NEW YORK (awp international) – After the gains in the past few trading days, the US stock markets took a hit on Friday. The most important indices did not move much.
The main Dow Jones Industrial index fell 0.16 percent to 40,497.66 points. Every week there is an increase of 2.5 percent.
The S&P 500 remained market-wide at nearly 5,542.90 points on Friday. The tech-heavy Nasdaq 100 fell 0.05 percent to 19,480.46 points.
After the drop in prices at the beginning of August, the US economy has recently shown itself to be resilient. “Recent data, from inflation to jobless claims to retail sales, have reassured investors and supported optimism that the world’s largest economy is headed for a recovery ‘Goldilocks’,” said a market watcher. This would mean controlling inflation and allowing interest rates to be cut while growth is stable.
Friday’s economic data did little to change this optimistic picture. Building permits and construction work in July were disappointing. However, the consumer climate for August surveyed by the University of Michigan was a pleasant surprise.
Among the individual stocks, the shares of Applied Materials lost almost four percent after the presentation of business figures at the end of the Nasdaq 100. According to the market, these and the outlook for the current quarter were okay compared to analysts’ expectations. However, a price increase of five percent the previous day indicates that some investors had hoped for a little more from the semiconductor industry supplier.
Shares of Biontech and its partner Pfizer lost four and nearly three percent respectively. The vaccine manufacturer Biontech was able to achieve only one of two main goals with the preparation of a combination against the flu and corona in the third phase of research. It did not show an equivalent immune response against the influenza B strain compared to an already approved vaccine.
Shares of Sphere Entertainment rose 6.5 percent, benefiting from positive views from analysts. The shares’ risk/reward profile is now attractive again, analysts at JPMorgan wrote. The Sphere Entertainment group operates in the media and live entertainment sector./la/he
2024-08-16 14:45:53
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