Dow Jones closes in the red
Investors are looking for orientation
02/28/2023, 10:15 p.m
At the beginning of the year, prices are skyrocketing. But February missed the stockbrokers a reality check. Many titles are going down again. The big loser is the cruise company Norwegian Cruise.
Investors on Wall Street have gone looking for direction. Interest rate fears slowed the latest bargain hunt after the heavy losses of the previous week. The Dow Jones Index of the standard values was 0.71 percent lower at 32,654.98 points. The broader one S&P and the Index of the Technology Exchange Nasdaq however, gained 0.2 and 0.4 percent to 3969.69 and 11,455.54 points.
“After a strong start to the year, February was a reality check for the stock market,” said Konstantin Oldenburger, market analyst at broker CMC Markets. “The US Federal Reserve is expected to end interest rate hikes by October at around 5.5 percent,” explained Matthias Scheiber from asset manager Allspring. At the beginning of the year, the markets saw the top interest rate at five percent.
The US variety STI and the North Sea variety Brent rose 2.3 and 1.8 percent to $77.43 and $83.95 per barrel (159 liters) respectively. The background to this is hopes for an imminent recovery in demand in China.
Meta relies on AI
In the case of individual values, the shares slipped by Norwegian Cruise down more than 10.64 percent after a disappointing outlook. In their wake, more cruise papers were lost Caribbean Cruises and Carnival 1.92 and 2.03 percent, respectively. Increased fuel and personnel costs are causing problems for Norwegian Cruise.
In return, won the titles of zoom after an encouraging earnings forecast 1.18 percent. In addition, the video service provider announced that it would rely more on artificial intelligence. Also with the Facebook mother Meta investors jumped after an announcement of a new artificial intelligence (AI) strategy. The securities rose by 3.19 percent at times and were among the biggest winners on the New York technology exchange Nasdaq. In the long term, Meta wants to focus on the development of AI personalities that could help users in many ways, Meta boss Mark Zuckerberg wrote on Instagram.
A surprisingly high profit in the fourth quarter meanwhile boosted the shares of Target by 0.98 percent. For the most recent quarter, the retailer reported earnings of $1.89 per share versus an analyst forecast of $1.40. The discounter was able to benefit from bargain hunters in the Christmas business.