NEW YORK (dpa-AFX) – Strong quarterly figures from both the “old economy” and the new technology world of Twitter and Snap fueled the share rally in New York on Friday. The technology-heavy Nasdaq 100 index reached a record high in the first few minutes of trading and was most recently still 0.32 percent up to 14,987 points.
For the leading index Dow Jones Industrial it went up 0.42 percent to 34,969 points. He was denied a record high as was the market-wide S&P 500, which climbed 0.42 percent to 4,386 meters. Both stock market barometers, however, are not missing much for further highs.
With American Express and Honeywell, two other stocks from the Dow Jones Index published quarterly reports and outlooks. These were well received in the market, the shares of American Express rose at the top of the Dow by 3.7 percent and also pulled the paper of the counterparty Visa up by 1.5 percent. American Express has never before won so many new customers for the Nobel Platinum Card in one quarter as in the months of April to June.
The course of the industrial group Honeywell rose by 1.7 percent. Both the aerospace business and the energy division of the conglomerate had recovered even better from the corona-related slump than analysts had expected.
But Snap’s shares caused a sensation: They soared 23 percent to their highest level since the IPO more than four years ago. The technology and social media company recently found many new, active followers with new offers, especially among young people, which in turn attracts the advertising companies.
The course news service Twitter had also benefited significantly from advertisers in the past quarter. For the shares it went up by 1.5 percent. In view of the good news from Twitter and Snap, the prices of other industry giants such as Facebook and Pinterest also rose strongly.
The bad news of the day came from Intel. The chip giant expects the global semiconductor shortage to worsen in the coming months and continue into 2023. On the stock exchange, the sales forecast for the current year was also disappointing. The price slipped more than five percent at the end of the Dow./bek/he
Source: dpa-AFX
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