Börse Express – New York shares: Dow can assert itself

NEW YORK (dpa-AFX) – The US stock markets presented themselves without a clear direction in trading on Thursday. Disappointing US services sentiment data wiped out early gains. There is still no relaxation in the Ukraine crisis. Despite renewed negotiations between Russia and Ukraine, Russian airstrikes on the neighboring country intensified. This, coupled with Western sanctions against Russia, pushed oil prices to their highest level since 2008 and fueled renewed fears of a recession.

Der Dow Jones Industrial was last listed 0.26 percent higher at 33,979.53 points. The market-wide S&P 500
stagnated at the level of the previous day. For the tech-heavy select index Nasdaq 100 on the other hand, it went down by 0.76 percent to 14135.12 points.

Sentiment in the US service sector deteriorated significantly in February. The purchasing manager index of the Institute for Supply Management (ISM) fell by 3.4 points to 56.5 points compared to January. Analysts, on the other hand, had expected an improvement to an average of 61.0 points.

Other economic data, on the other hand, were positive. US industrial companies received more orders than expected in January. In addition, the situation on the labor market – measured by the number of weekly initial applications for unemployment benefits – improved more than forecast. Furthermore, the productivity of the US economy recovered significantly in the final quarter of 2021 from the decline in the summer months.

On the company side, there were a few quarterly reports that caused larger price movements. This is how the latest annual figures and the medium-term outlook of the electronics retailer Best Buy came
very well received by investors. The shares rose by around eleven percent.

For the Kroger papers it also went up by around eleven percent after the supermarket chain had performed better than expected in terms of earnings last year. In addition, the company’s targets for the new financial year exceeded market forecasts./edh/he

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0462 2022-03-03/20:11

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