NEW YORK (dpa-AFX) – The sell-off in US technology stocks is likely to continue on Friday. The broker IG estimated the industry-heavy Nasdaq 100 on the day of the big decline again 0.9 percent lower to 15,720 points, after the price barometer had already lost 2.6 percent the day before. The weekly minus threatens to get even bigger: So far, the Nasdaq selection index has lost almost three percent in the past few days.
However, the Dow Jones Industrial should continue to be a little more robust on Friday. IG valued the Wall Street benchmark index less strongly before the stock market launch with 0.4 percent in the red at 35,760 points. The day before it had done significantly better than the other New York indices, with only a narrow discount. So far, in the weekly balance sheet, it is only 0.2 percent in the red.
In the high-growth tech stocks, after the good run of the past few months, investors are again increasingly concerned about the effects of tighter interest rates. While the Bank of England surprised with an initial rate hike on Thursday, the Fed is initially accelerating the reduction in its securities purchases. The ECB, on the other hand, temporarily increased its APP purchase program the day before because of the risks posed by the new Corona variant Omikron.
“The worries about a setback in the stock market are increasing,” said market watcher Pierre Veyret of the broker ActivTrades. The gap that is widening between the US and Europe in terms of monetary policy is particularly important. This puts investors in a difficult position, warned the expert. In addition, the futures exchanges are about to decline. These days are known for noticeably fluctuating prices.
Looking at the individual stocks, there was a whole series of price-moving news on Friday. A positive exception was the logistics company Fedex with an increase of 5.8 percent. Investors honored a surprisingly strong quarterly report and the increased profit outlook. According to JPMorgan expert Brian Ossenbeck, many were prepared for the opposite.
For the papers of Oracle, on the other hand, it went down by 5.5 percent before the IPO. The SAP rival is facing the biggest takeover in its history, according to a report in the Wall Street Journal. Accordingly, he could reach for the health software specialist Cerner, whose shares rose by almost 16 percent. At first glance, UBS analyst Karl Keirstead drew a negative conclusion from such a step for Oracle investors, even if the probability and the conditions were uncertain.
The pre-trading session for Tesla rival rival titles fell particularly sharply by 9.4 percent. When he presented his first figures, the stock market shooting star had to admit that this year’s production target of 1200 electric pick-ups will probably be missed by a few hundred. To ramp up production is more difficult than expected, said company boss Robert Scaringe. Tesla meanwhile fell 1.7 percent. Here company boss Elon Musk continues to sell shares from his holdings.
Next in the league with losses are the shares of Johnson & Johnson with a discount of two percent. The US health authority CDC recommends that other corona vaccines be preferred in the future. The risk of brain thrombosis in connection with a vaccination with the preparation from Johnson & Johnson is higher than previously known, it was said in support of an advisory committee that had voted accordingly shortly beforehand.
Biogen papers are also down 1.6 percent in the pre-trading period. The European Committee for Medicinal Products for Human Use (CHMP) had given a negative opinion on the Alzheimer’s drug Aduhelm. This somewhat dampened the hope of introducing the drug in the European Union./tih/jha/
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