View of the trading floor of the New York Stock Exchange.
(Photo: dpa)
Frankfurt, New York The US stock exchanges took a conciliatory course at the end of a turbulent week. The Dow Jones index of standard values closed on Friday 0.5 percent higher to 36,100 points. The technology-heavy Nasdaq advanced one percent to 15,860 points. The broad S&P 500 gained 0.7 percent to 4682 points.
A high rate of inflation had shaken the stock exchanges in the days before. “Inflation drives profits up, but it reaches a point where it harms the consumer,” said David Wagner, portfolio manager at Aptus Capital Advisors. The strong price surge is definitely a risk factor for the stock markets, said portfolio manager Matt Stucky of Northwestern Mutual Wealth Management.
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