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NEW YORK (dpa-AFX) – The Dow Jones Industrial takes another step on Friday to its level before the Corona crash. The day after the historic change in the US Federal Reserve’s inflation policy, the Dow Jones Industrial (Dow Jones 30 Industrial) rose again by 0.31 percent to 28,581.11 points. This means that he has a weekly plus of more than two percent. In the course of the year it has recently returned to positive territory.
Unlike recently, the Dow and technology stocks developed in lockstep on Friday. The NASDAQ 100 selection index, shaped by the latter, rose 0.34 percent to 11,967.03 points. But he did not manage to set another record above the 12,000 point mark. The percentage change of the S&P 500 was on Friday with 3494.93 points on par with the Dow. Even the market-wide index did not initially set a new record.
According to the chart experts at Index-Radar, US stocks remain on their uptrend with barely noticeable signs of fatigue. Coronavirus infections are no longer considered to have a slowing effect. “The milder course of Covid-19 diseases and the lower need for treatment have distracted the markets from the Corona issue,” speculates investment strategist Chris-Oliver Schickentanz from Commerzbank.
As previously speculated, the Fed announced on Thursday that the inflation target of two percent should in future be an average target and not a fixed target. In the market, this was seen as a strong sign of an unbroken loose Monetary policy rated – a prospect entirely to the taste of investors, said one Brsian. However, economists consider the monetary policy impact of the swing to be minor, at least in the short term.
The future of the Tiktok video app in the USA remained a central theme on Friday. Walmart and Microsoft have recently become favorites for President’s Donald Trump demanded sale of the US activities by the Chinese app operator Bytedance, which according to a report in the “Wall Street Journal” is supposed to demand around 30 billion US dollars. Walmart picked up on their price jump from the previous day with plus 2.5 percent and a new record, while Microsoft added half a percent.
In the Dow there were otherwise the 2.3 percent higher shares in the beverage manufacturer Coca-Cola, which wants to cut thousands of jobs in the course of a major reorganization of its businesses. In the course of the planned renovation, the Pepsi rival wants to make its organizational structure much leaner.
Among the large US technology groups such as Apple, Alphabet (Alphabet A (ex Google)) and Amazon, which recently set high marks in a row, only Tesla initially continued its record rally on Friday. For the first time, stocks made it above the $ 2,300 mark initially, but then the momentum dried up. Most recently they were barely moved at $ 2,238.
Among the second-tier stocks, a few quarterly reports provided something to talk about. The numbers of the computer companies HP Inc (HP) and Dell (Dell Technologies), whose shares each rose by a little more than six percent, were received positively. At HP there were also statements about the outlook, at Dell the approaching spin-off of the software subsidiary VMWare.
On the Nasdaq, the shares of Workday (Workday A) and Ulta Beauty sat up according to quarterly reports with increases of 14 and 6 percent respectively. Both the cloud software specialist and the cosmetics chain pointed out that the results exceeded expectations./tih/he