Wednesday , April 21 2021

The fall was deepened on Wall Street – oil and technology at the bottom



Extensive decline on the New York Stock Exchange held on Friday. The S & P 500 S & P 500 closed down 0.9 percent while the Dow Jones gained 0.8 percent. The Nasdaq 100 fell 1.7 percent.

At night, oil prices continued to fall, with spot Brent prices below $ 70 per barrel and WTI down 1.4 percent to more than $ 59.9 per barrel. US forward prices were supported for the tenth consecutive day, the longest decline since at least 1983 according to the British Financial Times.

That gives an impression in the energy sector where oil services company Baker Hughes was supported by 4.6 percent while fellow sector Schlumberger fell 2 percent. As in Europe earlier in the day, other commodity stocks also fell weakly, including Freeport mining giant McMoran, which fell 4.7 percent.

Some electricity companies were found at the bottom of the S & P 500 after fires in California caused a large power outage. Pacific Gas & Electric fell 16.6 percent, while peer sector Edison International supported 12 percent.

GE ended the day down 5.6 percent after JP Morgan lowered the share price of 10 to 6 dollars in a negative analysis.

The press also came from a large decline in the technology sector, although the decline slightly decreased during the last trading hours. Apple and Amazon fell 1.9 and 2.4 percent respectively. Netflix fell even more, down 4.6 percent. Alphabet dropped 1.4 percent while Facebook fell 1.8 percent.

On the hardware side, Nvidia managed less with a 0.2 percent decline, but Qualcomm's sector partners continued to fall and trade down 2.3 percent. Semiconductor company Skyworks Solutions fell 8.1 percent due to a weak quarterly report.

Gamey Activision Blizzard continue the case after a weak temporary report presented after Thursday's close. Stocks closed down 12.4 percent.


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