The three main indices on Wall Street rose on Thursday.
- The industry Dow Jones– the index ended the day up 0.23 percent to a final quotation of 32,103.77 points.
- The wide S&P 500-index ended the day up 0.29 percent to 3,948.3 points.
- The technology index Nasdaq was the day’s winner with an increase of 1.01 per cent to 11,787.4 points.
Sales of new single-family homes in the US rose 1.1 percent in February on a monthly basis to a seasonally adjusted, annual rate of 640,000 units, figures from US statistics authorities show on Thursday.
On the oil market, however, the arrows point down at closing time on Wall Street at 21:00 Norwegian time.
Brent-oil drops by 0.66 percent, and a barrel now costs $75.18. At the same time, WTI oil drops by 2.16 percent to a price of USD 69.42 per barrel. With this, the week’s rise has been reduced to 2.68 per cent. In the last month, however, the price of oil has fallen by more than 6 per cent.
OPEC+, hedge fund managers and investors in oil have called the recent decline in oil prices “speculative” and believe that increasing demand will push prices to higher levels in the coming months, writes Reuters.
“There is concern that the supply side may be affected more than demand as a result of the banking crisis. US shale production is most exposed due to tighter credit conditions from regional US banks,” ANZ analysts write in a note, according to Reuters.
GameStop ended the day down 5.4 percent to a closing price of $22.58. Solid moves on the cost side meant that GameStop turned the bottom line from red to green in the fourth quarter (as of 31 January). The result ended at 48.2 million dollars, compared to a loss of 147.5 million the previous year. The investors responded by sending the stock up 34.56 percent to 23.75 in after-hours trading on the New York Stock Exchange on Tuesday.
The Fredriksen shipping company Golden Ocean Group ended the day up 1.95 per cent, and the price thus stands at 9.4 dollars per share. On Thursday, the Baltic Dry index, which shows the earnings level for shipping dry cargo such as coal, grain and iron ore, rose 1.9 percent to 1,484 points, according to TDN Direkt.
The technology giant Apple rose 0.7 percent to $158.93 per share. On Thursday, it was announced that Apple will spend 1 billion dollars, equivalent to 10.3 billion kroner, each year on the production of films that will first be released in cinemas, writes Bloomberg. It’s all part of the marketing of your own streaming service.
One of today’s winners was the streaming company Netflix , which rose 9 percent to $320.37 per share. Meta, the parent company of Facebook, ended the day up 2.24 percent at a price of $204.28 per share. Hedge fund manager Dan Niles believes that the share can be a good buy in the future.
In the crypto market, the arrows are pointing up just after closing time on Wall Street.
Bitcoin, which is the world’s largest cryptocurrency, rises by 3.38 percent at a price of 28,246.3 dollars per coin.
At the same time, both Ethereum and Ripple are rising by 4.26 and 5.09 percent respectively.