NEW YORK (dpa-AFX) – After the course records for the inauguration of the new President Joe Biden the day before, the US stocks ran out of steam in early trading on Thursday. Although the leading index Dow Jones Industrial climbed to a high again immediately after the starting bell, it then quickly gave up the moderate gains.
Most recently, the Dow was 0.03 percent in the red at 31,178 points. The market-wide S&P 500 was 0.04 percent with 3851 meters in the red. The technology-heavy Nasdaq 100, on the other hand, gained 0.35 percent to 13,343 points and reached another record high.
Since the beginning of November, the prices on Wall Street and even more so on the Nasdaq had risen sharply. The Nasdaq 100, for example, had gained almost 18 percent since then. The day before Biden’s inauguration, investors had once again grabbed it, but now the time could be ripe for a break after this price rally.
The season of quarterly reports from companies is picking up speed and is moving prices in some areas. For example, United Airlines shares lost almost six percent. The ailing airline has declared 2021 to be a year of transition and, according to its own statements, will not be as profitable again as it was before the Corona crisis in 2023.
The papers of the aluminum producer Alcoa sagged by nine percent. Bank of America analysts complained that the company expected higher costs and had to spend cash on pension obligations.
The shares of the insurer The Travelers included in the Dow, on the other hand, topped the leading index with a plus of 3.3 percent. Earnings per share exceeded even the highest analyst estimate in the final quarter of 2020. / Bek / he
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