Despite interim records, the Dow is down around 5.5 percent after the first three months of the new year and the market-wide S&P 500 is down 5 percent. The Nasdaq 100 technology selection index is significantly worse in the race with a good 9 percent minus in 2022. The turnaround in interest rates initiated by the US Federal Reserve prompted many investors to part with their tech darlings. In March, all three indices made a significant recovery after interim lows – also thanks to the recovery of the US economy from the pandemic.
With 431,000 jobs outside of agriculture, fewer jobs were created last month than expected. Analysts had expected an average of 490,000 new jobs. However, the increase in employment in the two previous months was revised upwards by a total of 95,000 jobs. Helaba’s experts believe that the labor market in the USA is in good shape.
Among individual stocks, Gamestop stocks surged more than 15 percent in premarket trading. The retail chain for computer games is planning a share split to make the share, which currently costs around 190 US dollars, more tradable again and thus more interesting for small investors. The year so far has been characterized by strong fluctuations: After the papers had almost halved by mid-March, they climbed back up a third over the course of the week.
In the hardware sector, the experts at Bank JPMorgan are relying on the investments of the telecom and cloud groups in a current study in the more difficult economic environment. They should prove particularly resilient when the economy slows. Therefore, the expert Samik Chatterjee put the papers of the outfitters Ciena and Arista on the “Analyst Focus List” of the investment bank. Meanwhile, he removed Apple and Qualcomm from the shortlist.
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According to Chatterjee, increasing consumer restraint will be reflected above all in the lower demand for TV sets, PCs, smartphones and cars. However, both Apple and Qualcomm are in a better position than many of their competitors, he justified his continued positive rating with “Overweight”.