Stocks in New York entered the weekend gaining Friday. The indices benefited from strong data on, among other things, the industry and the housing market. Big tech companies were among the winners, waiting for the quarterly numbers to be announced next week.
Intel lost more than 5 percent. The chip company raised its full-year revenue forecast due to strong demand for semiconductors, but investors were counting on more. Intel also warned of pressure on profitability due to supply problems leading to higher purchasing costs.
The Dow Jones index closed up 0.7 percent at 33,043.49 points, supported by price gains from Apple and Goldman Sachs, for example. The Standard & Poor’s 500 rose 1.1 percent to 4,180.17 points. Funds and technology companies were also broad rosettes. The technology Nasdaq index rose 1.4 percent to 14,016.81 points.
On Thursday, stock markets in New York fell further due to reports of a possible tax increase on investment profits in the United States.
Mattel’s rebound (plus 0.8 percent) after better-than-expected numbers was short-lived. The stock rose as much as 12 per cent shortly after the opening bubble, after the toy maker posted another record sales in the first quarter. The sales growth was mainly driven by strong sales of Barbie dolls. Industry fellow Hasbro, known from Monopoly, Transformers and My Little Pony, also saw his former profit evaporate and he lost 1.4 percent.
Credit card company American Express lost nearly 2 percent after the numbers. Kimberly Clark, producer of Kleenex and Huggies, for example, gave disappointing results and was cut by just 6 percent. Snapchat, the parent company of the popular Snapchat app, won 7.5 percent, thanks to the growth in the number of users.
Cryptocurrency and blockchain technology companies have come under pressure after a significant drop in the value of Bitcoin and Ether due to potential tax increases in the United States. For example, Riot Blockchain and Marathon Digital lost up to 5.5 percent.
The euro was at $ 1.2097, up from 1.2060 earlier in the day. The price of a barrel of US oil is now 1.2 percent, at $ 62.14. Brent oil price increased 1.1 percent to $ 66.10 a barrel.
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