US equity markets ended a profitable week with a weak trend. Traders justified the decline on Friday with weak quarterly data from some technology companies.
In addition, many investors are worried that the continued decline in oil prices may be a sign of a slowdown in US economic growth, he said. New US economic data have had a minimal impact on prices. Consumer sentiment was less severe than expected in November.
The Dow Jones Industrial (Dow Jones 30 Industrial) fell again below 26,000 points, closing the day at 0.77% to 25,989.30. On a weekly basis, however, the leading US index recorded a respectable increase of around 2.8%. From the minimum intermediate at the end of October, the leading US index has even recovered by almost 8%. The market S & P 500 fell 0.92% to 2781.01 points Friday. The NASDAQ 100 technology index fell 1.67 percent to 7039.15 meters.
The night before, the US Federal Reserve said it would stick to its monetary policy stance and promised further gradual rate hikes. "The concern is that the Fed will continue to raise interest rates," said analyst David Madden of the CMC Markets broker. This has already pushed the mood on European stock exchanges.
In the industry overview, the IT sector was in the back. Sales were triggered by disappointing quarterly Skyworks data. The key figures of the semiconductor company have reported a slowdown in the demand for smartphone chips. This led to some comments from negative analysts with gradations and reductions in price targets. Skyworks shares have lost 8%.
On the contrary, he won the Walt Disney title as a 1.7 percent Dow leader. The entertainment company gained more in the fiscal fourth quarter than analysts expected. In the future, the Hollywood giant wants to focus more on the booming market and attack the highly successful online video services such as Netflix head-on. Therefore, Disney launches its Internet service and relies heavily on the content purchased. Netflix stocks fell 4.6 percent.
The bottom line in the S & P 100 index was General Electric's shares, down 5.7 percent. The US bank JPMorgan (JPMorgan ChaseCo) lowered its price target from 10 to 6 US dollars and left the classification under "underweight". The conglomerate had in the third quarter on almost all fronts even worse than the dreaded cut, wrote analyst Stephen Tusa.
Activision Blizzard's third-quarter revenue decline and disappointing forecasts for the current closing quarter have plunged computer game manufacturers' titles by over 12%.
Cree shares, however, rose by almost 8% after a purchase recommendation from Goldman Sachs investment bank. With the share of light engineering specialists it could put investors on the silicon carbide market, said analyst Brian Lee, a core material for light-emitting diodes.
The euro exchange rate also recorded a slightly lower level in US trade. More recently, the single European currency is trading at $ 1.1233. On Wednesday, the euro was still above the $ 1.14 mark. The European Central Bank (ECB) had set the reference price at $ 1.1346. Ten-year US Treasury bonds with a trend trend rose 14/32 points to 99 points 15/32, with a yield of 3.19% / edh / fba