Netflix and Tesla are slipping
Dow is losing pace
07/21/2023 10:46 p.m
It’s quite a rare occurrence, after all: the Dow Jones Industrial posts nine straight days of gains. Now he is gradually losing speed – but saves himself with a small plus. The tech-heavy Nasdaq 100 falls again.
After nine trading days with profits in a row is dem Dow Jones Industrial ran out of air on Friday. After all, the leading US index saved a plus of 0.01 percent to 35,227.69 points over the finish line. A profit of good stood for the stock market week two percent to book. The day before, the index had reached its highest level since April last year.
Before the meeting of US Federal Reserve In the coming week, the bar on the US stock market will be 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 one Nasdaq 100 gave up 0.26 percent to 15,425.67 points after. On Thursday, the index was down after disappointing quarterly reports from Netflix and Tesla around more than two percent slipped. After more than 40 percent plus in the index in this stock market year, such short-term sell-offs are not unusual. The market breadth S&P 500 closed on Friday 0.03 percent in plus 4536.34 points.
Shares in companies in the healthcare sector rose significantly. Procter & Gamble put about 1.6 percent to, Johnson&Johnson nearly 1.1 percent. In the case of the individual values, the papers of the toy manufacturer Mattel up to 1.5 percent to, to later to close 0.4 percent in the red. The background is the worldwide theatrical release of the “Barbie” film starring Margot Robbie and Ryan Gosling.
The papers from American Express gifts 3.9 percent after. The credit card company missed analysts’ expectations for quarterly earnings and is sticking to its full-year guidance despite better-than-expected earnings, causing investors to fret.