Home » News » New York equities: Dow stabilizes further – tech stocks advance again | 09/25/20

New York equities: Dow stabilizes further – tech stocks advance again | 09/25/20

NEW YORK (dpa-AFX) – On Wall Street, trading established itself in positive territory on Friday after a fluctuating start. At first investors found it difficult to access, but then the Dow Jones Industrial (Dow Jones 30 Industrial) picked up on its previous day’s recovery. Most recently it rose by 0.73 percent to 27,010.54 points. He was able to reduce the weekly minus marked by the price slide on Monday to 2.3 percent.

The Dow was thus more robust on Friday than the stock exchanges in Europe, which were mostly under pressure again. The economic and political uncertainties weighed on the mood in the beginning, said analyst Craig Erlam of broker Oanda. He referred to the coronavirus infection figures, which are still not encouraging, as well as the still missing US economic stimulus program and the upcoming US presidential election as important topics.

But then the strength that had recently been lost in the technology stocks set in again, which also gave the overall market a boost. Against this background, the technology-heavy selection index NASDAQ 100 rose by 1.67 percent to 11 079.88 points. The market-wide S&P 500 also performed slightly better than the Dow, with a recent 1.07 percent to 3281.31 points.

In the Dow, Boeing stocks, the front runner, rebounded 4.2 percent from their early June low, to which they had fallen the previous day. Encouraging statements from the European aviation safety authority on the 737 Max crisis jet supported the shares. Hints that their safety checks could be finished in November gave new hope that the lifting of the ongoing flight ban by the US agency FAA at the end of the year might still be realistic.

The second best Dow value and thus also a support on the Nasdaq were Apple shares with an increase of 2.9 percent. They were thus unimpressed by the appeal of the EU Commission against a judgment of the supreme court of the European Union. In July, the EU Commission declared a tax claim against Apple from 2016 null and void.

On the Nasdaq, the Tesla shares, which were recently under pressure, advanced by 3.9 percent this time. Also in demand were the papers of airlines and the travel sector in general. There the shares of the cruise lines Carnival and Royal Caribbean gained up to 8 percent. It was referred to a voice of Barclays analysts who see the industry at the turning point.

On the other hand, the shares of the retail chain Costco came under pressure. With a minus of 1.7 percent, they suffered from the fact that the wholesaler had disclosed extraordinary costs to protect customers due to Corona./tih/fba

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