NEW YORK (dpa-AFX) – At the end of a turbulent stock market week, the US stock market is heading for further price losses. In addition to the ongoing war in Ukraine, Friday’s focus was primarily on the strong US employment report and its influence on American monetary policy.
The broker IG appraised the leading index Dow Jones Industrial half an hour before the start of the stock exchange around one percent lower to 33,443 points – for the trading week the bottom line is a minus of almost two percent. The tech-heavy Nasdaq 100, which fell significantly more than the Dow on Thursday, is expected to fall 0.8 percent at 13,922 points on Friday.
On day 9 of Russia’s attack on Ukraine, a post-fighting fire at Europe’s largest nuclear power plant caused even greater concern around the world. Both sides assured that no radioactivity had escaped from the fire, which has since been extinguished. The International Atomic Energy Agency (IAEA) also announced that no increased radiation had been measured.
Meanwhile, the US economy created significantly more jobs than expected in February. In addition, the increase in employment in the two previous months was revised upwards. The unemployment rate fell surprisingly significantly. During the Corona crisis, the labor market in the United States collapsed dramatically at times. He has now recovered significantly.
The labor market development and high inflation made monetary policy adjustments necessary, commented Ulrich Wortberg from Landesbank Helaba. In view of the Ukraine war, however, interest rate expectations are unlikely to be pushed up.
In the case of individual values, business figures caused movement before the market. At the handgun manufacturer Smith & Wesson Brands, investors had to cope with a price drop of a good 18 percent in the face of a disappointing quarterly report. The shares of the retail chain Costco lost more than two percent after they presented strong quarterly figures but warned of rising costs.
On the other hand, the shares of the clothing retailer Gap rose by around seven percent thanks to strong annual figures. At the software company Splunk, a report on the entry of the financial investor Hellman & Friedman caused a price gain of almost 0.8 percent. A strong quarterly outlook sent shares of semiconductor manufacturer Broadcom up more than three percent./gl/jha/
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