Friday 19th November 2021
Record rally of tech stocks
Corona worries weigh on the Dow Jones
Wall Street finishes the week inconsistently. While the Nasdaq has now climbed record highs, the leading index wobbles strongly – and ultimately closes in the red.
The fear of new lockdowns has also clouded the mood on the US stock exchanges. The Dow Jones index of standard values lost 0.7 percent on Friday to 35,601 points. The broader S&P was 0.1 percent lighter at 4697 meters. Technology stocks, on the other hand, benefited. The index of the technology exchange Nasdaq achieved a plus of 0.4 percent and marked a record high with 16,057 digits.
“It is a normal time to reduce risk now,” said Jay Hatfield, chief of Infrastructure Capital Management in New York. “In this case, there is so much money on the market that it doesn’t go far down – safe havens benefit. At the moment, everything revolves around Covid-19.” Tom Mantione, an expert at UBS Private Wealth Management, referred to the lockdown in Austria. “If Germany decides on a comprehensive lockdown, it would once again have an impact on the supply chain.”
At the same time, market participants worried that the US Federal Reserve might take more action against rising inflation. Accordingly, it went down for bank stocks: A corresponding index lost 1.7 percent, following the decline in yields on the bond market, which was again in greater demand as a safe haven. But airlines and other travel items were also on the sales list: the papers of the airlines Delta, United and American Airlines lost up to 2.9 percent, the shares of the cruise operator Carnival and Norwegian Cruise Line yielded up to 2.4 percent.
The decline of the Oil price weighed on the stocks of multinationals, in the Dow the papers belonged to Chevron with a minus of 2.3 percent among the biggest losers. The important raw material was 3.6 percent cheaper. The shares of Amazon, which grew by up to 0.3 percent – the online retailer is considered a pandemic winner.
the Facebook– Papers (meta) shot up two percent. the Apple stocks gained 1.6 percent and marked a record high. Investors assume that the iPhone manufacturer will meet with high demand on “Black Friday” next week. The chip manufacturer’s shares Nvidia benefited from the quarterly figures (plus four percent). In Frankfurt, the Dax was 0.4 percent weaker at 16,159 points from trading.