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Dow Jones and Nasdaq End Week on a Mixed Note Amidst Consumer Concerns and Bond Market Volatility

by Chief editor of world-today-news.com May 13, 2023

written by Chief editor of world-today-news.com

NEW YORK (dpa-AFX) – At the end of a sluggish week, the Dow Jones Industrial made up for the losses it had made over the course of Friday. Thanks to a final spurt, the leading index closed almost unchanged at minus 0.03 percent to 33,300.62 points. On a weekly basis, it lost 1.1 percent.

The Nasdaq 100 on Friday fell 0.37 percent to 13,340.18 points from its recent highest level since August 2022. However, the technology-heavy index still managed a weekly plus of 0.6 percent. The market-wide S&P 500
closed 0.16 percent weaker on Friday at 4124.08 points.

Sentiment deteriorated among US consumers. The consumer climate for May surveyed by the University of Michigan fell more sharply than economists had expected. Consumers’ longer-term inflation expectations over a five- to ten-year horizon also rose, while economists predicted a slight decline here.

As a result, yields on the bond market rose. The rate for ten-year papers was 3.46 percent. The futures contract for ten-year bonds (T-Note Future) lost 0.54 percent to 115.42 points.

Consumers’ economic concerns have increased sharply, said Joanne Hsu, head of the consumer sentiment survey. She also referred to the argument in Congress about raising the debt ceiling. If this is not raised, according to estimates by the independent budget office of the US Congress, the government in Washington is threatened with a payment default in the first two weeks of June.

In the worst conceivable case, the financial markets are threatened with collapse, wrote analyst Christian Henke from broker IG. But both the Democrats and the Republicans would probably avoid a default and turmoil on the capital markets at the latest five to twelve, the expert believes.

Bei Tesla investors had to weigh positive and negative news before the weekend. The electric car manufacturer had increased prices for the third time this month. However, the news of a recall of 1.1 million vehicles in China due to defective brakes did not go down well.

Tesla CEO Elon Musk was also in focus with messages from the short message service Twitter, which he also leads. After a chaotic six months, he puts the top post at Twitter in the hands of advertising expert Linda Yaccarino, who most recently managed the advertising business at the media group NBCUniversal. Tesla shares quickly gave up their opening gains on Friday, down 2.4 percent at the close.

The papers of the IT group IBM settled in the Dow
to the top with a gain of 1.6 percent. On the other hand, shares in the sporting goods manufacturer Nike closed 1.6 percent down which ended up in last place in the leading index.

The Euro slipped to its lowest level in over a month at $1.0849. After the US market close, the shared currency traded just above at $1.0851. The European Central Bank (ECB) had set the reference rate on Friday at 1.0892 (Thursday: 1.0930) dollars, the dollar thus cost 0.9181 (0.9149) euros./ajx/zb

— By Achim Jüngling, dpa-AFX —

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0344 2023-05-12/22:34

2023-05-12 20:34:00

#ROUNDUPAktien #York #Conclusion #Dow #final #sprint #Nasdaq #weaker

May 13, 2023 0 comments

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US Markets Rise Thanks to Positive Quarterly Reports but Fed Calls for Banking Regulation Changes

by Chief editor of world-today-news.com April 29, 2023

written by Chief editor of world-today-news.com

NEW YORK (dpa-AFX) – The US stock markets rose on Friday thanks to the mostly positive quarterly reports from US companies. However, there were also some clear downward outliers in the individual values. Buying sentiment dampened concerns about inflation and the potential impact on regional banks following the collapse of Silicon Valley Bank. Officials at the US Federal Reserve are therefore now calling for far-reaching changes to banking regulations.

Der Dow Jones Industrial rose in early trading for the first time in ten days above the 34,000 point mark and was last listed 0.59 percent higher at 34,0124.83 points. This indicates a weekly gain of around 0.6 percent for the leading US index. In the trading month of April, the Dow recorded a plus of around 2.2 percent. The market-wide S&P 500 gained 0.61 percent on Friday to 4060.60 points. The Nasdaq 100
increased by 0.29 percent to 13198.82 points.

Investors are nervous about uncertainty over possible further rate hikes by the Fed after fresh inflation data on Friday raised the likelihood of a hike next week and possibly in June, the market said. Labor costs increased more than expected in the first quarter. The better-than-expected Chicago Purchasing Managers’ Index for April provided slightly positive impetus.

Ahead of the weekend, a few corporate heavyweights offered a peek at the books, with mixed price reactions. Intel stock jumped 4.7 percent as the clear Dow leader. The manufacturer of semiconductors and data centers posted a slump in sales and billions in losses in the first quarter, but analysts had expected worse.

The papers from Amazon lost 3.5 percent after the quarterly report. The online retailer started the new financial year with a surprisingly significant increase in sales. Expectations were also exceeded in terms of earnings. However, management’s conference call brought the uncomfortable realization that the cloud business saw only weakened growth in April. For Amazon, the cloud division is a key profit driver because of its high profit margins.

