NEW YORK (dpa-AFX) – Wall Street will not rest on Friday either. Even after the US job market report, investors remained cautious in anticipation of further interest rate hikes. The Dow Jones Industrial initially fell by one and a half percent in nervous trading, caught up on its losses at times, but recently fell back by 0.75 percent to 32,748.86 points. In the course of the week he has currently lost about 0.7 percent.
Fluctuations are currently shaping the stock market, it said. On the Nasdaq exchange, the tech-heavy Nasdaq had 100
already lost up to 2.6 percent, but also gained more than half a percent at the top. Most recently, it fell again by 1.23 percent to 12,693.07 points. His daily loss on Friday roughly corresponds to the weekly balance. It is currently trading at its lowest level since March 2021, while the Dow hit its lowest level since February.
Investors are currently facing three problems at the same time: slowing growth, higher costs and rising interest rates, said market strategist Sean Darby of investment bank Jefferies. Only on Wednesday did the US Federal Reserve raise interest rates by a further 0.50 percentage points. The last time there was such a clear one-off step was 22 years ago.
“With their measures, the central banks also have to accept harmful side effects on the economy in the current situation. Fighting inflation now has priority,” said chief economist Ulrich Kater from Dekabank. Accordingly, the latest US job market report on Friday was viewed particularly critically. “Another significant increase in new jobs – the Fed remains under pressure,” commented analyst Tobias Basse from NordLB.
When looking at individual values, oil companies were once again a positive exception due to a rising oil price. As the debate over a European oil embargo on Russia rages on, prices were boosted by the US announcement that strategic oil reserves would begin to be refilled this fall. chevrons were the best Dow value with a plus of 1.4 percent.
In contrast, it was a gloomy day for investors in the US sporting goods sector. While Under Armor shares
slipped by more than a quarter according to numbers, the Nike -Shares included in the Dow at a discount of 3.4 percent. Under Armor disappointed investors not only with a quarterly loss, but also with the full-year outlook. UBS analyst Jay Sole now sees a correction risk of up to 19 percent for earnings estimates on the market.
Meanwhile, the now record-low Peloton shares are coming to the Nasdaq don’t get back on your feet. The papers of the fitness specialist, once traded as a big Corona winner, fell again by 7.5 percent on Friday. As the Bloomberg news agency reported, citing circles, the company is currently looking for a large investor who could get in with 20 percent of the shares./tih/he
ISIN US2605661048 US6311011026 US78378X1072
AXC0344 2022-05-06/20:28
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