Equities New York: Dow slightly up – US stock exchanges stable at a higher level

NEW YORK (dpa-AFX) – Most of the US stock exchanges rose slightly on Friday. However, investors remain cautious after the recent rally, which has stalled since late last week. Statements from members of the US Federal Reserve in particular have dampened the mood recently.

The Dow Jones Industrial (Dow Jones 30 Industrial) rose 0.33 percent to 33,654.35 points about two hours before the market close, which would result in a weekly minus of 0.3 percent. In the course of the four-week rally, the best-known Wall Street index had previously jumped by almost 20 percent.

The S&P 500 was last on Friday percentage-wise unchanged at 3946.49 points. On the technology-heavy Nasdaq stock exchange, the NASDAQ 100 selection index fell by 0.51 percent to 11,617.66 points after a friendly start. On a weekly basis, this would result in a minus of around one and a half percent. The rally had given it a plus of 15 percent at its peak since the low in mid-October.

Wall Street and the Nasdaq stock exchanges were particularly boosted by the easing inflationary pressures in the USA in the past week. There was hope that the Fed might soon be less aggressive in tightening interest rates. In the meantime, however, more and more Fed members have spoken out whose comments contradict such expectations. China’s handling of the corona pandemic remains another important topic for the direction of the stock exchanges.

Among the individual values, the chip industry equipment supplier Applied Materials was in view with a surprisingly optimistic outlook for the final quarter. However, the gains on the stock crumbled to 0.4 percent in the course of trading. Easing supply chain bottlenecks benefit the company. Numerous analysts raised profit expectations and price targets.

The credit card provider Visa announced that Ryan McInerney will take over as CEO from Alfred Kelly as of February. McInerney has been responsible for Visa’s global business since 2013 and says the company has 20 years of experience in the financial industry. The stock hardly reacts. She fell by 0.2 percent.

Coinbase (Coinbase) suffered from negative analyst comment from Bank of America, falling 7.5 percent. Analyst Jason Kupferberg is more cautious on Coinbase’s shares given the impact of the collapse of the crypto exchange FTX and downgraded them to “neutral”. FTX’s bankruptcy is also creating headwinds for Coinbase, so additional caution is warranted, he wrote.

HP Inc (HP) lost 0.5 percent after Credit Suisse downgraded the PC and printer maker’s stocks to “Neutral.”

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