NEW YORK (dpa-AFX) – The US technology exchange Nasdasq is expected to be slightly up on Friday after the severe setback the previous day and new optimism thanks to Amazon. The Wall Street index Dow Jones Industrial (Dow Jones 30 Industrial), on the other hand, is likely to weaken. Investors are also focusing on a very strong January jobs report as the US economy continued to build jobs.
In particular, the US Federal Reserve will “look with pleasure” at the further increase in employment, commented portfolio manager Thomas Altmann from QC Partners. The report is an additional legitimation for the rate hike in March.
The broker IG appraised the Wall Street index Dow Jones about three quarters of an hour before the start of trading 0.5 percent lower to 34,927 points. In the first week of February, this would mean an increase of 0.6 percent.
The tech-heavy NASDAQ 100 is expected to be up 0.2 percent to 14,533 points, which would still mean a small weekly gain despite the previous day’s slump of a little more than 4 percent.
After the shock from Meta (Meta Platforms (ex Facebook)), which shook the technology market on Thursday, both Amazon and Snap were able to reassure fans of growth stocks. The world’s largest online retailer earned brilliantly in the Christmas quarter. In addition, he managed the announced cost avalanche better than feared due to the enormous need for personnel and the high investments in delivery logistics – not least thanks to his highly profitable cloud business.
Even if the growth outlook has clouded over significantly after the e-commerce boom during the pandemic, investors are satisfied. The stock rose about 12 percent premarket. Analysts such as JPMorgan, Goldman and Barclays reiterated their buy recommendations and raised their price targets.
The makers of the photo app Snapchat surprised investors with the first quarterly profit in Snap’s history. The share, which had collapsed by almost 24 percent the day before in the wake of weak user numbers on Facebook, rose by around 44 percent before the market.
Shares in Facebook parent Meta, which had fallen by a little more than 26 percent the day before, destroying around $250 billion in market value, only recovered slightly before the start of trading with a plus of 0.3 percent.
The papers of the US car manufacturer Ford (Ford Motor) also fell by almost 6 percent. In the three months ended December, the group’s adjusted operating profit fell short of market expectations./ck/jha/
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