The majority of the US stock markets were in the red on Tuesday. The technology stocks on the Nasdaq were particularly under pressure. Only the standard values on the …
NEW YORK (dpa-AFX) – The US stock markets were mostly in the red on Tuesday. The technology stocks on the Nasdaq were particularly under pressure. Only the standard values on Wall Street tended to be friendly. Traders spoke of a choppy trade with low sales and blamed profit-taking after the recent price rally for the setback. News of a record increase in coronavirus cases worldwide gave slightly negative impulses.
The Dow Jones Industrial (Dow Jones 30 Industrial) closed with an increase of 0.26 percent at 36 398.21 points. The S&P 500 lost 0.10 percent to 4,786.35 after hitting yet another record high in early trading. The tech-heavy NASDAQ 100 fell 0.48 percent to 16,488.66 points.
The sharp rise in Omicron infections brought the worldwide Covid-19 cases to a daily high on Monday. Investors are reassured by studies, according to which the Omikron variant is highly contagious, but causes less serious diseases, it said from the trade.
AlphaTrai’s investment strategist Max Gokhman attributed the sagging trend to “gravity”. “There was no clear catalyst for the climb on Monday, so we’re giving some of it back today,” he said. “I don’t think today’s setback suggests any further declines, but this week’s seasonally low volume, coupled with stock-level volatility unusually high for the time of year, means a single false headline will result in a significant move one way or the other Direction if we embark on the final leg of 2021, “said Gokhman.
From an industry perspective, the flagging airline shares on the previous day fell on Tuesday with recovery gains. United Airlines and Delta Air Lines stocks each gained 1.6 percent, while American Airlines stocks rose 2.0 percent. The US airlines had canceled hundreds of flights over the Christmas weekend due to the rampant Coronavirus variant Omikron and massive bad weather.
The shares of Novavax lost their more than ten percent starting gains in the course of trading completely and ended with a loss of 1.2 percent. Initially, the news supported that the US vaccine manufacturer had now also received emergency approval for its Covid-19 vaccine from the Indian Medicines Agency. The Novavax corona vaccine has also been officially approved in the EU for a few days.
In US trading, the euro recovered somewhat from its clear loss in late European business and rose again above the $ 1.13 mark. Most recently, the European common currency cost $ 1.1311. The European Central Bank had set the reference rate at 1.1331 (Monday: 1.1312) dollars. The dollar had thus cost 0.8825 (0.8840) euros.
US Treasuries rose moderately. The futures contract for ten-year Treasuries (T-Note-Future) recently advanced by 0.05 percent to 130.62 points. The yield on ten-year government bonds stood at 1.48 percent./edh/he
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