NEW YORK (dpa-AFX) – The US stock exchanges rose again on Friday, buoyed by hopes of the approaching interest rate summit by the central banks.
Shares from the investment and financing-dependent technology sector reacted particularly sensitively, the Nasdaq 100 index gained 1.85 percent to 15,750.93 points.
The leading index Dow Jones Industrial closed 0.50 percent higher at 35,459.29 points. The market-wide S&P 500 went up 0.99 percent to 4582.23 points. All three indices posted gains on a weekly basis, with the Nasdaq 100 performing best at plus 2.1 percent.
In the USA, inflation continues to slow down. The PCE price index, which is particularly watched by the US Federal Reserve, rose by 3.0 percent year-on-year, after 3.8 percent in the previous month. That was expected. For more than a year, the Fed has been fighting the high inflation with sometimes sharp increases in interest rates. This week it continued to tighten its monetary policy slightly and left the future course largely open. Due to falling inflation, however, Fed observers believe it is possible that key interest rates will not rise any further for the time being.
Share investors once again had to process quarterly reports before the weekend, including those from Intel. The semiconductor group returned to profitability in the past three months. Not only the interim report, but also the outlook for the current quarter exceeded expectations, Intel shares gained 6.6 percent at the top of the Dow.
The shareholders of Procter & Gamble were happy about a price increase of 2.8 percent. The consumer goods group ended the 2022/23 financial year stronger than expected. Competitor Colgate-Palmolive set higher annual targets thanks to price increases in the past quarter. The shares still lost 1.9 percent. The bottom line is that net profit fell sharply because significantly higher taxes were incurred.
Ford shares were up 3.4 percent. The carmaker made a loss of billions with electric vehicles – the fact that it still almost tripled its consolidated profit thanks to the robust demand for models with combustion engines did not help the course, nor did the increased annual forecast for the operating result.
Roku soared more than 31 percent. The video streaming platform surprised positively with the numbers for the second quarter and was optimistic for the third quarter.
The euro rose and recovered part of its previous day’s losses. After the US close, the European common currency was trading at $1.1021. The European Central Bank (ECB) had set the reference rate at 1.1010 (Thursday: 1.1125) dollars. The dollar had thus cost 0.9083 (0.8989) euros. On the bond market, the futures contract for ten-year bonds (T-Note Future) rose by 0.37 percent to 111.42 points. In return, the yield on ten-year bonds fell to 3.96 percent./ajx/he
— By Achim Jüngling, dpa-AFX —
2023-07-28 20:23:00
#ROUNDUPAktien #York #Conclusion #Interest #rate #hopes #fuel #tech #stocks
