NEW YORK (dpa-AFX) – The buying mood of investors on New York’s Wall Street continued at the end of the week. Friday was the fifth consecutive day of profits for the Dow Jones Industrial (Dow Jones 30 Industrial). The record high it reached at the end of January temporarily approached to around 20 points. The market-wide S&P 500 and the technology-heavy Nasdaq indices, on the other hand, have already exceeded their highs again.
According to market observers, however, the positive impulses did not come from the US labor market report for January, as it disappointed in parts. Rather, it was said that the hope for a general sustained economic recovery continued to drive. Especially in view of the ongoing vaccination campaigns and the expected Corona aid package. Accordingly, the stock exchanges are “currently quite immune to negative news,” as Portfolio Manager Thomas Altmann from QC Partners said.
Ultimately, the Dow rose 0.30 percent to 31,148.24 points. His weekly plus is 3.9 percent. For the S&P 500 it rose 0.39 percent to 3886.83 points on Friday. The Nasdaq Selection Index 100 (NASDAQ 100) advanced 0.32 percent to 13,603.96 points.
Regarding the US labor market, Altmann wrote: “The good news is that the US labor market is growing again. The bad news is that it is growing very slowly.” All in all, the report shows that the current Covid-19 wave is not a tragedy for the US economy, but that it is still costing considerable growth.
According to the US Department of Labor, the monthly unemployment rate fell 0.4 percentage points to 6.3 percent in January. Analysts, however, had expected an unchanged rate. However, the increase in employment was disappointing: instead of an expected increase of 105,000 jobs, employment outside of agriculture only increased by 49,000.
Among the individual stocks, the shares of Nike rose 3.2 percent at the top of the Dow. In Europe, stocks such as Puma (PUMA SE) or adidas had already gained after industry colleague Columbia Sportswear was able to impress with surprisingly strong quarterly figures. The shares of outdoor equipment gained 15.1 percent.
Johnson & Johnson (JohnsonJohnson) gained 1.5 percent. The pharmaceutical and consumer goods company applied to the US FDA for emergency approval for its corona vaccine.
Ford (Ford Motor) shares rose 1.2 percent. The second largest US automaker was deeply in the red at the end of the year, but wants to significantly increase investments in electric vehicles. In addition, Ford posted earnings per share on an adjusted basis rather than an expected loss.
The Snapchat photo app gained 16 million daily users in the past quarter. At the same time, however, the forecast for the current quarter was disappointing. The shares of the operating company Snap, which initially fluctuated between gains and losses, ultimately closed with a hefty premium of 9.1 percent.
For the papers of T-Mobile US (T-Mobile (ex T-Mobile US)), however, it went down by 4.1 percent after a disappointing profit forecast. Peloton Interactive lost 5.9 percent. The home fitness specialist is having a hard time digesting the explosive growth of its business in the corona crisis. In the past quarter, the billion mark in sales was cracked for the first time, but the company cannot keep up with deliveries.
On the other hand, Magnite’s shares shot up by 26.4 percent. The technology company, which specializes in advertising services, wants to take over RTL’s advertising subsidiary SpotX.
The euro continued to gain noticeably in US trading and cost 1.2049 US dollars at the close of the market on Wall Street. On the night of Friday the price had fallen to $ 1.1952, a two-month low. The European Central Bank set the reference rate at 1.1983 (Thursday: 1.1996) dollars. The dollar cost 0.8345 (0.8336) euros. On the US bond market, the price of ten-year government bonds (T-Note future) fell by 0.10 percent to 136.66 points after a little changed start. The yield rose to 1.174 percent./ck/he
— By Claudia Müller, dpa-AFX —
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