NEW YORK (awp international) – The Dow Jones Industrial paid tribute to its latest record hunt on Tuesday. Analyst Craig Erlam from broker Oanda saw the reason in particular that the number of corona infections is rising significantly worldwide. A series of mixed company news and economic data also weighed on the US benchmark index, which after initially more significant losses ultimately fell by 0.56 percent to 29,783.35 points. On Monday it exceeded its all-week high, but failed to break the round mark of 30,000 points.
The market-wide S&P 500 was down 0.48 percent on Tuesday to 3609.53 points. In contrast, the technology-heavy Nasdaq 100, which lagged behind the other indices the day before, held up better this time with a minus of 0.30 percent to 11,977.49 points.
In the individual values, Tesla stood out with a price jump of over eight percent, which earned the electric car manufacturer the top spot in the Nasdaq 100. The day before, the index provider S&P announced that the electric car manufacturer will be represented in the S&P 500 from December 21st.
The shares of Amazon gained 0.15 percent after the online retailer announced that customers in the United States could order prescription drugs via the new service “Amazon Pharmacy”. The price swings at the large US drugstore and pharmacy chains, whose businesses could suffer as a result, were all the more violent. The shares of Walgreens Boots Alliance at the end of the Dow fell by almost ten percent, and the papers of CVS Health lost over eight and a half percent. Rite Aid shares lost more than 16 percent.
News from the retail industry was received very differently by investors. The shares of Home Depot lost a good two and a half percent despite better than expected results from the hardware store chain – but recently they were not too far below their record high marked at the end of August. A similar pattern emerged at the supermarket chain Walmart: After the shares had risen to a record high the previous day, they now fell by two percent despite surprisingly good numbers. In contrast, investors rewarded Kohl’s figures with a price gain of around eleven and a half percent. At Costco Wholesales, the announced special dividend resulted in a price increase of a good half a percent.
For the shares of T-Mobile US it went up 0.3 percent. According to a notice to the Securities and Exchange Commission from the previous day, the investment company Berkshire Hathaway of star investor Warren Buffett stocked up on papers of the wireless company worth around $ 276 million in the past quarter.
Thanks to increasing signals that there might still be a trade agreement between the EU and Great Britain after Brexit, the euro continued its upward trend: In New York trade, the common currency last cost 1.1864 dollars. The European Central Bank (ECB) had set the reference rate at 1.1882 (Monday: 1.1830) dollars and the dollar cost 0.8416 (0.8453) euros. The pound sterling also continued to rise on Tuesday.
US Treasuries benefited from the subdued sentiment on Wall Street: The futures contract for ten-year Treasuries (T-Note Future) rose 0.22 percent to 138.32 points. The yield on the ten-year bond fell accordingly to 0.87 percent./gl/he
— By Gerold Löhle, dpa-AFX —
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