NEW YORK (dpa-AFX) – The latest record hunt for some US indices continued on Wednesday with only moderate gains on the New York stock exchanges. As the central investor debate continues to revolve around monetary policy perspectives, investors’ risk tolerance was limited before a central bank symposium. The leading index Dow Jones Industrial (Dow Jones 30 Industrial) gained 0.28 percent to 35,465.17 points two hours before the end. His record is now more than a week old.
For the recently record-high S&P 500 and NASDAQ 100 indices, however, the momentum was enough to just outperform the previous records. The market-wide S&P listed above 4500 points for the first time, most recently it rose by 0.29 percent to 4499.09 points. With the technology-heavy Nasdaq barometer, however, the tailwind was lost: After the interim jump over the 15,400 points, it was last unchanged in percentage terms at 15,357.57 points.
It is eager to see what the monetary authorities will discuss at the Jackson Hole Conference, which is being held online again. Federal Reserve Chairman Jerome Powell wants to speak on Friday. On the one hand, an initial tightening is considered possible on the market this year, for example through a reduction in bond purchases. On the other hand, the delta variant of the corona virus is currently causing concern again as a brake on the economy.
But chief economist James McCann from Aberdeen Standard Investments looks calmly at the meeting. Powell is unlikely to send clearer signals until September. “Whether the market likes it or not, this will probably not be a speech with clear words,” said the expert. “Anyone expecting fireworks here is looking in the wrong place,” he added.
Otherwise, news remained relatively calm below the standard values. The better stocks in the Dow included JPMorgan (JPMorgan ChaseCo) and Goldman Sachs, two banks with gains of 2.1 and 1.3 percent, respectively. Stock marketers justified this with rising market interest rates and referred to the yield on ten-year US bonds, which reached 1.35 percent on Wednesday, its highest level for almost two weeks.
Otherwise, the music played in the small cap range with quarterly figures. Dick’s Sporting Goods stocks were up 14.5 percent. The sporting goods retailer had surprised positively in the second quarter and with its forecasts and also announced a special dividend. The picture was completely different in the textile industry at Urban Outfitters, as a price slide of 8.6 percent shows. The quarterly forecast was disappointing here.
Analyst comments also moved in the second-tier range. For the papers of Boston Beer (Boston Beer Company) it went down by 5.6 percent after expert Vivien Azer from the analysis house Cowen expressed her skepticism about the shares in the course of a downgrade. Conversely, Okta shares rose five percent on the Nasdaq 100 top. For the experts at Raymond James, the authentication software specialist is now a “strong buy”.
After a recovery rally, the situation calmed down for China stocks, which are listed in the US. For the shares of the e-commerce platforms Pinduoduo and JD.com (JDcom), which had jumped particularly strongly the day before, things were now mixed up again, while Pinduoduo was down 1.6 percent. The courses at such tech companies from China have long been suffering from a Chinese regulatory offensive./tih/he
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