No new records are in sight on the US stock exchanges.
(Photo: AP)
Dusseldorf US investors quickly got over their disappointment with the balance sheets of tech giants Amazon and Apple. After initial losses, the record hunt on Wall Street picked up speed again on Friday. The Nasdaq technology exchange index marked a fresh all-time high of 15,460 points. The Dow Jones index of standard values rose 0.3 percent to 35,834 points. The broader S&P 500 gained 0.2 percent to 4603 points.
Despite rising inflation, US consumers remained in the buying mood in September, which calmed investor nerves somewhat. Consumer spending increased by 0.6 percent compared to the previous month, a little more than economists expected. Private consumption is considered to be the backbone of the US economy.
However, the mood was depressed by the disappointing business figures from Amazon and Apple. Delivery bottlenecks affected the business of the online retailer and the iPhone provider and could also threaten the important Christmas business. The shares were still able to recover from their daily lows and were then 2.6 and two percent in the red. “The reason everyone looks at Apple and Amazon is because they are weighty and weaken the Nasdaq, but it definitely won’t affect sentiment much about strong corporate balance sheets,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.
Look at the individual values
Microsoft: Thanks to Apple’s price losses, Microsoft wrested the crown from its competitor as the world’s most valuable company on the stock exchange. Apple’s market value shrank to $ 2.41 billion. Microsoft shares, on the other hand, were more expensive than ever before, trading 0.7 percent up on Friday at $ 326.8. The market capitalization of $ 2.46 billion was above Apple’s for the first time since mid-2020. The software group had convinced investors with its latest business figures. Microsoft shares have risen more than 45 percent since the beginning of the year, while Apple shares rose 15 percent in the same period.
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US stock market expert Koch: “The resilience of the market is remarkable”
Exxon Mobile: The world’s second largest oil company is benefiting from the rise in oil prices. In the third quarter, the group achieved a net profit of 6.75 billion dollars, more than analysts had expected. In the same period last year he had posted a loss of $ 680 million. Oil and gas prices more than doubled in the past year, which benefited the group. Exxon stocks rose nearly one percent on Wall Street.
Chevron: The US oil company posted its highest quarterly profit in 8 years. Like Exxon, it benefited from oil prices. Chevron posted earnings of $ 2.96 per share for the third quarter. The company’s stock also rose around one percent. Both Chevron and Exxon plan to invest the unexpected gains in share buybacks.
Starbucks: On the other hand, rising new corona infections in China ruined the coffeehouse chain Starbucks’ balance sheet. The shares went down by more than seven percent.
More: The new cold war: the conflict between China and the United States divides East Asia into two power blocs