On the last trading day of the week, the US stock exchanges rose to new records. The Dow Jones Industrial
climbed to another high in the first few minutes of trading on Friday, as did the market-wide S&P 500
. In the further course, both stock market barometers could not quite hold the profits. After more and more new price records recently, investors could reap profits before the weekend.
Most recently, the Dow was up 0.30 percent to 34 139 points. From a weekly perspective, there is now a one percent markup on the leading index. The market-wide S&P 500 advanced 0.20 percent to 4179 meters. The tech-heavy Nasdaq 100 , which had picked up strongly the day before, remained a little behind with a minus of 0.05 percent to 14 019 meters.
Despite the price rally of the past weeks and months, experts still see upside potential: The Swiss bank UBS raised its target price for the S&P 500 index by the end of the year from 4200 to 4400 points this Friday. “With the economy reopening faster in the coming months, we believe the bull market will continue to stand on solid foundations,” wrote investment chief Mark Haefele.
After two rounds of stimulus from the US government and thanks to continued progress in vaccinations against the corona virus, according to the expert, there is increasing evidence that economic activity in the US is picking up speed again. In addition, the cost pressure on companies is largely only of a temporary nature and can be offset by sales growth.
With a view to the individual stocks, the quarterly reports of companies caused movement. This is how Morgan Stanley shares got and Bank of New York Mellon under pressure, with losses of 3.4 and 4.2 percent, respectively. Morgan Stanley’s quarterly report also had a flaw, despite strong numbers. A single customer defaulted over $ 900 million in losses. At the Bank of New York Mellon, analysts criticized the profitability of the interest-bearing securities business.
The course of the money manager State Street . sagged by as much as seven percent. The forecast of less steep increases in fees in the current second quarter disappointed investors.
Alcoa’s papers moved up by almost nine percent to their highest level since the end of 2018. At the beginning of the year, the group benefited from rising aluminum prices in the course of the expected economic recovery, especially in the USA.
Cisco sat at the top of the Dow Jones Index
with a gain of 2.4 percent. The analysis house Wolfe Research advised buying the shares of the IT network equipment supplier. In the past few weeks, the two major investment houses Goldman Sachs and JPMorgan had already given Cisco shares a higher rating./bek/he
ISIN US2605661048 US6311011026 US78378X1072
AXC0357 2021-04-16 / 20:00
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