Frankfurt, New York The record spoiled US stock exchanges ran out of breath at the end of the week. There were long faces among the investors of IBM and Intelwhose share prices were plummeting. The Dow Jones index of standard values closed on Friday 0.6 percent lower at 30,996 points. The broader S&P 500 lost 0.3 percent to 3,841 points. The index of the technology exchange Nasdaq advanced 0.1 percent to 13,543 points. In Europe, too, the stock exchanges went lower.
However, strategists only expected a short-term sag on the stock exchanges. In the past few days, the prospect of further economic aid under the new US President Joe Biden had driven the indices to new highs. “The short-term momentum is likely to continue,” said investment strategist Mark Heppenstall of asset manager Penn Mutual Asset Management. “With a Fed stepping on the gas and a very likely fiscal stimulus in the near future, you feel like there’s still a lot of liquidity going on.”
Nevertheless, the rampant corona pandemic gives investors cause for concern. President Biden had said in a speech from the White House that the number of deaths in the United States would probably exceed the 500,000 mark in the coming month. “That really just goes to show that there are still challenges ahead, and it gives some of the more optimistic investors in the market a reason to pause before buying more stocks,” said market expert Max Gokhman of asset manager Pacific Life Fund Advisor.
Commodity investors were especially nervous about the rising corona infection numbers in China, said Stephen Innes, chief investment strategist at the brokerage firm Axicorp. There is a threat of lower demand from the world’s largest customer. The price of Brent oil from the North Sea fell 1.6 percent to $ 55.20 per barrel (159 liters).
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IBM: The shares of IBM were among the biggest losers. Uncertainty among customers in the corona crisis caused the US computer company to decline in sales in the quarter. Revenues fell in the fourth quarter by 6.5 percent to just under 20.4 billion dollars, as the company announced on Thursday after the US market closed. The shares were listed at times ten percent lower.
Intel: In contrast, Intel had convinced investors on Thursday shortly before the close of trading with its quarterly report. As a result, the share price jumped nine percent to its highest level since June last year. At this level, investors now cashed in on Friday and raked in price gains. In addition, some investors were apparently disappointed by statements from the prospective CEO Pat Gelsinger, who wants to continue to manufacture the majority of Intel chips himself – which some have been critical of the problems with in-house manufacturing technology in the recent past. “You’re sitting out the problem,” said Patrick Moorhead, analyst at Moor Insights & Strategy. The shares fell around nine percent.
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Mytheresa: The Munich online luxury fashion retailer is building on its successful debut from the previous day. Mytheresa shares are up another seven percent after ending their first day of trading on Thursday up 19.23 percent.
PPG: The paint maker PPG Industries announced that sales were down in the fourth quarter. The shares have now lost more than three percent.
Kansas City Southern: The railroad company predicts double-digit sales growth for 2021. The papers then gained 1.3 percent.
Microsoft, Apple and Facebook: Price gains in the heavyweight stocks of Microsoft, Apple and Facebook of up to 1.6 percent limited the losses on the overall market at least somewhat. Here investors are hoping for good news in the current balance sheet season.
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