NEW YORK (awp international) – Investors on Wall Street have been on hold after the losses earlier this week. The main stock indices barely moved on Tuesday. Investors are already eagerly awaiting the start of the companies’ reporting season. In the coming days, big banks in particular will report on the past quarter.
The Dow Jones Industrial traded minimally lower at 34,490.27 points in early trading. The S&P 500 gained 0.02 percent to 4361.89 points. For the technology-heavy Nasdaq 100, it went up 0.01 percent to 14,715.41 points.
Investors are currently torn between the prospect of rising corporate earnings in the wake of the macroeconomic recovery and inflation concerns on the other. The focus at the moment is particularly on oil prices, which are still quoting above 80 US dollars per barrel and thus close to multi-year highs. However, their recent strong increase has currently weakened again somewhat.
On both sides of the Atlantic, there are fears that the oil price rally could lead to energy bottlenecks and stifle the global economic recovery from the corona pandemic. Apart from that, China is also being looked at, because the world’s second largest economy has been taking stricter regulatory action for some time, controls monopolies more closely and is probably expanding its reviews of the financial and banking system.
At the top of the Dow, Nike’s shares rose 1 percent after US investment bank Goldman Sachs recommended the shares to be bought. Analyst Kate McShane referred, among other things, to the high liquidity of the sporting goods group, which should enable additional investments and capital returns to the shareholders. The shares hold further upside potential, especially after the recent price decline, it was said.
American Airlines is expected to be in the black in the third quarter, among other things, given a recovery in ticket demand. The airline owes this to the state financial aid to secure jobs in the Corona crisis. The shares gained almost one percent./la/he
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