NEW YORK (dpa-AFX) – The US stock exchanges largely made up for their moderate losses from the start of trading on Tuesday. The most famous Wall Street index Dow Jones Industrial US2605661048 even made the leap into the plus. Enormous price fluctuations for a whole series of heavyweights on the New York Stock Exchange caused irritation among investors when the stock market opened. In a brief statement, they acknowledged problems with the start of trading in some stocks. An investigation into this is still ongoing. Trading was also briefly interrupted in between.
In the course of the reporting season, which is gradually picking up speed, several companies from the Dow Jones presented quarterly figures that were quite convincing on the market. Accordingly, the overall rather low pressure to sell quickly eased again. The mood data from US industry and the service sector, on the other hand, have hardly any impact on trade.
The Dow closed trading with an increase of 0.31 percent to 33,733.96 points. The market-wide S&P 500 US78378X1072 recovered largely and finally fell by 0.07 percent to 4016.95 points. The tech-heavy Nasdaq 100 US6311011026 reduced its drop to 0.22 percent, closing at 11,846.65 points.
According to an initial estimate, sentiment data (PMI) for January determined by S&P Global was better than expected. However, both values are still below the 50 threshold, which signals growth. However, S&P’s manufacturing and services PMIs are not accorded the same importance as the “old-established” ISM index, which is released a little later in each reporting month.
On the corporate side, the reporting season is gradually getting underway. Before the quarterly figures published after the trading day by the software manufacturer Microsoft US5949181045 The Dow initially focused on the insurer The Travelers, the conglomerate 3M, the consumer goods and pharmaceuticals manufacturer Johnson & Johnson and the mobile phone provider Verizon with their annual reports.
The Travelers Stock US89417E1091 took the lead in the index with a plus of 3.7 percent. Although the non-life insurer was clearly financially affected by the severe winter storm in the USA and Canada at the end of 2022, the much-noticed combined ratio provided relief among investors, as it was better than expected. At the Dow end, 3M slumped US88579Y1010 on the other hand, after a significant decline in profit, which was also adjusted below the analysts’ estimates, and according to statements for the year 2023, by 6.2 percent.
Johnson & Johnson US4781601046 closed at the previous day’s level. Fewer Covid vaccinations sold and the strong dollar slowed the company down in the final quarter of last year. For Verizon US92343V1044, one of those shares that was affected by enormous price fluctuations at the start of trading, ultimately rose by 2.0 percent. A disappointing annual forecast was offset by a surprisingly strong profit in the fourth quarter.
Also affected by the strong market fluctuations at the start of trading were the shares of McDonald’s in the Dow US5801351017 and Walmart US9311421039 or those of Visa US92826C8394. Im S&P 100 US78380F1021 about it hit Morgan Stanley US6174464486 and Wells Fargo US9497461015. “This is a bit worrying,” Edward Moya, market analyst at broker Oanda, told financial news agency dpa-AFX. “These are not the typical meme stocks that would be easy to manipulate,” said, but rather “some of the giants” are affected.
The Euro EU0009652759 was trading at $1.0885 at the Wall Street close. The European Central Bank had previously set the reference rate at 1.0871 (Friday: 1.0826) dollars. The dollar thus cost 0.9199 (0.9237) euros. On the US bond market, the futures contract for ten-year bonds (T-Note Future) rose by 0.31 percent to 115.05 points. In return, the yield on ten-year government bonds fell to 3.46 percent./ck/nas
— By Claudia Müller, dpa-AFX —
