Stocks New York Conclusion: No Clear Direction According to Minutes of Fed Meetings | 08/19/21

NEW YORK (awp international) – US stock markets closed on Thursday with no clear trend. The standard values ​​on Wall Street trended slightly, while the technology stocks on the Nasdaq mostly rose. Fresh US economic data offered light and shade. The further increase in the number of corona cases in the USA and the fear of a possible tightening of monetary policy by the US Federal Reserve had a negative impact.

The Dow Jones Industrial closed with a loss of 0.19 percent at 34 894.12 points after losing more than one percent the previous day. The market-wide S&P 500 rose on Thursday by 0.13 percent to 4405.80 meters. The technology-heavy Nasdaq 100 gained 0.51 percent to 14,933.93 points.

The recovery of the US labor market from the Corona slump is progressing. Last week, the number of initial jobless claims fell again, this time by 29,000 to 348,000. The decline was therefore more pronounced than analysts expected. The economic outlook in the USA improved more than expected in July – as measured by the composite index of leading economic indicators. By contrast, the business climate in the Philadelphia region surprisingly clouded over in August.

Among the individual values, the stocks of Cisco rose by 3.8 percent and were thus the front runner in the Dow. A high demand for devices for Internet and data traffic brought the network specialist significant business growth in the past quarter.

A high demand for gaming equipment such as graphics cards and technology for data centers helped the chip company Nvidia to have a surprisingly strong second quarter. The shares gained 4.0 percent, making them one of the strongest stocks in the Nasdaq 100 index.

The department store group Macy’s convinced investors with a surprising net sales target for the current financial year. The shares shot up by almost 20 percent and reached their highest level since January.

Alibaba’s shares extended their recent losses and fell nearly 7 percent. The online trader’s Hong Kong-listed paper had previously fallen to record lows amid continued pressure from Chinese regulators.

Doordash’s papers plummeted 5.0 percent. The news agency Bloomberg had previously reported, citing insiders, that the conglomerate Softbank plans to sell shares in the food supplier with a volume of around 2.2 billion US dollars.

The euro crumbled somewhat in US trade and approached its lowest level in nine months. Most recently, the common currency was traded at 1.1676 US dollars. The European Central Bank (ECB) had set the reference rate at 1.1696 (Wednesday: 1.1723) dollars. The dollar had thus cost 0.8550 (0.8530) euros.

The prices of US bonds held their initial price gains during trading. The futures contract for ten-year Treasuries (T-Note-Future) was recently quoted 0.21 percent higher at 134.42 points. In return, the yield on ten-year government bonds fell to 1.24 percent./edh/stw



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