Netflix are recovering
Bargain hunters are hitting Wall Street
01/31/2022 11:04 p.m
At the end of the month, prices on Wall Street pick up. Technology stocks in particular are the focus of bargain hunters. Netflix and Spotify could also benefit.
The hunt for supposed bargains continued to drive prices on Wall Street towards the end of the month. As on Friday, the technology stocks, which are considered to be particularly susceptible to fluctuations and sensitive to the economy, rose significantly at the beginning of the week.
The technology-heavy selection index Nasdaq 100 jumped 3.29 percent to 14,930.05 points. The index covering the broad market S&P 500 rose by 1.89 percent to 4515.55 points. For the leading index Dow Jones Industrial it was about 1.17 points to 35 131.86 points. On a monthly basis, however, there is a minus of 3.32 percent.
In keeping with the positive picture, the business climate in the Chicago area surprisingly brightened in January. “The overall picture for US manufacturing is still favorable, but the sector is nonetheless vulnerable to disruption from the omicron wave of the coronavirus,” wrote Ian Shepherdson, chief economist at Pantheon Macroeconomics.
The situation on the US technology exchange remains tense, said capital market strategist Jürgen Molnar from the trading house Robomarkets. “The focus of investors in the coming weeks should continue to be inflation.” The pace of the US Federal Reserve’s monetary policy change depends on it.
At the top of the Dow, shares of Boeing by around five percent. Qatar Airways and the aircraft manufacturer had signed a contract for the purchase of up to 102 machines. Otherwise, individual shares were strongly moved by analyst studies. So the shares jumped off Beyond Meat by a good 15 percent. They benefited from a positive comment from the major British bank Barclays.
The bank Citigroup looked at the shares of Netflix and Spotify Entry points after the recent price slumps and recommended buying both. In contrast to most companies that have subscription-based business models, the papers of the streaming provider and the audio streaming service are already cheap. Netflix also has pricing power and Spotify can increase its profits through advertising.
The shares of Netflix drew below the best values in the S&P 500 by more than 11 percent and Spotify’s climbed by 13.5 percent. The euro remained on course for recovery. Most recently, the common currency cost 1.1234 US dollars. The European Central Bank set the reference rate at 1.1156 (Friday: 1.1138) dollars. The dollar thus cost 0.8963 (0.8978) euros.