The US stock exchanges presented a mixed performance on Friday. By the time trading closed in New York, the Dow stood at 51,286 points, marking a decline of 0.5% compared to the previous day. However, just minutes earlier, the broader S&P 500 was up 0.3%, sitting around 7,377 points, while the technology-focused Nasdaq 100 was stronger, registering a 1.4% gain at approximately 26,990 points.
While many sectors struggled over the past months under the pressure of increasingly high interest rates, some companies benefiting heavily from the expansion of AI infrastructure have seen their share prices rise. Nevertheless, the results of the US mid-term elections now pose the threat of stricter regulation toward so-called “Artificial Intelligence” and data centers, leading investors to monitor AI companies more critically.
Heightening concerns were further fueled by continued interest rate issues. US government data indicates that the labor market remains more robust than anticipated, which suggests that the Federal Reserve Central Bank might have little reason to resist keeping the benchmark interest rate at a higher level longer to combat persistent inflation.
Turning to global finance, the European common currency weakened on Friday evening; the Euro traded at $1.1143, meaning the dollar was available for 0.8974 Euros. Meanwhile, the gold price retreated, costing $4,067 for a fine ounce in the evening, representing a 0.5% drop. This equates to a price of 117.35 Euros per gram. Oil prices also eased; the Northeast Brent crude barrel cost $97.98 around 10 PM German time, a decrease of 0.3% from the end of the previous trading day.
