The Dow widened its recent losses significantly, falling 0.75 percent to 35,601.98 points. On a weekly basis, the result is a minus of 1.38 percent. For the market-wide S&P 500 it went down on Friday by 0.14 to 4697.96 points. The Nasdaq 100 but gained 0.55 percent to 16,573.34 points. The Nasdaq Composite was up 0.40 percent.
The tech values are currently being driven by some good company news as well as by the continued favorable environment. For example, the US Federal Reserve (Fed) will probably take its time with an interest rate hike, which many economists believe is the sharpest sword for combating inflation, even if Fed Director Christopher Waller has spoken out in favor of a faster exit from the loose monetary policy this Friday would have. Low interest rates make it easier for the generally very growth-oriented companies in the industry to get financing.
Among the biggest winners on the Nasdaq 100, the shares of Moderna rose by around five percent. The U.S. Food and Drug Administration (FDA) had approved corona booster vaccinations containing the company’s vaccine.
At the top of the index, Intuit’s papers shot up a good ten percent. The US investment bank Goldman Sachs had previously issued a buy recommendation for the shares. The software company was a few years ago with growth in the high ten percent range, wrote analyst Kash Rangan.
Applied Materials shares lost five and a half percent. Analysts were disappointed with the business development of the semiconductor company in the past and the outlook for the current quarter.
At the end of the Dow, Boeing’s shares fell 5.8 percent. The aircraft manufacturer suffered from fears that travel would be restricted again. A report in the Wall Street Journal about another slowdown in production of the 787 Dreamliner played into the hands of the gloomy mood. The “Dreamliner”, which was launched around ten years ago as the long-haul jet of the future, has been a problem for the group for a long time. This year Boeing had to temporarily stop deliveries due to various production problems and reduce the production rate.
The euro suffered from the increased corona worries and last cost 1.1288 US dollars. The European Central Bank had previously set the reference rate at 1.1271 (Thursday: 1.1345) dollars. The dollar cost 0.8872 (0.8815) euros.
The futures contract for ten-year Treasuries (T-Note-Future) rose accordingly by 0.23 percent to 130.88 points. The yield on ten-year government bonds fell to 1.54 percent./la/he
— By Lutz Alexander, dpa-AFX —
(AWP)
–
