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NEW YORK (dpa-AFX) – US Stock Markets USA They rose sharply on Friday after a slow start to recent trading. Even the disappointing prospect of the chip giant Intel fell into the background and was eventually ignored. Overall, the day after this turbulent week was pretty calm, the market said. In addition to news about the Corona crisis, violent turmoil in the oil market had shaped the last few days of trading.
The main Dow Jones Industrial index (Dow Jones 30 Industrial) entered the weekend with an increase of 1.11 percent to 23,775.27 points after barely exceeding the previous day’s close in the first trades. Over the course of the week, however, there is a loss of almost 2 percent. However, the world’s best-known stock market barometer was able to recover in double digits from Corona’s collapse in March in the previous two weeks.
The market-wide S&P 500 advanced 1.39 percent Friday to 2,836.74 points. The NASDAQ 100 rose 1.68 percent to 8786.60 points.
The current economic data from the United States painted a very cloudy picture again, which was not surprising. In March, durable goods orders collapsed as strongly as last month in the summer of 2014. The main reason for this was the massive decline in aircraft orders. Consumer confidence surveyed by the University of Michigan in April, on the other hand, was somewhat better in a second estimate, but the degree of deterioration in mood caused by the virus crisis remains historic.
The scandal over the remdesivir of the Gilead Science (Gilead Sciences) anti-Ebola drug, which is also currently being tested in the treatment of Covid-19 lung disease, did not last long that day. According to the manufacturer, the fact that administration of the drug in China did not lead to noticeable improvement in patients, as reported Thursday, is pointless. The study was ended prematurely due to low participation and therefore has no statistical significance, he said. Gilead’s shares, which had dropped just over 4 percent the previous day, finally rebounded 2.4 percent after further losses initially.
However, the focus remained on the price of oil. The relaxation in the oil market after the historic collapse on Monday had been the clearest reason for gains at the start of trade the day before; Until then, news about Remdesivir abruptly clouded the mood of sellers. The price of the most important American brand WTI has currently stabilized at around $ 17. Oil reserves like ExxonMobil and Chevron reacted with additional moderate gains.
The following annual reports focused on the company side. After a disappointing second-quarter earnings statement, Intel’s share initially gave way. But then she also benefited from growing risk appetite among investors and ended the day with a 0.4 percent plus.
Boeing (Boeing), however, lost 6.4 percent as the tail light on the Dow. According to circles, the affected aviation giant faces deep cuts in production of the 787 Dreamliner. Production should be cut in half, the Bloomberg news agency reported. According to the figures presented, the shares of the credit card provider American Express and those of the telecommunications group Verizon also increased by less than 1 percent each.
At the same time, Facebook shares rose a clear 2.7 percent, while Zoom Video Communications, which had hit a record $ 181.50 at the start of the trade, fell 6.1 percent. In view of the rapid growth of video chats in the crown crisis, Facebook does not want to leave this area to the increase in zoom and counteracts with its own offer.
Beyond Meat’s share certificate, which increased for the seventh consecutive day, continued to be in high demand. There has been a particularly strong upward trend since Tuesday, after the meat substitute maker announced that it wanted to penetrate the Chinese market through cooperation with Starbucks. Overall, the newspaper has increased nearly 40 percent since this announcement, 9 percent on Friday alone.
After a weaker start in the US bond market. In the US, trend-setting 10-year government bonds finally rose 3/32 points to 108 20/32 points, down 0.590 percent. The euro was trading around the $ 1.08 mark in the US trade and was priced at $ 1.0815 at the close of Wall Street. The European Central Bank set the reference price at $ 1,0800 (Thursday: 1.0772). The dollar cost 0.9259 (0.9283) euros./ck/he
— By Claudia Müller, dpa-AFX —
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