NEW YORK (dpa-AFX) – The price fluctuations on the US stock exchanges continue. After the price slump on the previous evening, Wall Street should start off with a small plus on Friday. Around three quarters of an hour before the start of trading, the broker IG valued the Dow Jones Industrial (Dow Jones 30 Industrial) with around 0.4 percent higher at 27,650 points.
The day before, however, the US benchmark index had fallen by almost one and a half percent, and the decline in the US technology stocks, which had been hot in recent weeks, was even stronger. Their selection index NASDAQ 100 lost more than two percent. The course correction begun last week thus continued.
Despite the moderate gains now emerging and the recovery on Wednesday, the current weekly balance in the Dow is clearly negative – it would be the second week with losses as a result. This is why some market participants are now also concerned with the question of a possible bubble in technology stocks. Since the Corona crash in the spring, investors had bet on a quick economic recovery from the crisis, above all on papers from this area.
On the data side, there are no major price drivers in sight in the USA on Friday. Instead, the question of the Monetary policy the European Central Bank (ECB) discussed. The day before, the head of the ECB had Christine Lagarde Although the strength of the euro was mentioned, there was no strong verbal intervention. Now ECB chief economist Philip Lane caused speculation again with new warnings about a strong exchange rate.
In the USA, the government’s tough struggle for another corona rescue package is also moving back into focus. The Democrats blocked a $ 500 million Republican plan in the Senate on Thursday.
On the company side, the focus is on the Oracle figures published after the previous evening. The software provider and SAP (SAP SE) rival benefited from the trend towards home work, which was intensified by the Corona crisis, and exceeded market expectations. Industry experts also had praise for the group: Several analyst firms raised their price targets before the weekend. Before the trading day, the price of the Oracle shares rose by four and a half percent.
Movement could also come in the shares of the insurer The Travelers Companies. Wells Fargo analysts (Wells FargoCo) canceled their sell recommendation for the shares and upgraded their vote from “Underweight” to “Equal-Weight”. The experts now see the price target at 115 dollars, a good three dollars above the closing price on Thursday./tav/nas
–
TRADING FOREIGN EXCHANGE WITH UP TO LEVER 30 NOW
Trade forex with high leverage and small spreads. With only € 100.00 you can benefit from the effect of € 3,000 in capital.
–
76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford the high risk of losing your money.
–
– .
