Frankfurt Fear of new lockdowns shaped trading on the US stock exchanges on Friday. Investors got their money safe and parted with the stocks, which got under the wheels in the first Corona waves. That brought the index of the technology exchange Nasdaq a record high: The barometer closed on Friday for the first time above the mark of 16,000 points.
Technology stocks have been high on investors’ buy lists – and are especially bought when interest rates are low. The Nasdaq index closed trading at 16,057 points, 0.4 percent firmer than on Thursday. On a weekly basis, it gained 1.24 percent. The Dow Jones index of the standard values, however, lost 0.8 percent to 35,602 points. The broader S&P was trading 0.1 percent lower at 4698 meters.
“It is a normal time to reduce risk now,” said Jay Hatfield, chief of Infrastructure Capital Management in New York. “In this case there is so much money on the market that it doesn’t go far down – safe havens benefit. At the moment everything revolves around Covid-19. ”Tom Mantione, an expert at UBS Private Wealth Management, referred to the lockdown in Austria. “If Germany decides on an extensive lockdown, it would once again have an impact on the supply chain.”
At the same time, market participants worried that the US Federal Reserve (Fed) might take more action against rising inflation. Accordingly, it went down for bank stocks: A corresponding index fell, following the decline in yields on the bond market, which was again in greater demand as a safe haven. Airlines and travel stats were also on the sales list. The shares of the airlines Delta, United and American Airlines lost up to 2.8 percent, the shares of the cruise companies Carniveal and Norwegian Cruise Line lost up to 2.2 percent.
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The decline in the price of oil weighed on the shares of multinationals, in the Dow, Chevron was among the biggest losers, down 2.2 percent. The important raw material was 3.7 percent cheaper. Things went up for Facebook, which gained two percent.
Look at further individual values
Apple: Apple shares rose 1.7 percent and hit a record high. Investors assume that the iPhone manufacturer will meet with high demand on “Black Friday” next week.
Nvidia: The shares of the chip manufacturer Nvidia profited from the quarterly figures and closed 4.1 percent in the plus.
Moderna: Among the biggest winners on the Nasdaq 100, the shares of Moderna rose by around five percent. The U.S. Food and Drug Administration (FDA) had approved corona booster vaccinations containing the company’s vaccine.
Boeing: At the end of the Dow, Boeing’s shares fell 5.8 percent. The aircraft manufacturer suffered from fears that travel would be restricted again. A report in the “Wall Street Journal” about another slowdown in production of the 787 Dreamliner played into the hands of the gloomy mood. The “Dreamliner”, which was launched around ten years ago as the long-haul jet of the future, has been a problem for the group for a long time. This year Boeing had to temporarily stop deliveries due to various production problems and reduce the production rate.
Intuit: At the top of the index, Intuit’s papers shot up a good ten percent. The US investment bank Goldman Sachs had previously issued a buy recommendation for the shares. The software company was a few years ago with growth in the high ten percent range, wrote analyst Kash Rangan.
Foot Locker: The shares slipped 13.4 percent. The sports shoe and clothing retailer expects continued bottlenecks in the global supply chain in the current quarter. The positive result in the past quarter, in which sales were higher than most analysts had expected, did not help either.
Applied Materials: The enterprise was a penny below estimates with adjusted quarterly earnings of $ 1.94 per share. Sales of the semiconductor equipment manufacturer were also below expectations. Applied Materials also gave a weaker than expected outlook for the current quarter in view of delivery bottlenecks for certain components. The share fell by five and a half percent.
Williams-Sonoma: The company reported adjusted quarterly earnings of $ 3.32 per share, beating the consensus estimate of $ 3.14. The homeware retailer saw unexpectedly high sales and raised its guidance for the full year, citing a sharp rise in e-commerce and the strength of its brands. However, there were unexpectedly high sales, administration and overhead costs. Because of this, the share fell 2.6 percent.
More: Twelve stocks that investors can use to invest in the future.