NEW YORK (dpa-AFX) – For fear of too high valuations of high-growth technology stocks, the indices on the New York Nasdaq stock exchange lost out on Monday. The NASDAQ 100 fell by 2.63 percent to 13,223.74 points. When inflation expectations suddenly picked up and interest rates rose, investors fled those stocks that had done best, said analyst Jochen Stanzl from broker CMC Markets, explaining the wave of profit-taking in the technology sector.
The leading index Dow Jones Industrial (Dow Jones 30 Industrial) did much better, surpassing its record high on Friday. At the end of the day, however, it was only enough for an increase of 0.09 percent to 31,521.69 points. The market-wide S&P 500 lost 0.77 percent to 3876.50 points.
In the Dow, Chevron were among the best with a plus of 2.7 percent. Oil prices rose again on Monday. The commodities experts at the US investment bank Goldman Sachs also expect a further sharp rise in oil prices in the coming months.
Top value in the Dow was Walt Disney, which reached a record high and went out of trading with plus 4.4 percent. Tech stocks such as Intel, Apple and Microsoft were particularly weak, with discounts of more than three and a half percent in some cases.
The aircraft manufacturer Boeing was in the spotlight with negative headlines. After the engine failure of a Boeing 777 near Denver, the US Federal Aviation Administration ordered inspections for machines of this type which are equipped with certain engines from Pratt & Whitney. The Boeing papers fluctuated between plus and minus and closed 2.1 percent lower. The shares of Raytheon Technologies, the parent company of Pratt & Whitney, lost 1.7 percent.
The US tire manufacturer Goodyear (Goodyear TireRubber) wants to strengthen itself with the billion-dollar takeover of competitor Cooper (Cooper TireRubber). Cooper shareholders will receive $ 41.75 in cash and 0.907 shares of Goodyear per share. Cooper stock shot up more than 29 percent to $ 56.64. Goodyear gained 21 percent.
The corona pandemic broke huge losses for the cruise company Royal Caribbean (Royal Caribbean Cruises) last year, but there is increasing confidence that the crisis will end. The number of new bookings has already risen sharply since the beginning of the year, and a lot of demand has evidently built up during the pandemic, the management said. The shares gained over nine percent.
Supported by a robust Ifo business climate, the euro rose strongly. After the New York stock market closed, $ 1.2153 was paid for the common currency. The European Central Bank (ECB) had set the reference rate at 1.2133 (Friday: 1.2139) dollars, the dollar cost 0.8242 (0.8238) euros.
US Treasuries fell again. The futures contract for ten-year Treasuries (T-Note-Future) fell by 0.10 percent to 135.35 points. The yield on the ten-year bond rose to 1.362 percent. At 1.392 percent, it temporarily reached its highest level in about a year./ajx/he
— By Achim Jüngling, dpa-AFX —
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