Snap shares fell by more than 18 percent. At the company known for the photo app Snapchat, sales fell by seven percent in the past quarter. Previously, the service had been known for explosive growth.

The two oil and gas giants Exxon Mobil and chevrons
earned more in the first quarter than analysts had expected on average. While Exxon was up 1.9 percent, Chevron was up 0.8 percent.

The consumer goods group Colgate-Palmolive made a robust start to the new year. Sales grew by 8.5 percent in the first quarter. However, high material costs weighed on the result. However, it was apparently good enough for investors, with shares rising 3.3 percent.

T-Mobile US lost 3.6 percent. The US subsidiary of Deutsche Telekom did not grow as strongly as expected in service revenue at the beginning of the year and even posted a decline in revenue overall.

The papers of the First Republic Bank have since suspended trading after falling more than 50 percent to a record low. It had previously been reported that receivership was the most likely scenario for the regional bank. Most recently, the shares were still 40 percent lower./edh/he

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AXC0357 2023-04-28/20:19

2023-04-28 18:19:00

#Equities #York #Investors #reward #good #company #figures

April 29, 2023 0 comments

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US Stock Markets Show Little Movement Amid Lack of Impulses

by Chief editor of world-today-news.com April 21, 2023

written by Chief editor of world-today-news.com

NEW YORK (dpa-AFX) – The US stock markets presented little movement on Friday due to a lack of impulses. The Dow Jones Industrial
gained 0.05 percent to 33,802.44 points, but is heading for a narrow weekly minus. For the market-wide S&P 500 was down 0.02 percent to 4128.86 points, while the tech-heavy select index Nasdaq 100
fell by 0.14 percent to 12,967.53 points.

Neither the lack of company news nor the better-than-expected US purchasing managers’ indices for manufacturing and services in April had a noticeable impact on prices.

The stock exchanges are currently caught between mixed company figures and the search for indications of inflation prospects, economic growth and the monetary policy course of the US Federal Reserve, according to the market. Most recently, Federal Reserve Bank of Cleveland President Loretta Mester signaled support for another rate hike to curb inflation. Her Dallas counterpart, Lorie Logan, said inflation was “way too high” and spoke of measures to watch.

At the consumer goods company Procter & Gamble Quarterly figures that were better than expected and an increased sales outlook ensured a price increase of 3.6 percent. The company benefited from raising prices and enjoying a favorable product mix.

The shares of the oil field service provider Schlumberger
lost 3.3 percent. The group reported an increase in profits for its first quarter and exceeded analysts’ estimates. However, investors apparently expected more./gl/he

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0196 2023-04-21/16:50

April 21, 2023 0 comments

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Closing Roundup: Dow Finishes Strong Trading Week with Notable Gains in New York Stocks

by Chief editor of world-today-news.com April 1, 2023

written by Chief editor of world-today-news.com

NEW YORK (dpa-AFX) – At the end of a good week on the stock market, prices on the US stock markets rose again. Relief prevailed among investors on Friday in view of the new inflation data. The PCE price index, which is preferred by the US Federal Reserve, did not rise quite as much in February as analysts had expected. The Dow Jones Industrial increased by 1.26 percent to 33,274.15 points and surpassed the 33,000 mark for the first time in three weeks. Since the beginning of the year, the Dow has been moderately up again.

The market-wide S&P 500 gained 1.44 percent to 4109.31 points. That meant the highest level since mid-February. For the tech-heavy Nasdaq 100 it went up a little more by 1.68 percent to 13,181.35 points – even to the highest level since August 2022.

On a weekly basis, the leading index Dow posted an increase of a good three percent. “If we end the week in the green that’s a big deal given how disastrous the rest of the month has been,” analyst Craig Erlam of brokerage Oanda wrote ahead of the start of trading, primarily in view of the recent problems in the banking sector . The difficulties of several US regional banks triggered a sell-off in the industry in the first half of the month, which had a negative impact on the overall market.

Looking at the individual values, two lightweights attracted interest on Friday. Papers from Virgin Orbit
fell by more than 40 percent. After a failed satellite launch earlier this year, British billionaire Richard Branson’s space company is laying off most of its employees. The stock fell below $1 in mid-March, making it a penny stock. The company is now worth just under $70 million on the stock exchange. At the beginning of 2022, the company was worth $3.8 billion.

Shares of Nikola fell by more than 14 percent. The developer of battery and hydrogen-powered commercial vehicles has increased capital by $100 million. The new shares were placed at $1.12 per share, well below the previous day’s closing price of $1.40, disappointing the market.

The biggest losers in the Nasdaq 100 index were Micron Technology
, which fell 4.4 percent. In the dispute with the USA over semiconductors, China now wants to take a close look at the company’s products in terms of cyber security.

