NEW YORK (dpa-AFX) – Statements by the Russian President about the talks with Ukraine did not ignite on the US stock exchanges on Friday, on the contrary: the leading index Dow Jones Industrial (Dow Jones 30 Industrial) lost 0.69 percent to 32 946.76 points. Vladimir Putin identified “certain positive changes” in talks with Ukrainian officials. However, US investors were not impressed.
On a weekly basis, the Dow Jones Industrial (Dow Jones 30 Industrial) posted a minus of around two percent. The other major indices posted higher losses on Friday: the broad S&P 500 lost 1.31 percent to 4203.91 points. The technology-heavy NASDAQ 100 lost 2.13 percent to 13,301.83 points. Here the weekly loss added up to almost four percent, which was the largest weekly minus since January 2021.
“I would caution that Putin has said a lot in recent weeks, and most of it was untrustworthy,” said Craig Erlam, an analyst at Oanda. There is little reason for optimism, even if markets are rising again, and he probably agrees with the majority on this view. Investors are better off waiting for further developments. If, however, the positive signals accumulate, then a recovery could actually begin on the markets.
Analyst Michael Hewson from broker CMC Markets pointed out that the European stock exchanges had already lost most of their strong price gains in the further course of trading. Putin’s statements lack details. In addition, Russia continues to bomb cities in Ukraine and sends additional military resources towards the country.
With a view to individual values, the shares of the software group and SAP (SAP SE) rival Oracle were in focus according to quarterly figures. After initial price losses, the shares rose by 1.5 percent. When it comes to sales, Oracle has achieved its strongest growth in a while, said Barclays analyst Raimo Lenschow.
Chinese companies listed on Wall Street include ride-sharing company Didi (DiDi Global A). Its shares fell more than 40 percent to a record low since the IPO last summer. According to a report by the Bloomberg news agency, Uber’s counterparty has put plans for an IPO in Hong Kong on hold due to difficulties with Chinese authorities.
A production forecast by the electric car manufacturer Rivian (Rivian Automotive), which is classified as weak and which is making life difficult for supply chain problems, caused the share price to slide by 7.6 percent. That also meant a record low since the IPO in November 2021.
The euro exchange rate fell and was last at 1.0910 dollars. The ECB had previously set the reference rate at $1.0990 (Thursday: $1.1084). The dollar had thus cost 09099 (0.9022) euros.
US government bonds extended the recent losses somewhat. The futures contract for ten-year Treasuries (T-Note Future) fell by 0.05 percent to 126.03 points. The return on ten-year government bonds was just under 2.00 percent./bek/he
— By Benjamin Krieger, dpa-AFX —
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