Home » News » New York stocks: Dow remains under pressure, tech stocks rebound | 02/26/21

New York stocks: Dow remains under pressure, tech stocks rebound | 02/26/21

NEW YORK (dpa-AFX) – On Wall Street, the Dow Jones Industrial (Dow Jones 30 Industrial) gave way on Friday. Fears of inflation remained the dominant theme, even if the situation on the bond market has calmed down for the time being. Recently there were the returns for fear of a tighter one Monetary policy soared to ward off inflationary tendencies. Rising interest rates make bonds appear in a better light than stocks.

The Dow fell 1.11 percent to 31,053.18 points. It was not until Wednesday that the stock market barometer reached a record high after Fed Chairman Jerome Powell tried to calm down monetary policy.

The market-wide S&P 500, however, barely moved on Friday at 3828.18 points. The technology-heavy NASDAQ 100 recovered somewhat from its fall on Thursday and rose 1.01 percent to 12,958.25 points.

Despite the recent losses, the markets are currently far from being in free fall, wrote Craig Erlam of broker Oanda. The yields on US bonds would remain at a very low level compared to their historical values.

At the Dow end, Salesforce’s shares plummeted more than five percent. At first glance, the software company is surprisingly optimistic about the future, thanks to an apparently increasing interest from customers. However, the expert Mark Moerdler from the analysis company Bernstein Research was concerned about declining revenue growth and the sustainability of margins. The company’s outlook also factored in acquisitions. Excluding this, the Group’s growth targets would be below the longer-term horizon.

Investors, on the other hand, took hold of the papers of the apartment broker Airbnb, which despite a mega loss in the past year apparently comes through the crisis better than expected. After the severe slump at the beginning of the pandemic, business has recently recovered significantly. The share certificates soared by a good 14 percent.

The ailing video game retailer GameStop remained in view of the violent price capers of recent times. On Friday, the paper, which has become a pawn for speculators, was ten percent in the red./la/he

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