The Dow Jones Industrial Average fell 232.85 points (0.68%) to 34,079.18 points. Standard & Poor's 500 decreased by 31.39 points (0.72%) - up to 4348.87 points. The Nasdaq Composite dropped 168.65 points (1.23%) to 13,548.07 points.
Dow Jones Industrial Average lost 1.9% over the week, S&P 500 - 1.6%, Nasdaq Composite - 1.8%.
Today the US markets are closed due to the holiday (Presidents' Day).
Shares of Shake Shack Inc. fell by 4.1% in trading on Friday. The American fast food chain halved its net loss in the fourth quarter of last fiscal year and increased revenue by more than a quarter, but did not issue a full-year forecast due to market uncertainty.
The cost of Roku Inc. shares. fell by 22%. The streaming equipment company's net income fell 65% in the fourth quarter, while its revenue forecast for the current quarter fell short of analysts' expectations.
Share price of Intel Corp. dropped by 5.3%. After the market closed on Thursday, the company released guidance for 2022 that came in better than market expectations. So, Intel predicts that its profit this year will be $3.5 per share on revenue of $76 billion, while the forecasts of experts polled by FactSet suggest earnings of $3.42 per share on revenue of $74.99.
Intel CEO Pat Gelsinger noted that revenue growth will be moderate this year and will begin to accelerate from next year. By 2025-2026 they will increase to 10-12% per year and will remain double-digit in the future.
Deere & Co., which released its first financial quarter results on Friday, shed 3% despite the company's strong results. The US farm equipment maker's net income and revenue beat market forecasts last quarter.
Share price of JPMorgan Chase & Co. increased by 0.5%. The bank's chief financial officer, Jeremy Barnum, expressed confidence that JPMorgan could achieve a medium-term return on tangible capital (ROTCE) of 17%.
Barnum also noted that the bank's financial markets division's revenue is likely to fall by 10% in the first quarter, but this rate of decline will be lower than expected. In addition, he confirmed that JPMorgan plans to increase capex by $3.5 billion in 2022, including investments in technology projects.
From the perspective of investors, one of the most important consequences of the escalation of the crisis for the global economy could be a reduction in the supply of oil on the market. Russia is one of the world's largest producers of this type of raw material, and potential sanctions or any other restrictions could lead to an even more significant rise in prices, experts say.
Statistical data on the US housing market, published on Friday, were better than expected. US existing home sales increased 6.7% in January to 6.5 million homes on an annualized basis, the National Association of Realtors (NAR) said. In December, resales decreased by 3.8% and amounted to 6.09 million, and not 6.18 million as previously reported. Experts on average predicted a decline of 1% compared to the previously announced figure.
