NEW YORK (dpa-AFX) – On the day of the great decline, there is a minor mood on Wall Street. Broker IG estimated the Dow Jones Industrial (Dow Jones 30 Industrial) on Friday three quarters of an hour before the start about one percent lower to 33,486 points. He is heading for the fifth weak trading day in a row and a weekly loss of around 1000 points. Currently he would increase his weekly minus to almost three percent.
Things looked better recently on the technology-heavy Nasdaq stock exchange, with the NASDAQ 100 selection index setting a new record just above 14,200 points the evening before. “Stocks that promise high growth are currently somewhat more popular again compared to cyclically fluctuating and value stocks,” said market analyst Sophie Griffiths from broker Oanda. On Friday, however, it appears that tech stocks will not be able to escape the losses. According to the latest estimate, the Nasdaq 100 should fall by 0.6 percent.
In terms of volatility, investors should keep in mind on Friday the fact that the futures markets routinely experience large expansions. At this point, share and index prices can fluctuate noticeably because larger fund or asset managers in particular try to move the prices in the direction they want when the contracts expire. This can result in fluctuations even without significant company or economic news.
On the corporate side, Adobe Systems (Adobe) came up with almost three percent price gains before the trading day, which means that the shares are heading towards a record level. The figures for the second quarter clearly exceeded expectations. According to DZ expert Ingo Wermann, they were “completely convincing”. The software company is benefiting from the relocation of advertising budgets to the Internet and from increasing investments, according to the expert./tih/jha/
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