NEW YORK (awp international) – On the last trading day of the week, price losses dominated the picture on the US stock exchanges. The leading index Dow Jones Industrial fell 0.33 percent to 34 638 points. On a weekly basis, the Dow is treading on the spot. Over the course of the week, the index fluctuated below 35,000 points.
The so-called big decline on the futures exchanges could hold back the courses. On these four trading days a year, the stock business is usually determined by trading-technical aspects. But the meeting of the US Federal Reserve next Wednesday is already casting its shadow.
The market-wide S&P 500 fell in early trading by 0.55 percent to 4449 meters. The technology-heavy Nasdaq 100 fell slightly more by 0.70 percent to 15,407 points. The bottom line is that the consolidation of the past few weeks is continuing.
Stock marketers speak of a “big decline” when the last trading day of all four types of derivatives, ie options and futures contracts on indices and individual stocks, falls on the same day. Share prices and indices are then prone to fluctuations even without specific news, because investors try to move prices in the direction that is favorable for them shortly before these derivatives expire.
Price-moving corporate news was in short supply ahead of the weekend. The fund company Invesco is according to the “Wall Street Journal” in talks about a takeover of the financial services company State Street. The Invesco shares then rose 4.5 percent, while State Street fell 1.5 percent.
The steel manufacturer United States Steel is considering building another steel mill. As a result, the share price fell 6.2 percent. Analysts worry that additional production capacity could result in oversupply. Carlos de Alba of Morgan Stanley also pointed out that US Steel would use a large part of the cash on the construction. / Get / men
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