empty
 
 
25.01.2021 11:45 AM
Dow Jones and S&P 500 Indexes Down 0.3-0.6%, Nasdaq Breaks Record

This image is no longer relevant

Shares of major tech companies have risen significantly in the past week. Apple Inc. grew by 9.4%, Facebook Inc. by 9.2%. Microsoft's market value increased 6.3%. This week analysts are awaiting the publication of the financial statements of these companies for the past quarter.

Also, at the moment, there is still a debate between investors about the appropriateness of the introduction of new stimulus measures in the United States.

An increasing number of Republicans are questioning the need for a new stimulus package. Meanwhile, Democratic Senator Joe Manchin said he could vote against increasing direct payments to US residents from $ 600 to $ 2,000 as part of the latest stimulus package.

Meanwhile, the US Senate Finance Committee on Friday unanimously supported the candidacy of the former head of the US Federal Reserve System (FRS) Janet Yellen for the post of the country's finance minister.

According to preliminary data released on Friday, the purchasing managers' index (PMI) in the US industrial sector, calculated by IHS Markit, reached a record 59.1 points in January, up from 58.3 points a month earlier. This came as a surprise to analysts, who on average predicted a decline to 56.5 points.

The Dow Jones Industrial Average dropped 179.03 points (0.57%) to 30996.98 points.

Standard & Poor's 500 dropped by 11.6 points (0.3%) - to 3841.47 points.

The Nasdaq Composite added 12.15 points (0.09%) to 13543.06 points.

Intel Corp. fell in price on Friday by 9.3%. One of the world's leading manufacturers of computer components in the fourth quarter reduced its net profit by 15%, the company's revenues decreased by 1%.

International Business Machines Corp. fell 9.9%. The company reported a decline in profits and revenues for both the fourth quarter and the whole of 2020, but said it expects to increase revenue this year.

The market value of the cruise operator Carnival Corp. decreased by 2.5%. The company on Friday announced an extension of the cancellation of cruises from the US until April 30, as well as the suspension of operations in Australia until May 19.

Schlumberger Ltd gained 0.9%. The oilfield services company in the fourth quarter of 2020 generated profit and revenue above market expectations.

Walt Disney Co. also rose 0.9%. Analysts at UBS have significantly raised the forecasted value of Disney shares - to $ 200 from $ 155, the bank said.

Thomas Frank,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback