Fed helps US tech stocks | Financial

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The main indicators closed mixed. The Dow Jones Industrial Average closed 0.4 percent lower at 34,930.93 points. The broad S&P 500 fell a fraction to 4400.64 points while tech Nasdaq gained 0.7 percent to 14,762.58 points.

There was also political news from Washington. Democrats and Republicans said they reached an agreement on $1.2 trillion in infrastructure investments. The US Senate will vote on Wednesday night on further work on a bill that should make the aid package possible.

Investors had to deal with a large load of company figures. Boeing gained more than 4 percent after the publication of its quarterly figures. The aircraft manufacturer has benefited from the recovery in the aviation sector in the past period. As a result, airlines are ordering new aircraft from Boeing after those orders were previously canceled or postponed.

The tech companies each showed solid growth. At Apple, this was partly due to the fact that the iPhone manufacturer had little trouble with chip shortages. Alphabet (plus 3.2 percent) managed to earn much more from advertising than in the comparable period last year. And Microsoft (minus 0.1 percent) has earned much more from its cloud services.

The fact that investors are not equally enthusiastic about all results has to do with the expectations that analysts had in advance with regard to the figures. At Apple, which lost 1.8 percent, it is also a factor that the group has come up with a disappointing forecast for growth in the coming period.

McDonald’s was down 1.9 percent. A special menu created by South Korean boy band BTS has boosted the fast food chain’s sales worldwide. Compared to the second quarter of 2019, before the corona pandemic, turnover was also considerably higher.

Furthermore, figures came from coffee chain Starbucks and vaccine producer Pfizer. They went down 2.9 percent and up 3.2 percent, respectively.

Duolingo, the app for learning a new language, made its debut on the stock exchange and rose more than 36 percent. The company is worth almost 5 billion euros.

A barrel of American oil was worth 0.8 percent more at 72.24 dollars. Brent oil rose 0.1 percent to a price of $ 74.58 a barrel. The euro was worth 1.1849 dollars, compared to 1.1810 dollars at the close of the European stock exchanges.

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