Closing bell: Big Tech continues on record course – Austria lockdown weighs on default values
A mixed picture emerges at the end of the week on Wall Street. On the US technology exchange Nasdaq, both the most important indices and the heavily weighted individual stocks Alphabet, Apple and Microsoft set new records in the course of trading. The Dow Jones Industrial, however, suffered from concerns that the pandemic would worsen after Austria pulled the emergency brake in the face of the massive fourth corona wave and will go into lockdown again from Monday.
The Dow widened its recent losses significantly, up 0.75 percent to 35,601.98 points. On a weekly basis, the result is a minus of 1.38 percent. The market-wide S&P 500 fell 0.14 to 4,697.96 points on Friday. But the Nasdaq 100 gained 0.55 percent to 16,573.34 points.
The Boeing stock is the worst value in the Dow Jones on Friday. A US congressional committee will investigate possible regulatory failures because of ongoing problems with Boeing’s 787 “Dreamliner” long-haul jet.
There is also a further downward trend for the payment service provider PayPal. Towards the end of the week, the stock broke the support at $ 200, generating a strong sell signal.
Tesla, on the other hand, has generated new buy signals. The stock beat the next, up 3.7 percent to $ 1.137. Wedbush analysts contributed to the good performance.
The other EV stocks also had green signs. Lucid Motors rose 17.3 percent and Rivian rose 4.2 percent. The latter gave up a large part of the daily profits when, according to The Information, reported false information in the IPO prospectus.
According to a Morgan Stanley study, the fuel cell manufacturer Plug Power gained 10.2 percent and thus allayed worries about an extensive correction.
Moderna (+4.9 percent) and BioNTech (+5.7 percent) are also growing strongly. The FDA on Friday recommended booster vaccinations with the vaccines from Moderna and BioNTech / Pfizer for all adults. At the top of the tech values, however, was Intuit with a plus of ten percent. The US investment bank Goldman Sachs had previously issued a buy recommendation for the share.