June 01, 2021, 11:05 p.m.
June 01, 2021, 11:05 p.m.
Update: June 1st, 2021, 11:06 p.m.
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New York (dpa) Despite optimism in view of the progressing corona vaccinations, the US exchanges remain below expectations in the new month. The US Federal Reserve could be forced to take countermeasures.
A street sign for Wall Street can be seen in front of the New York Stock Exchange. The US stock exchanges lost momentum on the first day of trading in June after a strong start.
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The US stock exchanges lost momentum on the first day of trading in June after a strong start. The Dow Jones Industrial only gained almost one percent, but the joy of the significant price gains did not last long.
The leading index crossed the finish line only slightly with a plus of 0.13 percent at 34,575.31 points. The Wall Street barometer did a little better than the other New York indices, which had just slipped into the red. The market-wide S&P 500 lost 0.05 percent to 4202.04 counters. The Nasdaq 100 selection index, which is shaped by technology stocks, fell 0.23 percent to 13,654.59 points.
At the beginning of the market it was said that in view of the ongoing corona vaccination campaign and the associated easing, investors apparently continued to trust in a significant economic recovery. A brighter mood in US industry later underscored this optimism, but then quickly reminded investors of their concerns that the US Federal Reserve, with its previously extremely loose monetary policy, could be forced to take countermeasures.
Sentiment in US industry, as measured by the ISM index, brightened somewhat more than expected in May. According to NordLB, the rise in the purchasing managers’ index to 61.2 points will help ensure that the hot topic of inflation in the USA will remain with us this summer. Worries about inflation and the associated pressure on the central bank have long been seen as a brake on the share rally.
A pillar for the Dow was the 2.8 percent higher shares of the oil company Chevron, which gave a strong boost in the oil price tailwind. This was followed by other industry values such as ExxonMobil or ConocoPhillips by 3.6 and 4.5 percent respectively. On the oil market, speculation about stronger demand after the corona crisis subsided came to the fore.
In the midst of the good economic signals, Boeing, a classic industrial stock, rose to the front in the Dow, whose shares posted a high since mid-April with a gain of 3.1 percent. There were also clear price gains in the banking sector with 2.8 percent at Goldman Sachs and 1.1 percent at JPMorgan.
Meanwhile, the shares of cloud specialist Cloudera shot up by almost 24 percent thanks to a takeover offer, at a price close to the offer. Affiliates KKR and Clayton Dubilier & Rice are bidding $ 16 per share. After the takeover, they want to take the company off the stock exchange.
Optimism in terms of falling new infections and corona easing generally drove shares in the travel industry. For the papers of the cruise company Royal Caribbean Cruises it went up by 3.2 percent, among the airlines American and United Airlines fell positively with increases of up to 2.3 percent.
Otherwise, the AMC shares, which are popular with US retail investors organized on the Internet, jumped sharply again on Tuesday, this time by almost 23 percent. In the cinema chain, the easing is currently giving a lot of hope. The fact that the investment company Mudrick Capital Management bought in with a block of shares was also something to be discussed.
The euro was stable above the $ 1.22 mark. At times, the common currency had reached a high of $ 1.2254 for almost a week, and most recently $ 1.2219 was paid. The European Central Bank (ECB) had meanwhile set the reference rate at 1.2225 (Monday: 1.2201) dollars. The dollar cost 0.8180 (0.8196) euros.
On the bond market, the futures contract for ten-year Treasuries (T-Note Future) remained at 131.84 points. The ten-year bond yield was 1.61 percent.
dpa-infocom, dpa: 210601-99-827114 / 2
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