NEW YORK (awp international) – The US stock exchanges are heading for further gains in late Friday trading at the end of a strong week. The Dow Jones Industrial rose 0.31 percent to 35,865.63 points two hours before the close of trading. He expanded his previous weekly plus to 3.7 percent. The market-wide S&P 500 rose on Friday by 0.61 percent to 4695.70 meters.
The Nasdaq 100 even went up 0.71 percent to 16,263.52 after the technology stocks gathered there suffered from profit-taking the day before. Strong price gains at Oracle and Broadcom improved the picture in the industry. The index is currently heading towards a significant weekly plus of 3.5 percent.
US inflation at its highest level since 1982 did not worry investors any further, as it was roughly in line with expectations, according to stockbrokers. This means that the Fed remains under pressure to press ahead with its exit from its ultra-loose monetary policy. “If the Fed ends its bond purchases in spring 2022, it will have the leeway to increase key interest rates from the summer of next year,” commented analyst Birgit Henseler from DZ Bank.
The shares of the software company Oracle shot up thanks to strong quarterly numbers by almost 16 percent. The SAP competitor performed better than analysts expected in the past quarter. According to UBS analyst Karl Keirstead, the company convinced against the background that other software companies had recently disappointed with their results.
Oracle’s positive image spread to many other companies in the software and IT sectors. In the Dow, the papers of Microsoft and Cisco rallied among the biggest winners with increases of 2.3 and 2.9 percent. For the title of Adobe it went up on the Nasdaq by 3.1 percent.
There were also very high price gains there from the chip company Broadcom with an increase of 7.4 percent. For the first time, more than 600 dollars were paid for the paper – with good figures, a pleasing outlook and announced share buybacks as a driver. Above all, there was praise for the margin of the semiconductor company.
Meanwhile, Tesla shares had to fight for the $ 1,000 mark. First the price fell below this threshold, but then it turned positive at 1.24 percent. In the market it was said that the share, which was still record high in November, is currently being influenced by the fact that CEO Elon Musk continues to sell shares.
The shares of the mRNA vaccine specialists Moderna and Biontech sagged by 4 and 7.8 percent. According to stockbrokers, the first study data on a flu vaccine from Moderna clouded the mood among the stocks, which had long been plagued by profit-taking. In the market, it was said that investors would have to find out from the news that mRNA technology does not work wonders in every area of application.
Shareholders of Peloton also had to put up with strong share price losses of 6.5 percent. You must gradually fear for the last price gains since the outbreak of the corona pandemic. On Friday, the home fitness specialist’s papers lost 7.2 percent after being downgraded by the Credit Suisse experts ./tih/jha/
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