Home » Business » Dow Jones closes in the red – Netflix shares rise seven percent

Dow Jones closes in the red – Netflix shares rise seven percent

new York The US standard values ​​suffered losses at the start of the new trading week. The upcoming balance sheet season casts its shadows ahead, experts said. Many investors expected weaker results from the corona virus outbreak and the resulting paralysis of business life. In addition, signs of the long-term effects of the pandemic clouded the mood on the floor.

While the Dow and S & P-500 gave way, the Nasdaq technology exchange rose on the upswing of the online retailer Amazon. Oil prices showed no clear trend after the leading crude oil producers agreed on a record cut in production.

The Dow Jones index of standard values ​​closed 1.4 percent weaker at 23,390 points. The broader S&P 500 lost one percent to 2,761 points. In contrast, the index of the technology exchange Nasdaq advanced by 0.5 percent to 8192 jobs.

On Tuesday, the US banks JP Morgan Chase and Wells Fargo give the starting signal for the balance sheet season. Analysts expect a weak outlook for the rest of the year to be reflected in the number of financial institutions.

This also applies to other industries, said Mike Loewengart, investment strategist at E-Trade Financial Corp. The numbers also offer a lot of opportunity for coffee grounds reading – for example on the question of whether the downturn has already been fully factored in or whether it will come even more violently.

Focus on individual values

On the oil market, prices reacted to the cut in production with occasionally significant fluctuations, which US industry stocks such as ExxonMobil and Chevron followed. In the end, the latter only increased moderately by 0.7 percent, whereas the former, at a discount of 0.9 percent, did not become a profiteer. Goldman Sachs expert Neil Mehta continued to express his preference for chevron in a study Monday.

The values ​​from the travel and leisure industry are not revving up sustainably. After last week’s recovery, things went downhill again for the airlines, especially for United Airlines by more than eight percent. Hotel and cruise providers and travel portal operators followed the example: Marriott, Expedia and Carnival lost up to 7.4 percent.

The bottom of the Dow were shares of Caterpillar, for which grading by Bank of America experts on Monday was a stumbling block on their way to recovery. They slumped by 8.7 percent after expert Ross Gilardi expressed pessimistic comments about the construction machine manufacturer’s prospects in key customer segments.

On the technology-heavy Nasdaq exchange, the mood of price gains for shares such as Netflix and Amazon brightened. The two stocks, which have recently been traded as beneficiaries of the corona crisis, continued their recent rally with increases of seven and 6.2 percent respectively. Both are gradually starting to run up to their previous highs.

While the papers stood by the carmaker ford and General Motors suffered from virus worries on Wall Street with taxes of 3.9 and 4.4 percent respectively Tesla-Share still a rosy picture. They jumped to the top in the Nasdaq 100 with a price jump of 13.6 percent. For the titles of the electric car maker, this was the sixth day in a row to win.

Among the winners were also those at the Nasdaq Ebay-Shares with a course increase of almost three percent. The online marketplace has found a new boss – Jamie Iannone comes from the US shopping giant Walmart. Its shares rose by almost three percent at the top of the Dow.

On the oil markets, the North Sea Brent rose by 1.3 percent to $ 31.87 a barrel. By contrast, US crude was trading 1.3 percent lower at $ 22.47.

More: The US institutes are threatened with the “triple whammy”: the idle economy, provisions for loan defaults and lower key interest rates are depressing profits.

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