The Nasdaq 100 advanced 0.63 percent to 13,845.06 points at the end of the trading day. It is now less than 35 points away from the record high it reached in mid-February. The Dow gained 0.89 percent to 33,800.60 points, which is an increase of around two percent on a weekly basis. The S&P 500 rose 0.77 percent to 4128.80 points on Friday. All three indices closed just below their daily highs. Economic optimism and cheap money from the central bank are driving the default values more and more.
Chart technology expert Franz-Georg Wenner from Index Radar also named the friendly seasonality and intact market technology as positive factors. Investors who have invested stayed in the market and bet on further rising prices. However, there are also numerous players who are hoping for smaller setbacks and who increase their share quota when prices fall. This interaction ensures that there are no major losses and that the market remains stable.
In the US, producer prices rose faster than expected in March. If the returns on the capital markets rise with increasing inflation, then credit can become more expensive for companies. This, in turn, affects technology companies more, which are dependent on investments in IT and software. The yield on ten-year US government bonds initially trended in the direction of 1.7 percent on Friday, and was recently only around 1.66 percent. This also helped tech stocks up again. The futures contract for ten-year Treasuries (T-Note-Future) fell by 0.21 percent to 131.77 points.
The shares of the industrial group Honeywell rose 3.24 percent at the top of the Dow, driven by a buy recommendation from Deutsche Bank. The papers of the pharmacy chain Walgreens Boots Alliance were at the bottom with minus 1.11 percent. Johnson & Johnson lost a similar amount at 1.06 percent. The EU Medicines Agency (EMA) examines cases of thrombosis after a corona vaccination with the manufacturer’s vaccine.
The manufacturers Pfizer and Biontech, on the other hand, had positive vaccine reports. You want to use your corona vaccine in the USA in the future on adolescents from the age of twelve. The Biontech depository receipts gained 6.68 percent, Pfizer closed 1.78 percent higher.
For the shares of Levi Strauss it went up by 2.6 percent after quarterly figures and an increase in the outlook. The jeans producer did better than expected, wrote market analyst Michael Hewson of CMC Markets UK. Although sales fell significantly at the beginning of the year, this should not have been too surprising in view of the closed shops in Europe. The group has benefited from the online business.
After the US market closed, US $ 1.1905 was paid for one euro. The European Central Bank (ECB) had set the reference rate at 1.1888 (Thursday: 1.1873) dollars, the dollar thus cost 0.8412 (0.8423) euros./ajx/he
— By Achim Jüngling, dpa-AFX —
(AWP)
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