NEW YORK (awp international) – Statements by the Russian President about the talks with Ukraine did not go down well on the US stock exchanges on Friday. Vladimir Putin identified “certain positive changes” in talks with Ukrainian officials. The leading index Dow Jones Industrial was recently up 0.17 percent to 33,232 points. However, the stock market traders were skeptical.
“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 should better leave the church in the village. However, if the positive signals accumulate, then a recovery could actually begin on the markets.
On a weekly basis, the Dow Jones Industrial is showing a minus of a good one percent. Other major indices posted losses on Friday: the market-wide S&P 500 was down 0.25 percent at 4249 points. The technology-heavy Nasdaq 100 fell 0.86 percent to 13,474 points.
Analyst Michael Hewson from broker CMC Markets pointed out that the European stock exchanges had already lost most of the 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 rival Oracle were in view according to quarterly figures. After initial price losses, the shares recently rose by 3.7 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 ridesharing company Didi. 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, which is classified as weak and is making life difficult for supply chain problems, caused the share price to slide by 7.7 percent. That also meant a record low since the IPO in November 2021./bek/he
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