Doe fell while working on Tech on Cove’s fears

Text size

Technology shares appeared on Friday

Dow Jones Industrial Average
With the recent increase in Covidy-19 cases, bond production has fallen.

Down 269 points or 0.8%, the index closed at 35,870 after slipping 60 points on Thursday. Of

S&P 500
Index fell 0.1% after closing on Thursday. The technology – heavy

Nasdaq Composition,
Meanwhile, 0.4% higher and closed at new heights. Nasdaq has surpassed the Dow on Friday, the biggest percentage point since September 30.

For the week, Nasdaq gained 1.2%, investors do not want to miss the “momentum” in tech stocks. The S&P 500 is up 0.3% in the same period, and the Dow is up 1.4 percent.

“We are beginning to feel more and more anxious about the response to Covd in Europe,” said David Donabedian, chief investment officer of CIBC Private Assets, US. [reaction] before.”

10-year Treasury output fell 1.61% from Thursday to 1.54%. This is a one-day drop, with a peak of less than 1.7% in the second half of 2021, hitting the end of October.

This is good for the technology business. Low bond yields make future profits even more valuable – and fast-growing companies in the sector expect many years down the line from their profits.

Finally, market participants came to safety on Friday. The decline in production means that investors buy bonds and send higher prices. This comes as new CV-19 cases appear in Europe, prompting Austria to announce locks starting next week.

Meanwhile, vaccine advances are moving in the right direction. Food and Drug Administration authorizes emergency use

Modrena (Signal termin MRNA) and

Pfizer PFE for vaccines 18 years of age or older.

The stock market was not exactly in a panic on Friday. According to FactSet, only a few of the S&P 500 shares were in the red. Most stocks did not succeed as well.

“Nothing has really come down,” said Larry Adam, chief investment officer of Raymond James. “For labor and b [Covid] Title: People say the market is growing.

“Consolidation” means a slow or short-term decline before the stock market heats up again.

Fuel prices have also dropped. WTI crude oil fell 3.7 percent to $ 76.11. It is 10% lower than the $ 84 per barrel in 2021.

Oil reserves also slipped. Of

Energy Sector SPDR
The XLE is down 3.9 percent. Since its peak in 2021, it has fallen more than 7 percent since the end of October.

Overseas, Hong Kong

Hang Seng
Index decreased by 1.1%, inferior to other boards in Asia

Alibaba (Ticker Category BABA and 9988.HK) China’s e-commerce has slowed down following a quarterly result. Pan-European

Stoxx 600
Decreased by 0.3 percent.

These five stocks were active on Friday.:

Intuit (INTU) Shares traded $ 1.8 billion more than expected $ 2 billion, 97 cents aa share, 97 cents a share, beat estimates, after gaining $ 1.53 profit reported shares gained 10.1%.

Williams-Sonoma WSM shares fell 1.5% after hitting $ 3.32 billion, hitting $ 2.56 per share, up $ 2.1 billion, up $ 1.8 billion.

Foot lock (FL) The stock has lost 12 percent, even after reporting a $ 1.93 profit.

Nevia (NVDA), there were no tears this week — increased by about 8% in the last five days — rebounded by 4.1 percent.

Workday WDAY posted more than expected by 4.2% by the end of Thursday.

Write to James Sonson at jacob.sonenshine@barrons.com