New York Stocks End: Slightly Below Recent Records

In the medium and long term, the trend arrow in the Dow clearly points upwards, wrote chart technology expert Franz-Georg Wenner from Index Radar. In the coming days, however, investors should be patient. Allianz economists believe that President Joe Biden’s stimulus package to improve infrastructure will drive US growth over the long term.

A surprisingly strong increase in employment in the United States in March had driven both the Dow and the broad-market S&P 500 to highs the day before. The mood among service providers in the USA also brightened more strongly than expected in March. This Tuesday, the S&P 500 initially set another record. From trading, it went down by 0.10 percent to 4073.94 meters. The tech-heavy Nasdaq 100 fell 0.14 percent to 13,578.46 points.

The stocks of the pharmacy chain Walgreens Boots Alliance were with minus 1.94 percent behind in the Dow. In the lead, with a plus of 1.51 percent, were the papers of the sporting goods manufacturer Nike. McDonald’s followed with a plus of 1.34 percent, they had reached a record high over the course of the year. The burger chain is considered a “reopening play”. This means stocks that benefit particularly from the elimination of the corona restrictions, as is the case with McDonald’s with the reopening of burger restaurants.

After a circular announcement that the Walmart-controlled Indian online retailer Flipkart is aiming for an IPO in the fourth quarter of this year, the shares of the US retail giant turned positive. At the close of trading, 0.48 percent remained on the credit side.

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Illumina rose almost eight percent after the specialist in gene sequencing had significantly exceeded analyst expectations with its preliminary sales for the first quarter.

The euro expanded its growth in New York retail. After the market closed, US $ 1.1874 was paid for the common currency. The European Central Bank (ECB) had set the reference rate at 1.1812 (Thursday: 1.1746) dollars, the dollar cost 0.8466 (0.8514) euros.

The futures contract for ten-year US Treasuries rose 0.34 percent to 131.70 points. The ten-year papers yielded 1.66 percent./ajx/he

— By Achim Jüngling, dpa-AFX —

(AWP)

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