Relaxation on government bonds: Wall Street is heading into the weekend in a forgiving mood

After the previous day's sell-off, a more relaxed mood returned to Wall Street at the end of the week. Trump's announcement that he will do nothing in Iran until the midterm elections is keeping oil prices stable. Yields on the bond market are falling.

An easing of tensions on the bond market gave US investors cautious optimism at the end of the week. The Dow Jones index of standard stocks closed 0.8 higher in the evening at 51,654 points. The broader S&P 500 and the Nasdaq technology exchange index each advanced 0.6 percent to 7,811 and 27,366 points.

The prices for North Sea crude oil Brent and US light oil WTI remained unchanged. US President Donald Trump previously said the US would not attack Iran before next month's midterm elections. A somewhat more relaxed situation emerged on the bond market. The yield on 30-year US government bonds fell slightly to around 5.5990 percent.

However, the impending start of the US accounting season next week caused caution among investors and limited price gains. The narrow market breadth in the S&P 500 suggests that investors believe big technology stocks are better equipped to withstand higher oil prices and rising yields, said strategist Doug Beath of Wells Fargo Investment Institute. "A disappointment, particularly in the technology sector, could trigger a significant pullback rather than just the usual market turmoil."

Waiting for bank balance sheets

The reporting season begins as usual with the quarterly results of the major banks. Four of the six largest US financial institutions, JPMorgan, Goldman Sachs, Citigroup and Wells Fargo, will present their results on Tuesday. Morgan Stanley and Bank of America will follow on Wednesday. "Banks are a good indicator of how loan demand is developing and what the general economic situation is," said Kim Forrest, chief investor at Bokeh Capital Partners. “This also gives us insight into what the Fed may do.”

In terms of individual stocks, shares from the telecommunications sector came under pressure. SpaceX, the space company owned by billionaire Elon Musk, says it has secured a nationwide portfolio of mobile phone frequencies. In the future, it will be able to offer satellite-supported voice and Internet connections via standard smartphones. So far, its satellite subsidiary Starlink has mostly relied on cooperation with traditional telecommunications companies such as T-Mobile, AT&T and Verizon. Their shares slipped by 8.5 to 13 percent.

Apple gives in

Apple fell by around 1.1 percent. According to a newspaper report, the technology group is cutting orders for iPhone components due to weak demand.