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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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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

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AXC0361 2023-03-01/20:05

March 1, 2023 0 comments

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Börse Express – New York shares: week of central banks and tech giants begins moderately

by Chief editor of world-today-news.com January 30, 2023

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

NEW YORK (dpa-AFX) – The recently friendly US stock markets started an eventful week on Monday. On the Nasdaq stock exchange in particular, caution dominated the business figures of several tech giants due from Wednesday, so that the selection index Nasdaq 100 lost 0.79 percent to 12,069.95 points in the first hour of trading.

But investors also held back on the New York Stock Exchange (Nyse), which is characterized by more traditional sectors, as from the middle of the week, in addition to the reports from Meta Amazon
Alphabet and Apple
the interest rate decision by the US Federal Reserve, the European Central Bank (ECB) and the Bank of England (BoE) are also expected. While the leading index Dow Jones Industrial after a cautious start, turned positive and gained 0.19 percent to 34,042.02 points, remained the market-wide S&P 500 a price drop of 0.23 percent to 4061.10 points./gl/jha/

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0226 2023-01-30/16:19

January 30, 2023 0 comments

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Börse Express – ROUNDUP/Aktien New York: Investors continue to cash in

by Chief editor of world-today-news.com January 19, 2023

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

NEW YORK (dpa-AFX) – Driven by renewed fears of recession, investors on the US stock markets also took profits on Thursday. The Dow Jones Industrial
recently fell by 0.70 percent to 33,063.25 points. The market-wide S&P 500 lost 0.79 percent to 3897.81 points and the tech-heavy Nasdaq 100
lost 0.88 percent to 11,310.00 points.

US economic data initially had little impact on listings. According to the Philly Fed Index, business confidence in the US region of Philadelphia improved more than expected in January but still signaled a slowdown in economic activity. Meanwhile, the number of weekly initial jobless claims surprisingly fell again – analysts, however, had expected an increase. The US housing market continues to be weak: in December, both the number of new buildings started and the number of permits for new houses continued to fall.

Disappointing quarterly earnings weighed on Alcoa shares
down 3.1 percent. The aluminum maker reported a net loss and announced that year-to-date sales are expected to fall short of original plans amid uncertainties surrounding global inflation, slowing demand from Europe and the weak economic outlook in China.

The consumer goods company Procter & Gamble was also unable to convince investors with its interim report on the past quarter, as the price drop of 1.8 percent shows. For fiscal year 2022/23, the company raised the lower end of its revenue target range. In terms of earnings per share, management continues to assume that the lower end of the forecast range will be reached.

At the electric car manufacturer Tesla After the minus on the previous day, investors had to accept a further price loss of 1.0 percent. In the trial of investor fraud allegations against company boss Elon Musk, a lawyer for the tech billionaire admitted incorrect information in Musk’s momentous tweets in the summer of 2018. However, this was just an unfortunate choice of words under time pressure and not an attempt at fraud, he emphasized.

Charles Schwab’s stocks continued their slide from Wednesday, falling another 5.8 percent. Bank of America analysts had previously downgraded the shares by two notches from “buy” to “underperform”. The day before, the financial services provider had released quarterly figures that fell short of analysts’ average estimates. /edh/mis

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0245 2023-01-19/16:52

January 19, 2023 0 comments

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Börse Express – ROUNDUP/Aktien New York Conclusion: Dow makes it into the plus

by Chief editor of world-today-news.com January 14, 2023

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

NEW YORK (dpa-AFX) – After a long lethargic trading session, the prices still gained momentum on Friday. The leading index Dow Jones Industrial made it to another high since mid-December in late trade. In particular, the shares of large banks increased according to quarterly reports from the industry. At the closing bell, the Dow gained a moderate 0.33 percent to 34,302.61 points. On a weekly basis, he brought it up by 2 percent, which was the best stock market week in two months.

Looking back on the trading week, analyst Stephen Innes of SPI Asset Management wrote that investors had been betting on stronger growth in Europe and China and a easing in inflation in the USA. A slackening of inflation will allow the US Federal Reserve to slow down the pace of interest rate hikes in the coming months.

The market-wide S&P 500 rose by 0.40 percent to 3999.09 points. The tech-heavy Nasdaq 100
increased more strongly with plus 0.71 percent to 11,541.48 points.

