NEW YORK (dpa-AFX) – Predominantly positive quarterly reports only briefly supported New York’s Wall Street on Friday after the previous day’s impressive rally. In the first half hour of trading, the high-tech Nasdaq exchanges turned negative, followed by the Dow Jones Industrial
. According to market analyst Michael Hewson of CMC Markets UK, in the day’s economic data, the one-year inflation expectations determined by the University of Michigan provided negative impetus for the markets. The increase from 4.7% in September to 5.1% in October weighed heavily, he commented.
The Dow fell back below the 30,000 points it regained on Thursday. About two hours before the market close, it fell 0.93% to 29,759.66 points. The day before, the best-known Wall Street index had initially fallen by nearly 2% in response to consistently high but slightly declining inflation figures. In the end, however, he had won an impressive 2.8%. Despite its current loss, it is now heading towards a half-percent weekly gain.
The S&P 500 it lost 1.79 percent on Friday to 3604.14 points. The Nasdaq 100 it fell 2.28 percent to 10,781.67 points, a loss of nearly two and a half percent over the course of the week.
Among the sectors, the focus was mainly on the banking sector, as several large financial institutions submitted quarterly reports. Only Morgan Stanley could do that do not convince. The bank disappointed the market in net profit and third quarter earnings. The stock fell in the S&P 100 more recently 4.6 percent. JP Morgan die Citigroup
and Wells Fargo on the other hand, it performed better than expected. Their shares rose between 1.3 and 3.2 percent.
There were also numbers from the Dow UnitedHealth member . Health insurance impressed with a surprisingly good third quarter and thus raised the bar for this year’s profit even further. The newspaper gained 1.1%.
On the other hand, investors reacted negatively to Beyond Meat’s announcements . The stock certificate fell 5.5%. The meat substitute producer is currently suffering from high inflation with falling demand and has lowered its sales target for 2022. Now it wants to save costs and is planning further job cuts.
The merger of the Kroger supermarket chains, which Bloomberg news agency had talked about the day before and Albertson
Meanwhile, there was news: the two companies want to form an industry giant with a nearly $ 25 billion transaction. After the two had earned the day before – the Albertsons stock in particular benefited from the club’s report – now there were losses. Krogers was down 5.8% and Albertsons was down 8.5%.
Nutanix jumped nearly 24% because, according to the Wall Street Journal, the cloud computing company is considering a sale. The business newspaper referred to people familiar with the matter. However, he said a buyer would likely have to pay a substantial premium at Nutanix’s nearly $ 5 billion market value.
ISIN US2605661048 US6311011026 US78378X1072
AXC0295 2022-10-14 / 20: 01
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