NEW YORK (dpa-AFX) – After nine trading days with profits in a row, the Dow Jones Industrial (Dow Jones 30 Industrial) ran out of breath on Friday. After all, the leading US index saved an increase of 0.01 percent to 35,227.69 points across the finish line. A gain of a good two percent was recorded for the stock market week. The day before, the index had reached its highest level since April last year.
So ahead of next week’s meeting of the US Federal Reserve, the bar on the US stock market has been set significantly higher. “If investors recognize that the key interest rate has peaked, they turn more to investing in shares again,” wrote chief investor Thorsten Weinelt from Commerzbank. With inflation significantly lower recently, the need for the Fed to counteract this with several further interest rate hikes is decreasing.
The tech-heavy NASDAQ 100 fell 0.26 percent to 15,425.67 points. On Thursday, the index slipped by more than two percent after disappointing quarterly reports from Netflix and Tesla. After more than 40 percent plus in the index in this stock market year, such short-term sell-offs are not unusual. The market-wide S&P 500 closed on Friday up 0.03 percent at 4536.34 points./bek/he