Frankfurt Despite US inflation as high as it has been in nearly 40 years, Wall Street investors did not allow themselves to be discouraged on Friday. The Dow Jones index of defaults went 0.6 percent higher to 35,970 points from trading. The technology-heavy Nasdaq advanced 0.7 percent to 15,630 points. The broad S&P 500 gained 1.0 percent to 4712 points, marking a new record high.
Investors have “pretty well accepted the fact that the US Federal Reserve will accelerate the pace of curbing bond purchases.” Many experts believe that a decision will be taken at the Fed’s monetary policy meeting on Wednesday to reduce it to speed up bond purchases. “It paves the way for key rate hikes in the second half of 2022,” said economist Bastian Hepperle from Bankhaus Lampe.
The dollar index, which reflects the rate of the greenback against major currencies, fell slightly after the inflation data. This gave the gold price a tailwind, which rose 0.4 percent to $ 1,781 per troy ounce.
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Oil investors are betting that the economy will not suffer as much from the spread of the new virus variant Omikron as initially feared. In anticipation of rising demand, the price of North Sea oil Brent climbed by around one percent to $ 75.36 a barrel. On a weekly basis, it achieved an increase of eight percent – the largest increase since the end of August. “The oil market has rightly priced out the worst-case scenario again, but it would be well advised to leave a certain residual risk for oil demand,” says Commerzbank analyst Carsten Fritsch.
Look at the individual values
Apple: In the US stock market, Apple’s stocks were getting closer and closer to the $ 3 trillion mark in market value. The titles of the electronics supplier climbed to a record high of at times $ 179.63.
Moderna / Biontech: The shares of the mRNA vaccine specialists Moderna and Biontech fell 5.6 and 9.3 percent, respectively. According to stockbrokers, the first study data on a flu vaccine from Moderna clouded the mood among the stocks, which had long been plagued by profit-taking. In the marketplace, it was said that the news led investors to discover that mRNA technology isn’t working wonders everywhere.
Oracle: Oracle bills jumped more than 15 percent. The enterprise software manufacturer raised its profit and revenue forecast for the current quarter because companies are spending more money on technology. Broadcom papers gained around eight percent. The semiconductor company expects sales in the first quarter to have exceeded market participants’ expectations. A US $ 10 billion share buyback program is also planned.
Broadcom: There were also very strong price gains of 8.3 percent in the tech sector for investors in the chip company Broadcom. For the first time, more than 600 dollars were paid for the paper – with good figures, a pleasing outlook and announced share buybacks as a driver. Above all, there was praise for the margin of the semiconductor company.
Tesla: Meanwhile, Tesla shares had to fight for the $ 1,000 mark. First the price fell below this threshold, but then they turned up and closed at 1.3 percent in the profit zone. On the market it was said that the electric car maker would be further influenced on the stock exchange by the fact that CEO Elon Musk parted ways with shares.
Costco: A big winner, however, were the papers from Costco, which rose by 6.6 percent according to the quarterly figures presented. According to Barclays Bank expert Karen Short, the wholesale chain has had another strong quarter. She continues to believe that Costco is better positioned than most other retail companies to thrive in the current difficult industry environment.
Beyond Meat: According to a report from business news agency Bloomberg, restaurant chain Taco Bell has given up plans to try Beyond Meat’s plant-based version of Carne Asada. The share fell 7.5 percent.
C3Ai: The shares of the artificial intelligence software company climb 4.7 percent. The company had received a $ 500 million contract from the US Department of Defense for its AI product line.
American Outdoor Brands: The outdoor products maker reported adjusted quarterly earnings of 58 cents per share, well below the consensus estimate of 76 cents. Sales also fell short of the analysts’ forecasts. American Outdoor stocks fell 11.4 percent.
Peloton: Otherwise there were heavy price losses for the shareholders of Peloton. You must gradually fear for the last price gains since the outbreak of the corona pandemic. On Friday, the home fitness specialist’s papers lost 7.2 percent after being downgraded by the Credit Suisse experts.
AMC Entertainment: The cinema operator’s shares fell 8.5 percent. According to SEC data, CEO Adam Aron had sold 312,500 shares, and Chief Financial Officer Sean Goodman 18,000 papers. Aron had already indicated in November that he would soon start selling shares as part of his estate planning.
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