NEW YORK (awp international) – At the end of a strong week on Friday there were again clear profits on the US stock exchanges. The Dow Jones Industrial expanded its plus, especially in late trading, to 0.60 percent. The leading index closed close to the daily high at 35,970.99 points. It almost reached the 36,000 mark for the first time since mid-November. The weekly plus is four percent.
The market-wide S&P 500 rose on Friday by 0.95 percent to 4712.02 meters. For the Nasdaq 100 it even went up 1.13 percent to 16,331.98 points. The technology stocks gathered there had suffered from profit-taking the day before. Strong price gains at Oracle and Broadcom improved the picture in the industry. Over the course of the week, the tech value index rose by just under four percent.
US inflation at its highest level since 1982 did not worry investors further as it was roughly in line with expectations. In the market it was said that the US Federal Reserve would at least not come under any more pressure than previously thought.
The shares of the software company Oracle shot up 15.6 percent thanks to strong quarterly figures. The SAP competitor performed better than analysts expected in the past quarter. According to the UBS analyst Karl Keirstead, the group convinced against the background that some other competitors had recently disappointed.
Oracle’s positive image spread to many other companies in the software and IT sectors. In the Dow, the papers from Microsoft and Cisco rallied at the top with increases of close to three percent. For the title of Adobe it went up on the Nasdaq by 3.5 percent.
There were also very strong price gains of 8.3 percent in the tech sector for investors in the chip company Broadcom. For the first time, more than 600 dollars were paid for the paper – with good figures, a pleasing outlook and announced share buybacks as a driver. Above all, there was praise for the margin of the semiconductor company.
Meanwhile, Tesla shares had to fight for the $ 1,000 mark. First the price fell below this threshold, but then they turned up and closed at 1.3 percent in the profit zone. On the market it was said that the electric car maker would be further influenced on the stock market by the fact that CEO Elon Musk parted ways with shares.
The shares of the mRNA vaccine specialists Moderna and Biontech fell 5.6 and 9.3 percent, respectively. According to stockbrokers, the first study data on a flu vaccine from Moderna clouded the mood among the stocks, which had long been plagued by profit-taking. In the market, it was said that the news meant that investors had to find out that mRNA technology was not working wonders everywhere.
Otherwise there were heavy price losses for the shareholders of Peloton. You must gradually fear for the last price gains since the outbreak of the corona pandemic. On Friday, the home fitness specialist’s papers lost 7.2 percent after being downgraded by the Credit Suisse experts.
A big winner, on the other hand, were the papers from Costco, which rose by 6.6 percent according to the quarterly figures presented. According to Barclays Bank expert Karen Short, the wholesale chain has had another strong quarter. She continues to believe that Costco is better positioned than most other retail companies to thrive in the current difficult industry environment.
The euro has picked up. The common currency last cost 1.1317 dollars. The European Central Bank (ECB) had set the reference rate at 1.1273 (Thursday: 1.1311) dollars. The dollar cost 0.8871 (0.8841) euros.
US Treasuries have moved little. The futures contract for ten-year Treasuries rose 0.02 percent to 130.42 points. The yield on ten-year government bonds was 1.49 percent./tih/jha
— By Timo Hausdorf, dpa-AFX —
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