Frankfurt Convincing company results helped some of the US stock exchanges to new record highs on Thursday. The Nasdaq and S&P 500 barometers both closed trading higher than ever before. However, fears of inflation weighed on the mood.
The Nasdaq Composite tech index rose 0.5 percent to 15,993 points. The broader S&P 500 advanced 0.3 percent to 4704 points. The Dow Jones index of standard values, however, closed 0.2 percent lower at 35,870 points.
Comments by the US Federal Reserve Banker John Williams, who heads the New York Fed branch, caused nervousness. He said inflation is showing up in more and more areas. At the same time, he spoke of increasing expectations that inflation would pick up in the future. Investors worry about this, commented investment strategist Sam Stovall from analyst firm CFRA Research. The Fed may have to admit that inflation is not just temporary.
Look at individual values
Nvidia: Among the individual values, Nvidia stood out, increasing by 8.2 percent. At the semiconductor specialist Nvidia, the high demand for its chips for data centers and computer games ensured strong growth. In addition, the sales forecast for the current quarter was surprisingly high. The company could hardly do better, wrote the expert Stacy Rasgon from the analyst firm Bernstein Research. The core business for graphics cards for gamers as well as the demand from data centers developed strongly.
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Macy’s: The shares of Macy’s made a jump of a good 21 percent upwards. After heavy losses at the beginning of the corona pandemic, business at the traditional department store chain is running smoothly again. The retailer Kohl’s also knew how to convince investors with its business development and a higher outlook, as the price increase of almost 11 percent showed.
Kohl’s: The paper rose 10.6 percent. This retailer also reported better-than-expected sales and increased its full-year sales forecast. Quarterly earnings were $ 1.65 per share, the consensus estimate was only 64 cents.
Alibaba: The Chinese internet giant Alibaba had missed expectations with its quarterly figures and also lowered its sales forecast for the current financial year due to more competition and corona uncertainties. This was confirmed by the shares listed in New York with a minus of more than eleven percent.
JD.com: The Chinese online retailer and Alibaba competitor JD.com, on the other hand, surprised positively with its net sales. With this, the shares secured second place in the Nasdaq 100, behind Nvidia, with an increase of around six percent.
Cisco Systems: The Dow Jones was dragged down mainly by Cisco. The shares lost 5.5 percent. The US network equipment supplier sees its business being burdened by supply chain problems and the resulting higher costs.
Nvidia: The graphics chip maker beat estimates by six cents with adjusted quarterly earnings of $ 1.17 per share. Sales were also above forecasts. Nvidia is benefiting from the high demand for chips for video games and data centers. The share rose 11.5 percent.
Victoria’s Secret: The underwear brand’s stocks are very popular after rising earnings in the third quarter. The titles gained more than 18 percent and are one of the biggest winners on Wall Street. Victoria’s Secret earned 81 cents per share, ten cents more than analysts expected.
Sweet green: The Sweetgreen lettuce chain celebrated a brilliant debut on the stock market: The first price was 52 US dollars, around 86 percent above the issue price of 28 dollars per share. The shares closed at $ 49.50.
More: Twelve stocks that investors can use to invest in the future.