NEW YORK (awp international) – After the positive start to the week, the US stock exchanges are again facing a weak start on Tuesday. While the reporting season picks up speed, inflation-related interest rate and economic concerns continue to shape trading, the market said. Three quarters of an hour before the start, IG assessed the Dow Jones Industrial 0.63 percent lower to 33,836 points. The broker expects the Nasdaq 100 to be 0.59 percent lower at 13,453 points.
On Monday, Twitter in particular caused a stir with its support of the Elon Musk bid and the tech-heavy Nasdaq 100 had gained more than the Dow. Investors are now increasingly waiting for numerous business figures, especially from the tech sector. With Microsoft and Alphabet, these will only come on Tuesday after the stock market closes. In the coming days, Apple, Amazon and the Facebook group Meta will be followed by other tech giants.
On the Tuesday before the start of the stock exchange, there was more news in the context of the reporting season in the area of standard values. There were results, for example, from United Parcel Service and General Electric – with mixed results, as the pre-market price reactions show. While the stocks of the logistics company UPS rose, those of the conglomerate GE slipped clearly into the red.
The US parcel service UPS started the year with surprisingly strong growth and intends to double its share buybacks. There was also good news internationally in the industry with an increased outlook for the Danish shipping company Maersk. UPS stocks rose 1.8 percent premarket.
At General Electric, the results of the first quarter were rated as positive in the first comments. The course fell pre-market by 3.5 percent in the red because of a poor outlook. The supply chain problems and rising raw material prices are responsible for the fact that the group is geared towards the lower end of its previous annual targets, it said.
After a weak first quarter, the same was also true of the shares of the next conglomerate 3M, which fell by 1.4 percent before the market. At the beginning of the year, the company was slowed down by the strong US dollar and higher costs. Here, too, the outlook was considered a burden. According to numbers, the titles of the brewing company Pepsico were down just under 0.1 percent.
Twitter shares paid $51.70 premarket, below Elon Musk’s offer of $54.20 per share. Despite previous resistance, the board of directors of the short message service has now approved the deal. Now enough shareholders still have to sell their shares to the Tesla founders./tih/mis
–
