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NEW YORK (dpa-AFX) – The US stock markets went out of trading at the start of the week. While the standard values on Wall Street slowed down their upward movement of the past trading days, the technology stocks traded on the Nasdaq went diving after the recent recovery rally. The focus remained on the soaring oil prices. US economic data showed little impact on prices.
The Dow Jones Industrial (Dow Jones 30 Industrial) closed on Monday with an increase of 0.21 percent at 34,869.37 points. The broader S&P 500, however, fell 0.28 percent to 4443.11 meters. The technology-heavy NASDAQ 100 lost 0.81 percent to 15,204.83 points.
In the United States, orders for durable goods rose significantly faster than expected in August. Orders were 1.8 percent higher than in the previous month. It is the fourth increase in a row. Analysts had expected an average growth of only 0.6 percent.
Oil prices continued their climbing course last week. This was justified with production losses in the Gulf of Mexico due to Hurricane Ida and the unexpectedly low production in the OPEC-producing countries in the past few months. The experts from Goldman Sachs raised their oil price forecast by the end of the year by 10 to 90 dollars. The global supply deficit is significantly larger than expected, while the economy is recovering faster than expected from the Covid-19 Delta variant, it said.
Among the individual stocks, oil stocks were accordingly among the best stocks. Chevron’s papers in the Dow rose around 2.4 percent. Exxon Mobil’s shares gained 3.0 percent and ConocoPhillips’s 2.6 percent.
Wells Fargo’s shares fell about 0.8 percent. The bank reached a settlement with the US Department of Justice for $ 37 million. Wells Fargo was accused of charging excessive prices over several years from customers who used the bank’s foreign exchange services.
The euro was unable to maintain the long-defended $ 1.17 mark in late US trading. Most recently, the common currency cost 1.1697 US dollars. The European Central Bank (ECB) had set the reference rate at 1.1698 (Friday: 1.1719) dollars. The dollar had thus cost 0.8548 (0.8533) euros.
US Treasuries tied on their price losses of the past trading days. The futures contract for ten-year Treasuries (T-Note-Future) fell recently by 0.19 percent to 131.77 points. In return, the yield on the ten-year government bond rose to 1.49 percent./edh/he
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