In New York currency trading on Friday, the euro ended recent gains and fell. Most recently, the euro cost 1.0845 US dollars. The European Central Bank had set the reference rate at 1.0875 (Thursday: 1.0886) dollars. The dollar had thus cost 0.9195 (0.9186) euros.

In government bond trading, prices rose before the weekend. The futures contract for ten-year bonds (T-Note Future) gained 0.38 percent to 115.02 points. The yield on ten-year government bonds fell accordingly to 3.48 percent./bek/he

— By Benjamin Krieger, dpa-AFX —

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0355 2023-03-31/22:18

April 1, 2023 0 comments

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Investors Remain Concerned About Banking Crisis in Equities Market, New York

by Chief editor of world-today-news.com March 17, 2023

written by Chief editor of world-today-news.com

NEW YORK (dpa-AFX) – The recovery in the Dow Jones Industrial
from Thursday, losses will follow at the end of the week. The pre-market price fluctuations had already shown how unsettled investors remain despite all the measures taken to contain the crisis in the US regional banks. In addition, there is the long expiry date on the futures exchanges, which often causes prices to fidget.

The leading index Dow Jones Industrial fell a good half a percent to 32,029.18 points in early trade on Friday, and for the market-wide S&P 500 it was down 0.38 percent to 3945.29

points down. The Nasdaq 100 held up on the Nasdaq technology exchange better. It fluctuated around its previous day’s close and was last listed 0.11 percent up at 12,595.43 points.

In a “historic step,” as JPMorgan calls it, the troubled First Republic Bank had received support worth billions from the largest American financial institutions. The hesitant stabilization of the First Republic Bank papers of the previous days was dampened again on Friday. Your price dropped by a fifth. At a good $27, this is still well above Monday’s low of $17.53. SVB Financial, the parent company of Silicon Valley Bank – the cause of the current crisis – has meanwhile applied for bankruptcy protection under “Chapter 11” of US bankruptcy law.

Investors are eagerly awaiting how the US Federal Reserve will react to the crisis in the coming week. The day before, the monetary watchdogs in Europe had not been dissuaded from their anti-inflation course and had raised the key interest rate again significantly. Meanwhile, the experts at Credit Suisse expect the Fed to take a “restrictive pause”. The turnaround in interest rates will be briefly suspended, but further steps will be signaled – so their theory.

Financial stocks recorded larger losses. The shares of the big banks JPMorgan and Goldman Sachs
fell by around two and a half percent on the last places in the Dow Jones.

On the papers of the US pharmaceutical company Merck & Co
was weighed down by a study setback for a lung cancer drug. The shares lost around one percent.

Among the other individual values were the papers of Deutsche Post competitor Fedex by a good 8 percent. The group raised its forecasts and also signaled cost reductions in order to counter low parcel volumes.

The steel company US Steel also impressed with his business prospects. The papers gained 1.75 percent.

And analysts also moved the courses. The shares of the entertainment company Warner Bros. Discovery up 1.6 percent, according to recommendations from Wolfe Research and Wells Fargo./mis/tih

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AXC0199 2023-03-17/15:07

March 17, 2023 0 comments

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Börse Express – New York shares: Investors avoid shares in view of high market interest rates

by Chief editor of world-today-news.com March 1, 2023

written by Chief editor of world-today-news.com

NEW YORK (dpa-AFX) – In view of persistently high interest rates on the capital markets, investors on the US stock exchanges held back on Wednesday. The Dow Jones Industrial
was 0.11 percent weaker at 32,621.35 points. In the first few minutes of trading, the index fell to its lowest level since November. Above all, the price gains of classic industrial stocks such as Caterpillar saved the Dow from higher losses
3M und Dow Inc .

The yield on ten-year US government bonds rose above the four percent mark for the first time in almost four months. That’s twice the average dividend yield of the 500 companies in the S&P 500 stock index, wrote Seema Shah, strategist at Principal Asset Management. In this environment, investors preferred to play it safe and into government bonds.

The S&P 500 fell by 0.45 percent to 3952.17 points. The tech-heavy Nasdaq 100 was down 0.75 percent at 11,951.54 points.

The share price of the pharmaceutical company Novavax slumped by more than a quarter after the group announced a surprisingly high quarterly loss. Sales development was also disappointing. In addition, Novavax sees great uncertainty regarding the sales prospects for 2023 and is considering a significant reduction in its expenses.

The shares of the electric car manufacturer Rivian suffered a price slide of almost 19 percent . Weak figures and a disappointing outlook also had a negative impact here. The shares of the big competitor Tesla lost two percent in the Rivian fairway.

In contrast, the solar group First Solar inspire investors with a surprisingly good earnings outlook, as the price increase of 15 percent shows. Disappointing sales from retailer Kohl’s in the fourth quarter of 2022 pushed the price down by almost four percent.

Among the smaller stocks, shares of Reata Pharma soared
up by 175 percent. The US health authority FDA has given the green light to the company’s drug for a rare disease of the central nervous system

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0361 2023-03-01/20:05

March 1, 2023 0 comments

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