NEW YORK (dpa-AFX) – After a strong stock market week so far, the recovery is likely to lose momentum on Friday. At least it went for the Dow Jones Industrial last four days in a row up, by a total of more than four percent. A week ago, the Dow fell to its lowest level in more than a year.
The broker IG appraised the Dow around an hour before the starting bell, up 0.06 percent at 32,658 points. For the tech-heavy Nasdaq 100 it went up moderately by 0.35 percent to 12,320 points.
Because new economic data is unlikely to have any major impact on the stock exchanges, the last trading day of the week could be quiet. There is also no significant impetus from the US bond market.
Different for some individual values. Investors reacted with fright to a drastically lowered profit forecast by the clothing retailer Gap . Shares fell 18 percent in premarket trading. The papers of the software provider Workday fell by 8 percent. Analysts justified this with orders postponed by customers in view of the economically uncertain situation.
Dell Technologies on the other hand, jumped by 9 percent premarket. The tech company increased revenue by a sixth last quarter thanks to strong demand for PCs. The course of the cosmetics manufacturer Ulta Beauty
was up 8 percent after the company raised full-year sales and profit targets./bek/jha/
ISIN US2605661048 US6311011026 US78378X1072
AXC0152 2022-05-27/14:38
Copyright dpa-AFX business news GmbH. All rights reserved. Redistribution, republication or permanent storage without the express prior consent of dpa-AFX is not permitted.
–
