Wall Street got off to a stable start to a packed week. Investors are eagerly awaiting various quarterly figures from American companies and the Fed’s interest rate decision.
(Photo: AP)
Frankfort, New York Optimistic prospects from the two technology groups Amazon and Apple lift the spirits of US investors. The US standard value index Dow Jones closed Friday one percent higher at 32,845 points. The tech-heavy Nasdaq advanced 1.9 percent to 12,390 points. The broad S&P 500 gained 1.4 percent to 4,130 jobs. On a monthly basis, the Dow was up 6.7 percent, the S&P was up 9.1 percent and the Nasdaq was up 12.3 percent.
The surprising decline in US economic output in the second quarter again gave investors headaches. “This formally fulfills the definition of a technical recession,” said Ulrich Stephan, chief investment strategist for private and corporate customers at Deutsche Bank. This makes it more difficult for the US Federal Reserve to decide on further rate hikes, portfolio manager Paul Nolte from asset manager Kingsview pointed out. “Will it continue to fight inflation or will it bow to slowing growth?”
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