NEW YORK (awp international) – Renewed concerns about a Russian invasion of Ukraine overshadowed trading on US stock exchanges on Thursday. The reason is that the US government classifies the partial withdrawal of Russian troops from the border area with Ukraine as misinformation and warns against naivety in dealing with Russia. Instead, she assumes that the military presence will continue to expand. Russia reiterated its intention to withdraw its troops from Belarus after the end of the military maneuvers.
The Dow Jones Industrial recently fell by 1.18 percent to 34,522 points. The market-wide S&P 500 lost 1.41 percent to 4412 points. The tech-heavy Nasdaq 100 fell 2.00 percent to 14,310 points.
There is also little edifying in terms of the economy: the number of housing starts in January fell by a good four percent compared to December. The Philly Fed index, which measures business confidence in the Philadelphia area, came in below forecast in February. And the number of initial jobless claims has recently risen faster than economists had forecast.
Looking at the company’s quarterly reports, there were ups and downs. At the network supplier Cisco, business with fiber optic networks and 5G technology was particularly good recently. The share price rose to number two in the Dow Jones Industrial by 3.8 percent.
Walmart was number one on the Dow with a four percent premium. The largest US retailer had an better-than-expected Christmas quarter despite global supply chain issues.
Graphics processor maker Nvidia beat analyst consensus forecasts. The current market expectations are even higher, said a broker. The course fell by almost eight percent and was at the bottom of the Nasdaq 100.
The quarterly figures from the chip manufacturer Applied Materials were also good. However, the shares joined the general price weakness in the semiconductor industry and lost 1.8 percent.
The shares of the software provider and data analyst Palantir Technologies collapsed by a good twelve percent. Looking at the quarterly figures, the analysts at Citigroup stated that growth would continue to be weak.
Food delivery company Doordash booked a record number of orders in the final quarter of 2021 – despite easing risks related to the corona pandemic. The price soared 11.5 percent.
The papers of the conglomerate 3M were among the biggest losers in the Dow Jones Industrial with minus 3.4 percent. The investment bank Morgan Stanley had advised to sell./bek/he
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