In the USA, the most important tech indices have recovered some of their very severe losses from the previous day. Positively received business figures of the world’s largest…
NEW YORK (dpa-AFX) – In the USA, the most important tech indices have made up some of their very severe losses from the previous day. Positive business figures from the world’s largest online retailer Amazon calmed investors on Friday. However, surprisingly good job data kept fears of monetary policy being too tight.
The technology-heavy selection index NASDAQ 100 rose by 1.33 percent to 14,694.35 points. The Nasdaq Composite (NASDAQ Composite Index), which includes significantly more stocks, gained 1.58 percent. For weeks, tech investors have been torn between disparate quarterly figures from some of the heavyweights in the market and the fear of interest rates rising too quickly, which was recently fueled by the US Federal Reserve’s looming about-face to combat high inflation. However, higher interest rates will devalue the future profits of high-growth tech companies to some extent.
The leading index Dow Jones Industrial (Dow Jones 30 Industrial) fell by 0.06 percent to 35,089.74 points. On a weekly basis, this still means an increase of 1.05 percent. The S&P 500 index, which covers the broad market, rose 0.52 percent to 4500.53 points on Friday.
The January jobs report was very strong 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 a rate hike in March.
After the shock of Meta (Meta Platforms (ex Facebook)), which shook the technology stock market on Thursday, Amazon and Snap were able to please fans of growth stocks again. The world’s largest online retailer had earned brilliantly in the Christmas quarter. In addition, he managed the announced avalanche of costs 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. Amazon shares rose by around 14 percent at the Nasdaq 100 peak – also because the group had announced that it would increase the prices for its “Prime” service in the USA for the first time since 2018, which includes access to free shipping and streaming services. This increased the company’s market capitalization by a good 190 billion US dollars in one fell swoop – never before had a US company managed such an increase in value in one day.
The makers of the photo app Snapchat surprised investors with the first quarterly profit in Snap’s history. The papers, which had collapsed by almost 24 percent the day before in the wake of weak user numbers on Facebook, have now skyrocketed by almost 59 percent.
Shares in Facebook parent Meta, which had fallen a good 26 percent the day before – with a record value of around $ 250 billion in market value destroyed – fell by 0.3 percent on Friday.
The papers of the car manufacturer Ford (Ford Motor) went down by almost ten percent. In the three months to the end of December, the group’s adjusted operating profit had fallen short of market expectations.
The euro was last listed at 1.1455 US dollars. The European Central Bank had set the reference rate at 1.1464 (Thursday: 1.1286) dollars. The dollar thus cost 0.8723 (0.8861) euros.
On the US bond market, the futures contract for ten-year Treasuries fell by 0.60 percent to 126.88 points in the face of interest rate hike speculation in the market. In return, the yield on ten-year government bonds rose to 1.92 percent./la/he
— By Lutz Alexander, dpa-AFX —
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