(message supplemented by individual values)
NEW YORK (awp international) – The recovery in the Dow Jones Industrial on Thursday was initially followed by losses again at the end of the week. The large pre-market price fluctuations had already shown how unsettled investors remain despite all the measures taken to contain the crisis in the US regional banks. In addition, there is the long expiry date on the futures exchanges, which often causes prices to fidget.
The leading index Dow Jones Industrial fell by a good half a percent in early trading on Friday to 32,029.18 points, and the broader S&P 500 fell by 0.38 percent to 3945.29 points. The Nasdaq 100 held up better on the Nasdaq technology exchange. It fluctuated around its previous day’s close and was last listed 0.11 percent up at 12,595.43 points.
In a “historic step”, as JPMorgan calls it, the troubled First Republic Bank had received support worth billions from the largest American financial institutions. The hesitant stabilization of the First Republic Bank papers of the previous days was dampened again on Friday. Your price dropped by a fifth. At a good $27, this is still well above Monday’s low of $17.53. SVB Financial, the parent company of Silicon Valley Bank – the cause of the current crisis – has meanwhile applied for bankruptcy protection under “Chapter 11” of US bankruptcy law.
Investors are eagerly awaiting how the US Federal Reserve will react to the crisis in the coming week. The day before, the monetary watchdogs in Europe had not been dissuaded from their anti-inflation course and had raised the key interest rate again significantly. Meanwhile, the experts at Credit Suisse expect the Fed to take a “restrictive pause”. The turnaround in interest rates will be briefly suspended, but further steps will be signaled – so their theory.
Financial stocks recorded larger losses. The shares of the big banks JPMorgan and Goldman Sachs each fell by around two and a half percent in the bottom places in the Dow Jones.
A study setback for a lung cancer drug weighed on the papers of the US pharmaceutical company Merck & Co. The shares lost around one percent.
Among the other individual values, the papers of Deutsche Post competitor Fedex rose by a good 8 percent. The group raised its forecasts and also signaled cost reductions in order to counter low parcel volumes.
The steel group US Steel also impressed with its business outlook. The papers gained 1.75 percent.
And analysts also moved the courses. Shares in entertainment group Warner Bros. Discovery rose 1.6 percent on recommendations from Wolfe Research and Wells Fargo