Business, Trade & Finance: ROUNDUP/Stocks New York: Barely changed

The Dow Jones Industrial fell 0.33 percent to 35,111.44 points. The S&P 500 fell 0.09 percent to 4,598.47 points, while the Nasdaq 100 turned positive, gaining 0.04 percent to 15,078.19 points.

With the quite moderate losses, the very volatile first quarter should end relatively quietly. After the first three months of the new year, the Dow is currently around three and a half percent in the red. After it climbed to a record level of just over 36,950 points right at the beginning of the year, inflation and monetary tightening measures became increasingly important. Five weeks ago, Russia then started the war against Ukraine, which pushed the most well-known Wall Street index to around 32,270 points and thus to its lowest level in a year. In the most recent recovery, however, the Dow made up for two-thirds of the setback.

Despite its recent race to catch up, the technology index Nasdaq 100 is far worse in the race with a minus of almost eight percent in the year to date. The turnaround in interest rates initiated by the US Federal Reserve prompted many investors to part with their tech darlings. But since its March low, the Nasdaq selection index has also made it more than halfway to the record of just over 16,760 points from November.

US stocks have held up relatively well in what has been a volatile year so far. However, if investment strategist Peter Oppenheimer from Goldman Sachs is right, then there would initially be little upside potential, at least on Wall Street. His target for the market-wide S&P 500 by the end of the year is 4700 points, just 100 points above the current level. He believes stocks in Europe and especially Asia are a little more capable. At the same time, Oppenheimer does not consider the recent recovery to be irrational. On the contrary, further negative real interest rates and a share valuation that lagged behind the earnings development of companies justify it.