Börse Express – New York Stocks: Indices weaken at the end of a strong week

NEW YORK (dpa-AFX) – At the end of a strong stock market week, investors realized gains on the US stock exchanges on Friday. Two hours to go, this was mostly in the tech sector like the Nasdaq 100, following a particularly pronounced revival rally
down 2.04 percent to 12,362.15 points. Price drop with the operator of the Snap app
it created a bad mood for internet wrestling there.

US standard stocks, which rose less sharply recently, are now performing slightly better. Dow Jones Industrial but he couldn’t prevent it from falling to the negative side, falling 0.66 percent to 31,824.12 points. Diversified S&P 500 lost 1.22 percent. up to 3950.03 points

All three New York indices recently peaked in six weeks. Although the Nasdaq 100 fell more strongly on Friday, the high tech index is still headed for the best result of the week with a 3.1 percent increase. Dow is now up 1.7 percent for the week.

Investors have received a lot of news from the field of geopolitics and monetary policy in the last few days, as well as from companies that had to be digested – concluded analyst Craig Erlam from the Oanda broker. In view of the high inflation, central banks see the only solution in aggressive monetary policy tightening. While the reporting season has yet to go that far, the tendency was that much of the data was “not as bad as feared”. This brings relief, but is not enough for a lasting recovery.

Stockbrokers find it difficult to fear inflation damage, soaring interest rates and a recession. Unrest was also sustained by disappointing economic data. In the US, sentiment in the services sector took a surprising turn and also deteriorated markedly in July, as shown by the S&P Global Purchasing Managers’ Index. Now we look forward to the US Federal Reserve’s interest rate decision next week.

At the end of the week, investors focused primarily on the operator of the Snap photo application . In the light of the quarterly report and a number of analysts’ assessments, the shares fell by 38%. Snap saw the slowest growth since the company’s debut just over five years ago and increased its quarterly loss. The market talked about “shocking” numbers.

Well-known analyst Douglas Anmuth from JPMorgan was generally skeptical about the internet industry, which is heavily dependent on advertising spend, after Snap data. TikTok has not been explicitly mentioned, but the development of this platform is likely to have a big impact. Therefore, he expects the consensus estimates to decline for many sector stocks. Google and Facebook Alphabet parent company documents and finish
lost 6.3 and 7.6 percent, respectively. Those from Pinterest, Snap’s competitor fell by as much as 13 percent.

Overall, the reporting season for companies was rather negative in the headlines this time. The telecoms turmoil came after AT&T lowered its cash flow forecast the previous day
go on because now also Verizon disappointed with his results. With a 7.8 percent discount. shares fell to their lowest level since 2017. Verizon has revised down its year-long goals.

Memory makers have also suffered heavy losses. Seagate Technology shares fell after disappointed expectations and a poor outlook by nine percent and thus won the titles of competitor of Western Digital down 6.3 percent. Then came the industrial chip supplier Micron with a discount of 3.6 percent

The bright spot at the top of the Dow was American Express with a 2.3 percent increase in prices. The financial services provider, best known for its credit cards, exceeded analyst expectations despite falling earnings and raised its annual sales growth target. / Tih / he

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0280 2022-07-22 / 20: 06

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