The S&P 500 across the board, which had set a new record the previous day, rose 0.26 percent to 5,760.16 points on Friday. The technology-heavy Nasdaq 100 fell 0.15 percent to 20,086.22 points.
In the US, consumer spending rose less than analysts expected in August compared to the previous month. US consumer sentiment – measured by the University of Michigan Index – was brighter than expected in September. The rise in the PCE deflator of personal consumption expenditures — the Fed’s favorite price measure — fell short of forecasts. This means that there is hardly anything standing in the way of a further US interest rate cut in November that was hoped for on the stock exchanges.
Shares in department store chain Costco lost 1.9 percent to $884 after announcing detailed business figures. This means that they are likely to continue their recent consolidation at a high level – two weeks ago they reached a high of almost $924. The surprisingly good profit development in the last quarter did not help the share price. Costco had already mentioned the sales development earlier.
With a gain of 0.1 percent, Intel shares barely accepted the news that the semiconductor company had rejected a purchase offer from British chip design company ARM Holdings for its manufacturing division. This was reported by the Bloomberg news agency, citing insiders. The ARM shares traded on Nasdaq lost 2.1 percent./edh/men
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AXC0209 2024-09-27/16:55
2024-09-27 14:55:00
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