Dow & Co closed with a slight premium

Wall Street has taken the first major setback of the current reporting season well. Despite weak quarterly figures from the two technology groups Apple and Amazon, Dow & Co closed with a slight premium. After initial releases, there was a recovery over time. "I think investors are calm about Apple and Amazon's results because they saw some general strength in the market during the reporting season," said Keith Lerner, co-chief investment officer, Truist Advisory Services. "You see this quarter that US companies are showing how adaptable they are." The Dow Jones index improved 0.2 percent to 35,820 points. The S&P 500 climbed 0.2 percent and the Nasdaq Composite closed at a premium of 0.3 percent. The 1625 (Thursday: 2316) price winners were compared to 1704 (1014) losers. 118 (128) titles closed unchanged. On the eve after the end of trading, Amazon reported an unexpectedly strong drop in profits and only gave a rather bleak outlook on the important Christmas quarter. The retail giant is struggling with problems in the supply chain and with personnel. The result dropped by almost half. That was the sharpest decline in more than four years. The Amazon share fell 2.2 percent. Meanwhile, Apple missed its sales forecast in its fourth fiscal quarter, and iPhone sales were slightly lower than expected. At the same time, the company warned of major problems with the supply chain for the coming months. The share lost 1.8 percent. Starbucks has also presented business figures. The coffeehouse chain missed the market's sales expectations. In contrast, the forecast was slightly exceeded for net profit. The share lost 6.3 percent. Pfizer / Biontech's Covid-19 vaccine has been approved by the Food and Drug Administration (FDA) for children ages five and older. It is the first vaccination that the US federal health authorities have allowed for this age group. While the Biontech share lost 1.8 percent, Pfizer improved 1.3 percent. The US subsidiary of the German biopharmaceutical company Biofrontera posted a weak IPO on the Nasdaq. The first price was $ 4.09, well below the issue price of $ 5. The papers closed at $ 4.41, down 11.8 percent on the issue price.