NEW YORK (dpa-AFX) – New York’s Wall Street started to recover on Thursday after significant losses the previous day. The tech-heavy Nasdaq exchanges even more than made up for their setback. Expectations that key interest rates in the USA could still fall this year are still high, according to the market after the interest rate hike in the middle of the week. And this despite the fact that central bank chief Jerome Powell had said that the monetary watchdogs are currently not seeing this. On the other hand, if necessary, interest rates could be raised beyond the expected level.
The Dow Jones Industrial rose around two hours before the close of trading by 0.54 percent to 32,202.00 points after the best-known Wall Street index had lost 1.6 percent the previous day. The market-wide S&P 500 gained 0.87 percent to 3971.15 points. The Nasdaq 100 rose even more significantly, up 1.86 percent to 12,800.60 points.
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Bank values, which had started a new recovery attempt at the start of trading, have recently fallen noticeably again. Statements by the US Treasury Secretary had put the papers under pressure the day before. Janet Yellen had said that “blanket” deposit insurance to stabilize the US banking system would not be considered. At the same time, President Joe Biden is holding back, pointing to legislators and regulators.
Among regional banks, First Republic Bank and Comerica each fell 8 percent and PacWest Bancorp 10 percent. PacWest Bancorp. New York Community Bancorp was able to just keep up.
The shares of the industry giants were inconsistent: while Goldman Sachs shares in the Dow rose by 1 percent, those of JPMorgan remained stable. In the S&P 100, on the other hand, Bank of America shares fell 1.6 percent and Morgan Stanley also weakened.
The shares of the cryptocurrency exchange Coinbase lost around 14 percent after they had recently struggled a bit. In a dispute that has been simmering for a long time, the US Securities and Exchange Commission (SEC) is threatening to sue her for some products.
Block Inc (formerly Square) was down 14.5 percent. According to Hindenburg Research, it has shorted shares in the US payment service provider, so it is betting on falling prices. In January, the company, known for its short selling, had a public offering against Indian Millia’s corporate empire
Bank values, which had started a new recovery attempt at the start of trading, have recently fallen noticeably again. Statements by the US Treasury Secretary had put the papers under pressure the day before. Janet Yellen had said that “blanket” deposit insurance to stabilize the US banking system would not be considered. At the same time, President Joe Biden is holding back, pointing to legislators and regulators.
Among regional banks, First Republic Bank and Comerica each fell 8 percent and PacWest Bancorp 10 percent. PacWest Bancorp. New York Community Bancorp was able to just keep up.
The shares of the industry giants were inconsistent: while Goldman Sachs shares in the Dow rose by 1 percent, those of JPMorgan remained stable. In the S&P 100, on the other hand, Bank of America shares fell 1.6 percent and Morgan Stanley also weakened.
The shares of the cryptocurrency exchange Coinbase lost around 14 percent after they had recently struggled a bit. In a dispute that has been simmering for a long time, the US Securities and Exchange Commission (SEC) is threatening to sue her for some products.
Block Inc (formerly Square) was down 14.5 percent. According to Hindenburg Research, it has shorted shares in the US payment service provider, so it is betting on falling prices. In January, the company, which is known for short selling, bet on the stock market against the corporate empire of Indian billionaire Gautam Adani, causing its shares to plummet.
On the other hand, the papers of the construction company KB Home and those of the consulting company Accenture recorded significant gains according to the figures presented. Accenture, however, had lowered its annual targets at the same time and now wants to focus on efficiency and cut around 19,000 jobs./ck/jha/
