Friday February 7th 2020
–
The corona virus is again weighing on the mood of investors in the US market. The main indices are giving way, the Dow Jones is losing almost one percent in value. Surprisingly strong US job data can do no good.
Worry about the spread of the new coronavirus have the record hunt on the Wall Street put an end to it. At the end of the week, the most important indices were weaker, despite being more positive Labor market data, “Investors should be aware of the corona virus impact on global supply chains,” said Nikko Asset Management’s John Veil. Rick Meckler of Cherry Lane Investments referred to the news from China that the epidemic had a greater impact on the People’s Republic “than what people had imagined”.
–
The Dow Jones lost 0.9 percent to 29,103 points. The technology-heavy Nasdaq fell 0.5 percent to 9521 points and the broad one S&P 500 also lost 0.5 percent to 3,327 points. The hope of a rapid containment of the coronavirus had previously raised the index four days in a row. For the entire week, the Dow nevertheless gained three percent, the Nasdaq about four percent and the S&P 500 3.2 percent. The Dax had dropped by 0.5 percent on Friday to 13,514 points, the Euro Stoxx 50 was 0.2 percent lower.
The US jobs presented itself in robust condition. 225,000 new jobs were created in January, more than the 160,000 expected by economists. However, between April 2018 and March 2019, 514,000 fewer jobs were created than originally estimated.
At the current price level, too strong economic data are not wanted at all, as they could result in higher interest rates, said strategist Rick Meckler from asset manager Cherry Lane Investments. US cruise line stocks came under pressure due to illnesses affecting passengers on board. The papers from Royal Caribbean. Carnival and norwegian lost between about 3.6 and 4.7 percent each.
Shares of ebay also fell 4.7 percent after the exchange operator Intercontinental Exchange (ICE) moved away from a possible takeover bid for the online auction house. Disappointing Christmas sales broke Take-Two a course slide. The shares of the provider of video games such as “Grand Theft Auto” fell by almost twelve percent. The shares of Aboutwhich rose by 9.5 percent. Thanks to strong customer demand, the US travel agent wants to present first profits a year earlier than previously planned.
– ,
