stocks, especially in the technology sector.
The Dow went 0.50 percent higher at 36,100.31 points. On a weekly basis, he lost 0.6 percent. The record high of just under 36,566 points reached on Monday remains within reach.
The other major New York indices were even more buoyant on Friday: The market-wide S&P 500 advanced 0.72 percent to 4682.85 points. The technology-heavy NASDAQ 100 topped this with an increase of 1.04 percent to 16,199.89 points.
The largely positive reporting season is gradually coming to an end and continues to support the stock markets, even if the high inflation is unsettling. Any publication of inflation rates that are above expectations could lead to major swings in the equity and bond markets, stated chief investment strategist Mark Haefele of UBS Global Wealth Management. But the topic is not yet strong enough to end the rally on the stock market.
However, fears of inflation are now weighing on consumer confidence in the US, as the index collected by the University of Michigan this Friday made clear. It fell to its lowest level in ten years in November.
Among the individual stocks in the Dow, the shares of Johnson & Johnson (JohnsonJohnson) (JohnsonJohnson) were among the winners, up 1.2 percent. The group wants to split into two listed companies. In addition, the consumer goods division is to be separated in the next 18 to 24 months, as CEO Alex Gorsky told the “Wall Street Journal”. The other division will then be the much larger pharmaceutical sector with prescription drugs and medical technology.
Walt Disney (Walt Disney), however, continued to suffer from the figures presented on Wednesday for the fourth fiscal quarter, in which the important streaming business in particular had disappointed. The shares lost another 1.5 percent as the bottom of the Dow, but stayed just above their previous day’s low.
The Dow was also supported by a number of technology stocks it contained, benefiting from the particularly buoyant recovery in the sector, which is typically pegged to the Nasdaq indices. Apple, Microsoft and Salesforce are considered to be representatives of this industry and gained 1.2 to 1.4 percent in the Dow.
For Tesla, however, the Nasdaq fell 2.8 percent to around $ 1,033. They moved away from the record high of $ 1,243 from the previous week. Tesla boss Elon Musk had sold more shares in the electric car pioneer after a sensational Twitter vote in the past few days. Since the beginning of the week, their value has totaled around 5.7 billion US dollars. Overall, the company is worth more than a trillion dollars on the stock market.
In addition to Tesla, its smaller competitor Rivian (Rivian Automotive) was also in the focus. The shares rose strongly on their only third day on the stock exchange. Most recently it went up 5.7 percent to just under $ 130. Compared to the issue price of 78 dollars, they have already increased two-thirds. Measured in dollars, the group weighs more on the stock market than the German car manufacturer Daimler. And Rivian has not yet made any significant sales and is also in the red.
The euro remained at a low level. At 1.1446 dollars, the last payment was similar to the previous day. The European Central Bank (ECB) had meanwhile set the reference rate at 1.1448 (Thursday: 1.1460) dollars. The dollar cost 0.8735 (0.8726) euros.
On the bond market, the futures contract for ten-year Treasuries (T-Note-Future) rose moderately to 130.59 points after the holiday on Thursday. The yield on ten-year government bonds was 1.57 percent./tih/he
— By Timo Hausdorf, dpa-AFX —
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