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 with losses in a row, the leading index Dow Jones Industrial (Dow Jones 30 Industrial) recently rose by 0.74 percent to 35,288 points. 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 0.89 percent to 4573 points. The technology-heavy NASDAQ 100, which had recently come under more pressure, now also gained a little more with 1.11 percent to 15,216 points.
At the top of the Dow, shares of The Travelers rose to a record high, up five 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 (Arconic) was also very well received on the market, the price rose by 5.5 percent and was close to its highest level since 2008. High prices for aluminum and intermediate products more than compensated for the recently increased costs for energy and raw materials.
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.
Peloton shares fell 16 percent. According to a media report, the manufacturer of fitness equipment is temporarily stopping the production of certain products. The share price had benefited massively from the corona pandemic last year.
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
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