NEW YORK (awp international) – On the US stock market, the economically sensitive technology sector continued its good run on Friday. The industry benefited from unexpected consumer sentiment brightening slightly in October, as measured by the University of Michigan. On the other hand, normal values continued to lag behind. Overall, the upcoming elections are causing uncertainty among stock investors. Against this background, yields on the government bond market, which is considered safe, rose significantly over the week.
After initial gains, the Dow Jones Industrial slipped into the red and eventually fell 0.61 percent to 42,114.40 points. There is a minimum rate of 2.68 percent per week. The market-wide S&P 500 fell 0.03 percent to 5,808.12 points on Friday.
The Nasdaq 100, which is dominated by technology stocks, rose 0.59 percent to 20,352.02 points. Price gains in some of the biggest tech stocks weighed on the front. The broader technology index Nasdaq Composite even rose to a record high and eventually rose 0.56 percent to 18,518.61 points.
Looking at Big Tech stocks, chip maker Nvidia and streaming provider Netflix were nearing their all-time highs again before the trend faded. At the end of trading, Nvidia was up 0.80 percent, while Netflix was almost flat. Apple, Amazon, Microsoft, Meta and Alphabet gained between 0.4 and 1.6 percent.
At the end of the Dow, McDonald’s shares fell nearly three percent. The US health authority CDC had reported more cases of coliform outbreaks at the fast food chain.
Bank stocks also came under pressure after financial house New York Community Bancorp shocked investors with a disappointing outlook. The bank’s securities rating fell by more than eight percent. In the Dow, JPMorgan fell a good one percent and Goldman Sachs more than two percent.
Among the best stocks in the S&P 500, Western Digital rose 4.7 percent. The specialist for data storage solutions presented quarterly figures and surprised with its adjusted earnings per share.
Colgate-Palmolive shares lost more than four percent. The consumer goods group benefited from generally good business with personal care and household products as well as pet food in the third quarter. However, experts point to disappointing sales in North America.
In the fashion sector, Capri Holdings fell by almost half after a judge blocked its planned sale to Tapestry, citing competition concerns. Tapestry rose 13.5 percent to top the S&P 500.
The euro lost most of its gains from the previous day and was trading at $1.0797. The European Central Bank had set the reference rate at 1.0825 (Thursday: 1.0801) dollars. So the dollar cost 0.9237 (0.9258) euros.
On the US bond market, the futures contract for ten-year US government bonds (T-Note Future) fell 0.24 percent to 111.02 points. Their yield rose accordingly to 4.24 percent./la/he
2024-10-25 20:37:00
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