Equities New York Close: Late rally delivers strong gains

NEW YORK (dpa-AFX) – The New York stock exchanges made profits again this week after a roller coaster ride. After a weak start, a rally in the final two hours in particular ensured that the Dow Jones Industrial (Dow Jones 30 Industrial) recorded a significant increase of 1.65 percent on Friday. Supported, among other things, by strong numbers from Apple, the leading index closed at 34,725.47 points, close to the daily high. The end result of a fickle week was still clearly positive at 1.3 percent.

The US Federal Reserve’s tightening monetary policy had a firm grip on the stock market this week and continues to unsettle investors. According to experts, however, they are still quite reliable when it comes to resets. After every significant recovery, however, the willingness to cash in quickly increases again. “The volatility and the risks have increased and it will remain so for the time being,” said Commerzbank investment strategist Chris-Oliver Schickentanz on Friday, also because of the Ukraine conflict.

The broad market S&P 500 extended gains 2.43 percent in late trading to close at 4431.85 points. Above all, the technology-heavy Nasdaq stock market still caused a sensation with the NASDAQ 100 ultimately jumping by 3.22 percent to 14,454.61 points. At the last minute, the weekly balance was still just positive./tih/he


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