The technology stock market stabilized on Friday despite positive quarterly reports from Amazon and Intel

The technology stock market stabilized on Friday despite positive quarterly reports from Amazon and Intel

According to a report by www.boerse.de The technology exchange Nasdaq did not fully recover on Friday despite positive quarterly reports from Amazon and Intel. The profits crumbled, especially in later trading. Investors' concerns before the weekend lie in the termination of the ceasefire by the Israeli army and the upcoming US key interest rate decision. The Dow Jones Industrial ultimately fell by 1.12 percent and the S&P 500 fell by 0.48 percent. The Nasdaq 100, however, recovered by 0.50 percent.

Amazon beat expectations for the third quarter and made positive statements about its cloud computing business. The stock recovered and was one of the most sought-after stocks in the Nasdaq selection index. In total, the “Magnificent 7” companies, including Alphabet, Meta, Microsoft, Tesla and Amazon, have presented their quarterly reports.
Based on the current US economic data, Deutsche Bank expects a break in interest rates at the Fed meeting in the new stock market week. Hargreaves Lansdown equity analyst Sophie Lund-Yates, on the other hand, speaks of overheated economic data, which could mean higher interest rates have a negative impact on technology companies.
In terms of individual stocks, Amazon and Intel also performed well, while Chevron and Ford disappointed. The return on the bond market fell to 4.84 percent.
Due to the Gaza conflict and the upcoming US key interest rate decision, there are uncertainties in the market that could continue to have an impact on the US technology sector. It remains to be seen how the situation develops and whether market participants continue to react to positive quarterly reports and profit prospects.