The New York Stock Exchange on Wall Street
The New York Stock Exchange is located on the famous street.
The US stock exchanges saved themselves into the weekend with a small plus.
The Dow Jones index of standard values went 0.1 percent higher to 31,458 points on Friday.
The technology-heavy Nasdaq advanced 0.5 percent to 14,095 points.
The broad S&P 500 gained 0.5 percent to 3934 points.
Heavy-weight standard stocks such as Apple, Tesla and Amazon turned positive after a weak start in late trading. “Low interest rates, economic stimulus and improvements on the virus front give investors more confidence to stay on the ball and buy more,” said market expert Rick Meckler of asset manager Cherry Lane Investments.
The stock exchanges were recently driven by falling corona infection numbers. However, many analysts warned of short-term setbacks amid the risks posed by new coronavirus variants and the potential impact on vaccine distribution.
The US stock exchanges will remain closed on Monday for the birthday of George Washington, the first President of the United States. “
The markets have grown tremendously,” said Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh.
The long weekend should ensure volatile trading and there is simply less interest in buying stocks.
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Largely positive earnings reports should ensure that the price losses are not too significant. 355 companies from the S&P 500 index have released figures, of which 82 percent have exceeded analysts’ estimates for fourth-quarter earnings. This is above the rate in the previous quarters, which, according to data from the provider Refinitiv, was 76 percent.
However, the recent Reddit rally in cannabis values appears to be over. Stocks in companies like Tilray and Sundial fell for the second straight day, down nearly 13 percent. In the previous days, users of the “Wall Street Bets” investor forum on the Internet platform Reddit had drummed for the purchase of cannabis stocks.
The herd mentality reminded analysts of the Gamestop case.
The shares of the US video game retailer had also risen sharply in the past few weeks and then crashed suddenly.
The re was bad news on the economic side.
The Michigan Sentiment, arguably the most important consumer survey in the USA, stands at 76.2 points this month after 79.9 in January.
The consensus estimate was 80.8.
The mood among US consumers has fallen unexpectedly again and the pre-crisis levels of between 90 and 100 points are a long way off,” said the analysts at Landesbank Helaba.
The difficult situation on the US labor market is responsible for this.
The re is still a shortage of around ten million jobs compared to before the crisis.
Individual values in focus
Bumble: On Wall Street, Bumble’s price continued to rise the day after it debuted.
The shares of the provider of the dating apps Bumble and Badoo climbed more than seven percent. On Thursday they had closed 63.5 percent above their issue price.
Walt Disney: Despite encouraging quarterly results, investors made money at Walt Disney.
The entertainment company’s shares fell after a jump to a record high of 1.7 percent.
The success of the streaming channel Disney + has surprisingly kept the company in profitability despite closed amusement parks and canceled cruises.
Paypal: Paypal’s papers rose, the plus was almost five percent. Several brokerage houses had raised their price targets for the stock one day after the payment company’s investor day.
More: Fund managers are making increasing use of these small caps