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NEW YORK (awp international) – Business figures from companies, which were predominantly received positively, brought further gains to the US stock exchanges on Friday. The Dow Jones Industrial increased by 0.26 percent to 34,484.63 points. This indicates a weekly gain of a good 2 percent for the New York leading index.
The market-wide S&P 500 rose 0.12 percent to 4515.59 points on Friday. The tech-heavy Nasdaq 100 index rose 0.63 percent to 15,669.73 points.
Among the reporting companies, Unitedhealth stood out positively at the end of the week with a plus of seven percent. This put the shares clearly at the top of the Dow. In view of the strong current business and good growth prospects, the health insurer narrowed its annual profit target upwards. In the past quarter, the company exceeded analysts’ expectations in terms of sales and earnings.
The high key interest rates gave the big banks a strong boost in profits. JPMorgan, Wells Fargo and Citigroup made a combined profit of $22 billion last quarter, up 37 percent from a year ago. Because the banks could charge significantly more for loans and, on the other hand, increased the interest on customer deposits much more slowly. The result: the margin increased and with it the profits.
Investors, however, took note of this with more or less a shrug. JPMorgan shares gained 0.5 percent and Wells Fargo was slightly down after initial gains. Citigroup’s shares are also slipping into the red and recently lost more than 2 percent.
Shares in Nikola continued their 60 percent rally from the previous day with a price premium of 11 percent. The truck maker announced a deal with Bayotech on Thursday to promote reliable hydrogen supply for commercial vehicle fleets. Accordingly, the company will buy up to 50 hydrogen trucks from Nikola over the next five years. The supplier of the fuel cells is said to be the German automotive supplier Bosch, with Nikola as a pilot customer.
Leslie’s shares have fallen to a record low, most recently down a third. The direct sales company for swimming pool needs had lowered the outlook for the 2023 financial year./la/he
2023-07-14 14:48:36
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