NEW YORK (awp international) – On Wall Street, investors took it easy after Tuesday’s recent gains. The Dow Jones Industrial closed 0.55 percent in the red at 28 679.81 points. For the market-wide S&P 500 it went down by 0.63 percent to 3511.93 points. The previous day’s particularly strong technology-heavy selection index Nasdaq 100 held its own with a minus of only 0.04 percent to 12,083.17 points.
The market is still waiting for progress in the negotiations on a new Corona economic stimulus program – with the approaching US presidential election, hopes for an early breakthrough are apparently fading. On the other hand, the majority of the company news did not arrive.
The shares of the big banks JPMorgan and Citigroup lost more than one and a half and almost five percent, respectively, despite good quarterly figures. While the US industry leader surprisingly increased its profits thanks to the continuing boom in securities trading, Citigroup exceeded market expectations despite a downturn in business and a million-dollar fine.
At Johnson & Johnson, the share price fell by more than two percent. The pharmaceutical and medical technology group temporarily suspended a study for a future corona vaccine due to an unexplained disease of a subject. Unexpectedly good quarterly figures and more optimistic expectations for the year did not help the share. Competitor Eli Lilly’s titles lost almost three percent due to the interruption of a study with an antibody for the treatment of corona.
The shares of Delta Air Lines fell after another billion loss and a drop in sales in the third quarter by more than two and a half percent. The airline is now decommissioning a number of older aircraft and does not want to accept new aircraft from the European manufacturer Airbus until years later.
The eagerly awaited presentation of new products did not cause any enthusiasm at Apple. Hours before the event began, the anticipation that had prevailed at the beginning of the week had noticeably decreased. The introduction of the new iPhone 12 as the first Apple smartphone with super-fast 5G data transmission did not change anything: Most recently, the shares of the technology group lost over two and a half percent.
On the other hand, Walt Disney was able to convince investors: The fact that the entertainment company is adjusting its corporate structure in the midst of the Corona crisis in order to focus more on the booming streaming market in the future pushed the shares to the top of the Dow with a plus of more than three percent.
At Blackrock, the world‘s largest asset manager, a surprisingly high quarterly profit resulted in a price increase of almost four percent, bringing the share to a record high.
The euro slipped well below the mark of 1.18 US dollars – in New York trade, the common currency last cost 1.1747 dollars. The European Central Bank (ECB) had previously set the reference rate at 1.1787 (Monday: 1.1799) dollars and the dollar had thus cost 0.8484 (0.8475) euros. The futures contract for ten-year Treasuries (T-Note-Future) rose by 0.22 percent to 139.21 points. The yield on ten-year US bonds fell to 0.73 percent./gl/he
— By Gerold Löhle, dpa-AFX —