New York Stocks: Tech stocks record rally continues – Dow continues to decline

NEW YORK (dpa-AFX) – The record hunt on the US technology exchange Nasdaq entered a new round on Friday. The most important industry indices NASDAQ 100 and Nasdaq Composite (NASDAQ Composite Index) as well as the heavily weighted individual values ​​Alphabet (Alphabet A (ex Google)), Apple and Microsoft reached highs.

However, the standard values ​​on Wall Street gave way for the most part. They suffered from concerns that the pandemic would worsen further after Austria pulled the emergency brake in view of the massive fourth corona wave and will go into lockdown again from Monday.

The Dow Jones Industrial (Dow Jones 30 Industrial) expanded its most recent losses on Friday and fell 0.79 percent to 35,585.94 points. On a weekly basis, there is a minus of more than 1 percent. The market-wide S&P 500 went down 0.13 to 4698.25 points on Friday.

The Nasdaq 100 rose 0.44 percent to 16 555.63 points. The Nasdaq Composite was up 0.34 percent.

The tech values ​​are currently being driven by some good company news as well as by the continued favorable environment. The US Federal Reserve wants to take its time with an interest rate hike, which many economists believe is the sharpest sword for fighting inflation. Low interest rates make it easier for the generally very growth-oriented companies in the industry to get financing.

Among the biggest winners on the Nasdaq 100, the shares of Moderna rose by a good six percent. The US Food and Drug Administration (FDA) had approved corona booster vaccines with the company’s vaccine.

At the top of the index, Intuit’s stocks soared 9.6 percent. The US investment bank Goldman Sachs had previously issued a buy recommendation for the shares. The software company was a few years ago with growth in the high ten percent range, wrote analyst Kash Rangan.

Applied Materials shares lost more than four percent. Analysts were disappointed with the business development of the semiconductor company in the past quarter and the outlook for the current quarter.

At the end of the Dow, Boeing’s shares fell 5.6 percent. The aircraft manufacturer suffered from fears that travel would be restricted again. A report in the “Wall Street Journal” about another slowdown in production of the 787 Dreamliner played into the hands of the gloomy mood. / La / he


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