new York The US stock exchanges closed inconsistently at the end of the week. The Coronavirus epidemic once again weighed on the mood on Wall Street on Friday. However, prices in late trading rose, according to a CNBC broadcaster report, that the US government could use tax incentives to try to get more Americans to buy stocks.
The courses were also supported by a positive outlook from chip manufacturer Nvidia. Experts said that investors were calm: “This seems to be a Teflon market where everything negative – whether the corona virus or whatever – is shaken off,” said managing director Michael James of Wedbush Securities.
The leading index Dow Jones lost almost 0.1 percent to 29,398 points. The technology-heavy Nasdaq, on the other hand, was 0.2 percent higher at 9731 points. The broader S&P 500 also closed 0.2 percent up at 3380 points.
On a weekly basis, the S&P 500 grew by around 1.6 percent, the Dow one percent and the Nasdaq 2.2 percent. In Europe, the Dax with 13,744 points and the EuroStoxx50 had actually been on the spot.
Economic data from the USA was mixed: retail sales rose by 0.3 percent in January. “Real wage increases and increased net assets continue to make the consumer perspective seem friendly,” said the analysts at Landesbank Helaba. In their opinion, the US Federal Reserve should continue to hold back interest rate cuts based on these figures. By contrast, the US industry got off to a weak start to the year. It manufactured 0.1 percent less than in the previous month, the Fed said.
Meanwhile, US consumer sentiment surprisingly brightened in February. The barometer for consumer confidence rose to 100.9 points from 99.8 points in January, according to the University of Michigan, based on preliminary data. Economists surveyed by Reuters had expected a drop to 99.5 points. Consumers rated their current situation somewhat worse and at the same time looked more optimistically.
Private consumption is the pillar of the US economy. It contributes around 70 percent of economic output.
Look at the individual values
At the top of the Dow, Visa stocks followed their recent record run and rose a good 1 percent. In the meantime, the papers of the credit card provider had reached a record high. At the bottom of the list were the shares of the original computer rock IBM with a minus of more than two percent.
Stung too Nvidia with an increase of seven percent. The chipmaker had achieved 41 percent higher sales the previous evening, more than expected by experts. This raised hope that the chip industry would regain strength. Intel stocks were also up against the trend.
The papers from the travel portal operator Expedia, on the other hand, made a leap forward. With gains of around 11 percent, investors showed their enthusiasm for the company’s outlook for strong earnings growth in 2020. This put the shares at the top of the Nasdaq 100. In the wake of this, the shares of the competitor Booking Holdings rose by 1.6 percent.
Among the other individual stocks, the shares of the rating portal Yelp fell after weak results in the fourth quarter by 3.5 percent, after they had even fallen by more than 10 percent in the meantime. The experts from Barclays and RBC had been critical of the papers.
The euro exchange rate continued to be at its lowest level in three years and recently stood at $ 1.0837. The European Central Bank had set the reference rate at $ 1.0842 (Thursday: 1.0867). The dollar thus cost 0.9223 (0.9202) euros. On the bond market, trend-setting ten-year papers gained 9/32 points to 99 6/32 points. They paid 1.59 percent.
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