NEW YORK (dpa-AFX) – After another rollercoaster ride, the US stock markets partially recovered from the recent series of losses on Thursday and rose significantly. The stock markets rose more strongly than in seven weeks after good quarterly figures from some tech heavyweights fueled optimism that corporate profits could withstand a restrictive US monetary policy. Investors also saw signs of solid consumer demand despite a surprise slowdown in economic growth.
The initially firmer Dow Jones Industrial
“We have corrected a great deal in a very short space of time and given the oversold levels I think we could be poised for a bounce if earnings continue to come in better than feared,” said Anastasia Amoroso, chief investment strategist at iCapital. “The problem is: How long will this upswing last?”
Very positively received business figures of the Facebook parent company Meta
Meanwhile, the US economy contracted surprisingly over the winter. Gross domestic product (GDP) fell an annualized 1.4 percent in the first quarter. Economists, on the other hand, had expected growth of 1.0 percent. As expected, initial jobless claims fell slightly last week.
After the number of Facebook users increased significantly again at the beginning of the year after a recent slump, the papers of the social media giant Meta soared by almost 18 percent. DZ Bank expert Ingo Wermann spoke of a “rally of relief” and then gave up his previous sell recommendation. According to Evercore ISI analyst Mark Mahaney, the rating of the paper has “now become downright ridiculous” for a leading global social media platform.
There was also relief in the tech industry because of good numbers from Qualcomm
The earnings season also continued among Dow members with agendas packed to the brim. However, there was more mixed news here overall. There were price gains of 2.9 and 4.9 percent at McDonald’s
This was offset by losses of 4.3 at Amgen
The Euro
US Treasuries continued the losses they suffered midweek. The futures contract for ten-year Treasuries (T-Note Future) recently fell by 0.18 percent to 119.58 points in the course of trading. The yield on ten-year government bonds rose to 2.83 percent./edh/he
ISIN US2605661048 US6311011026 US78378X1072
AXC0454 2022-04-28/22:43
Copyright dpa-AFX business news GmbH. All rights reserved. Redistribution, republication or permanent storage without the express prior consent of dpa-AFX is not permitted.
–