It was another rollercoaster day on the New York Stock Exchanges on Friday.
The focus was still on the fact that high inflation and high interest rates would threaten economic growth and push the US into a new recession.
- The Nasdaq rose 1.43 percent to 10,798.35 points. During the week, there was a 4.8 percent decrease.
- The Standard & Poor’s 500 Index closed 0.21 percent higher at 3,674.45 points. There was still a drop for the third week in a row, and for the week there was a 5.8 percent drop.
- The Dow Jones index fell 0.13 percent to 29,888.78 points. During the week, there was a 4.8 percent decrease.
13 of the 30 stocks in the Dow rose, with America Express advancing 4.9% and Boeing 2.6%. There was also a rise in sales of Salesforce, Amgen, Apple, Microsoft and Cisco.
On the Nasdaq, the rise of Alphabet, Amazon and Tesla also contributed to the rally. The latter rose 1.7 percent to $650.28. Meta Platforms (Facebook) rose 1.8% to $163.74.
Chevron shares fell 4.7 percent and Exxon Mobil shares fell 5.8 percent, after oil prices plunged 5-6 percent.
The VIX Fear Index fell 5.8 percent to 31.04.
Oil, interest rates, gold and cryptocurrencies
Oil prices fell sharply on Friday afternoon and evening. When the New York Mercantile Exchange closed, the price of Brent oil fell 5.6 percent to $113.12. The price of a barrel of Brent oil reached its lowest level on Friday, at 111.78 dollars. It then fell 10.7 percent from Tuesday’s high of $125.14.
The price of US light oil fell 6.8 percent to $109.56, and this week it fell by 9.2 percent, according to Marketwatch.
The 10-year interest rate rose 3.5 basis points to 3.24 percent. The two-year interest rate was 3.15 per cent.
The price of gold fell 1.1 percent to 1837.24 dollars.
When stock markets closed in New York, bitcoin rose 0.8 percent to $20540.50.
Ethereum shares rose 1.5 percent to $1082.78.
“Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff.”
