NEW YORK (dpa-AFX) – Share prices in New York and on the Nasdaq started to recover again on Thursday. After the last four trading days in a row with losses, the leading index Dow Jones Industrial rose by 0.88 percent to 35,336 points in early trading. The day before, the Dow had already tried to stabilize, but this had quickly come to a standstill and prices came under pressure in late trading.
In the past few days, the persistently high level of inflation and the associated expectation of a much more restrictive monetary policy from the US Federal Reserve had weighed on the stock exchanges. Some market participants expect interest rates to rise by half a percentage point at the Fed’s March meeting.
The market-wide S&P 500 recovered on Thursday by 0.96 percent to 4576 points. The technology-heavy Nasdaq 100, which had recently come under more pressure, now also increased more strongly by 1.48 percent to 15,271 points.
The shares of The Travelers led the Dow with a plus of four percent. The major insurer managed a jump in profits of more than a third in 2021 despite high hurricane and tornado losses.
The quarterly report from Alcoa was also well received on the market, the price rose by two percent. High prices for aluminum and intermediates more than compensated for the recent increase in energy and raw material costs.
On the other hand, the quarterly figures and forecasts of the airlines American Airlines and United Airlines were not worth buying for investors. Both stocks suffered losses. American Airlines expressed restraint on sales in the current quarter. United Airlines’ current quarter statements also suggested a slower recovery in air travel.
Beyond Meat stock gained nearly 4 percent. According to a media report, the fast food chain McDonald’s wants to expand its cooperation with the manufacturer of meat substitutes.
After the market close, the quarterly figures of the streaming provider Netflix are eagerly awaited. After a record high in November at over 700 US dollars, the shares had recently collapsed to almost 500 dollars./bek/he
– –
