NEW YORK (awp international) – Investors continued to access the US stock exchanges on Friday. In the end, disappointing quarterly reports from Apple and Amazon did not cause much concern. Initially there was profit-taking in the tech sector, but the Nasdaq 100 clearly turned positive and set another record on its fifth consecutive profit day. The technology-heavy selection index closed 0.46 percent higher at 15,850.47 points and thus almost at the daily high. He posted a weekly plus of 3.2 percent and increased his October profit to almost 8 percent.
On Wall Street, the Dow Jones Industrial was fairly stable from the start. He crossed the finish line 0.25 percent higher at 35,819.56 points, but could not set a new record. In a weekly comparison, the US benchmark index rose 0.4 percent and ended October 5.8 percent higher. The market-wide S&P 500 made it above the 4600 mark for the first time on Friday. He went 0.19 percent higher at 4605.38 points over the finish line.
Market observer Jochen Stanzl from broker CMC Markets currently sees the US stock exchanges in a “really powerful bull market”. “The desire to buy shares is unbroken, especially in the Nasdaq 100 technology index – despite an initial negative reaction to the quarterly balance sheets of Amazon and Apple,” said the expert. The interest rate worries ahead of the next interest rate decision by the US Federal Reserve in the coming week were well taken off by the stock markets due to an overall astonishingly good reporting season.
The Apple shares remained clearly in the red because the technology company was caught up with the global chip shortage in the past quarter. Despite significant growth, the iPhone manufacturer missed the overly optimistic forecasts of experts. The bottlenecks in the supply chain and Corona failures in production would have pushed sales by around six billion dollars, said CEO Tim Cook. In the current quarter, the negative effect will be even higher, it said.
Apple shares fell by 1.8 percent at the end of the Dow, while those of Microsoft rose again to a record high by 2.2 percent. This led to a change in leadership in the race for the status of the most valuable company in the world: For the time being, the software company was able to just oust the iPhone manufacturer.
The online retailer Amazon also had no good news for its investors: It earned significantly less in the third quarter and warned of further high costs in view of delivery problems. With the outlook for the current quarter, Amazon dampened market expectations considerably. The share reacted with a price slide of 2.2 percent.
However, the shares of the electric car pioneer Tesla braced themselves against the Nasdaq weakness with an increase of 3.4 percent. They made it past the round $ 1,100 mark for the first time. The strong run, especially in the past 14 days, was thus continued.
Things also continued to improve for Facebook shares after a recovery was initiated with the renaming announced the previous evening. On Friday the papers advanced another 2.1 percent. The group is giving itself a new name with the umbrella brand Meta and wants to develop a communication platform of the future.
Among the standard values, the big oil companies were able to come up with positive figures: The shares of Chevron gained 1.2 percent after unexpectedly good results, at Exxonmobil the plus shrank to 0.3 percent in the end. Both benefited from the recent oil price rally over the past quarter.
In contrast, the Starbucks papers sagged by 6.3 percent by numbers. Business is flourishing at the world’s largest coffee chain – but not in the important foreign market of China. A new wave of corona caused lockdowns there again.
According to some economic data, the euro suffered significantly from the strengthened dollar. Most recently, it cost significantly less than $ 1.60 at $ 1.1562. The European Central Bank (ECB) set the reference rate at 1.1645 (Thursday: 1.1593) dollars. The dollar cost 0.8587 (0.8626) euros.
The prices of US Treasuries caught up after an initial slide. The futures contract for ten-year Treasuries managed rose 0.02 percent to 130.78 points. The yield on ten-year paper was 1.56 percent./tih/he
— By Timo Hausdorf, dpa-AFX —
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