NEW YORK (dpa-AFX) – At the start of the reporting season in the USA, the New York stock market extended its previous day’s losses on Friday. The numbers and outlook of some US financial groups were mostly disappointing. The technology stocks, which had come under strong selling pressure again the day before, did not recover either. They are particularly suffering from interest rate fears, which increased again after some US monetary authorities signaled that they wanted to fight inflation aggressively.
Der US-Leitindex Dow Jones Industrial
recently fell by 0.86 percent to 4619 points. The tech-heavy Nasdaq 100
US economic data also gave little cause for celebration. Sales in the important US retail sector fell much more sharply than expected in December. Industrial production for December also fell short of expectations. The consumer climate survey by the University of Michigan was also disappointing and fell to its lowest level in over ten years in January. In contrast, the rise in prices for goods imported from the USA weakened more than expected in December.
A few large banks traditionally started publishing company figures for the fourth quarter before the weekend, but the majority of their results did not meet expectations. This included the numbers from JPMorgan
However, JPMorgan’s trading business did worse than experts thought. CEO Jamie Dimon also warned of continued inflation risks and set investors at significantly rising costs. That was not well received by the market: JPMorgan shares slipped 6.3 percent at the Dow end. With American Express
Two other financial stocks in the leading US index were among the biggest losers with price losses of 4.8 and 3.8 percent respectively.
Also at Citigroup
The papers of the world’s largest wealth manager Blackrock
ISIN US2605661048 US6311011026 US78378X1072