The prices of large banks, which had already published their quarterly reports before the starting bell, turned around astonishingly. JPMorgan die Citigroup die
Bank of America and Wells Fargo
kicked off the season of quarterly numbers ahead of the weekend. If prices came under pressure in early trading, they turned back into the profit zone later on.

Most impressive was the turnaround in Wells Fargo stock. In the first few minutes of trading, the papers of the money house fell by 5.5 percent, but in the end they were up 3.3 percent. Similar, albeit less strong, were price patterns from Citigroup, Bank of America and JPMorgan. The latter even led the winners in the Dow with a premium of 2.5 percent. In the final quarter of 2022, the financial institutions exceeded market profit expectations.

Stockbrokers rated the quarterly figures from Delta Air Lines as disappointing , the price of which fell by 3.5 percent. Above all, higher costs were criticized here. According to UnitedHealth’s quarterly report the papers of the health insurer lost 1.2 percent.

Tesla stocks fell by almost one percent. The US electric car pioneer is now apparently also reducing the prices for its vehicle models in Europe due to sluggish demand and tough competition. Tesla had already reduced prices in the USA the day before, and a few days ago in the important Chinese market. Ford shares were hit even harder and General Motors
with minus 5.3 and minus 4.8 percent respectively.

A sell recommendation from Goldman Sachs weighed on shares in the armaments group Lockheed Martin , they lost 2.6 percent to almost 450 dollars. At the beginning of December, the paper had risen to a record high of almost $500.

Virgin Galactic shares soared more than 12 percent. Previously, the provider of flights for space tourists had promised to start commercial space operations in the second quarter of 2023.

The Euro was down a bit after the recent rally to trade at $1.0832 in late US FX trading. The European Central Bank had previously set the reference rate at $1.0814. The dollar had thus cost 0.9247 euros. Quotations on the bond market fell, the futures contract for ten-year bonds (T-Note Future) lost 0.38 percent to 114.80 points. In return, the yield on ten-year government bonds rose to 3.50 percent

— By Benjamin Krieger, dpa-AFX —

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0298 2023-01-13/22:20

January 14, 2023 0 comments

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Börse Express – Equity Outlook New York: moderate opening earnings expected

by Chief editor of world-today-news.com January 11, 2023

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

NEW YORK (dpa-AFX) – US stock markets are expected to continue their upward trend from the day before Wednesday’s open. The upside momentum continues to partly reflect ongoing optimism about China’s reopening, which partly offsets concerns about the global economic outlook, trade sources said. In the case of technology stocks, the bargain hunt may continue after significant losses a year earlier.

If not, investors should already be looking ahead to Thursday’s US inflation data. According to experts, consumer prices for December should signal a further decline in inflation, which would support the hypothesis of less aggressive rate hikes. Broker IG has valued the Dow Jones Industrial
three-quarters of an hour before the start, 0.3 percent higher at 33,802 points. The high-tech Nasdaq 100
a plus of 0.3 percent is also expected.

Shares of US airlines reacted to the failure of a pilot signaling system operated by the Federal Aviation Administration, which temporarily paralyzed all domestic air traffic, with moderate losses ahead of the market. Documents of American Airlines recently lost 0.6 percent, those of United Airlines 0.4% and by Delta Air Lines 0.2 percent.

Apple shares they rose 0.2% in pre-market trading. According to insiders, the iPhone maker wants to install its own displays in its mobile devices for the first time since 2024. The company wants to move away from suppliers like Samsung and LG more independent, the Bloomberg news agency reported, citing people familiar with the matter.

Vaccine maker Curevac stocks they were up another 6% pre-market after nearly doubling in value over the past three trading days. The demonstration was triggered by an interim report on the flu vaccination program of the Tübingen company.

The Bed Bath & Beyond cards it rose 27 percent according to the Home Decorator’s Quarterly data. For shareholders, this should still be a drop in the ocean, as shares were down 95% from last year’s summer high.

Shares of World Wrestling Entertainment gained 4.2% before market after two wrestling journalists tweeted that Saudi Arabia’s Public Investment Fund is looking to buy the company. However, this has not yet been confirmed anywhere./edh/jha/

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0201 2023-01-11/14:57

January 11, 2023 0 comments

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