Börse Express – New York Stocks: Dow under pressure

NEW YORK (dpa-AFX) – After early records in some US indices, the mood on the New York stock exchanges faded on Tuesday. Disappointing economic data dampened investors’ willingness to take risks, and losses have mostly been on the price board recently. Both the S&P 500 had records in early trading
as well as the Nasdaq 100 reached. While the market-wide index S&P 500 recently fell by 0.44 percent to 4,333.28 points, the Nasdaq 100 remained just 0.11 percent up at 14,743.48 points.

The technology stocks concentrated on the Nasdaq were therefore relatively robust. Probably the most famous US price barometer Dow Jones Industrial recently lost 0.79 percent to 34,510.18 points with its standard values. While his index colleagues are rushing from record to record, its previous record has now been in place for four weeks.

The gap between rising technology and falling standard values ​​widened in the first hour of trading, also due to fresh economic data. The sentiment in the service sector derived from the ISM index could not meet the forecasts. According to analyst Tobias Basse, it is becoming increasingly clear that “the current economic upswing in the United States is beginning to reach its capacity limits.” In general, investors increasingly fled the cyclical stocks that were in demand recently.

Classic industrial and banking stocks were under pressure in the Dow. There were clear losses between 1.4 and 2.4 percent for the conglomerate 3M, the chemical company Dow , the construction machinery manufacturer Caterpillar and the two finance houses JPMorgan as well as Goldman Sachs
. Oil stocks, such as Chevron, were also under pressure
with a discount of two percent. It did not help here either that the states in the OPEC cartel could not agree on an expansion of their production.

On the Dow winners side were individual stocks from the technology sector, such as price gains of 1.2 and 0.5 percent at Apple
and Salesforce showed. At Apple, JPMorgan expert Samik Chatterjee wrote that it was time again to buy the shares of the iPhone manufacturer. The shares of Amazon reached the Nasdaq a new record with a price jump of 4.7 percent.

However, certain groups of stocks did not join the positive sentiment on the Nasdaq. These included, on the one hand, the corona vaccine values ​​with losses of more than five percent at the Biontech traded in the USA Shares. They suffered from statements by the Israeli Ministry of Health, according to which the effectiveness of the corona vaccine against the Delta variant has decreased significantly compared to the original forms of the virus. The shares of Biontech partner Pfizer also suffered from the news with minus 1.7 percent.

The second group of losers on the Nasdaq were the stocks of Chinese companies listed there. Fear of regulatory hurdles spread here. The driver service broker Didi is particularly prominent that has been targeted by the Chinese authorities. The papers recently issued on the Nasdaq collapsed by a fifth. As the Chinese cyber supervisory authority announced on Monday, investigations into the handling of the data collected were ongoing.

In addition to Didi, other companies are said to be affected, such as the truck brokers of the Full Truck Alliance as well as the recruiter Kanzhun . Their papers sagged in US trade by 16 and 17 percent.

The concerns also extended to many other stocks of Chinese companies that are listed in the United States. The papers of the search engine operator Baidu , the two online trading platforms JD.com and PinDuoDuo
, the online travel agency Trip.com and those of the Internet group NetEase were among the big losers on the Nasdaq, with losses of between 2.5 and 5.7 percent./tih/jha/

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0305 2021-07-06/20:18

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