New York (dpa) – The US stock exchanges increased their losses suffered at the beginning of the week on Tuesday. Just before the start of corporate reporting season, investors shied away from risk. In the coming days, major banks in particular will present fresh quarterly figures.
After a mixed start, the Dow Jones Industrial index ultimately fell by 0, 34 Percent on 34 378, 34 Points. The S&P 500 gave up by 0, 24 percent 4350, 65 points after. For the technology-heavy Nasdaq 100 it was 0, 35 percent up 14. 662, 11 Points down.
In general, investors are currently torn between the prospect of rising corporate earnings in the course of the macroeconomic recovery on the one hand and inflation concerns on the other. The focus is currently on oil prices in particular, which are still trading above 80 US dollars per barrel and thus close to multi-year highs. However, its recent strong increase has recently weakened again.
On this side and the other side of the Atlantic, it is feared that the oil price rally could lead to energy bottlenecks and stifle the global economic recovery from the corona pandemic. Apart from that, China is also being looked at, because the world’s second largest economy has been taking stricter regulatory action for some time, controls monopolies more closely and is probably expanding its reviews of the financial and banking system.
At the top of the Dow The shares of Nike rose by around two percent after the investment bank Goldman Sachs recommended the shares to be bought. Analyst Kate McShane referred, among other things, to the high liquidity of the sporting goods company, which should enable additional investments and capital returns to the shareholders. The shares hold further upside potential, especially after the recent price decline, it was said.
The car manufacturer General Motors (GM) had agreed with the Korean electronics company LG on a billions in compensation due to problems with its batteries. LG is paying for the costs related to the recall of fire-endangered electric cars of the Chevrolet Bolt EV type and its SUV version due to manufacturing defects. GM shares gained one and a half percent.
American Airlines is expected to be in the black in the third quarter, given a recovery in ticket demand, among other things. The airline also owes this to the state financial aid to secure jobs in the Corona crisis. The share certificates rose by 0.8 percent.
The euro remained under pressure and reached a 14 – Monthly low. While in the USA there is hardly anything standing in the way of a first step out of the extremely loose monetary policy of the central bank, there are still no indications of containing the flood of money in the euro zone. Most recently, the common currency was quoted at 1, 1530 US dollars. The European Central Bank had previously set the reference rate at 1. 1555 (Monday: 1. 1574) dollar. The dollar thus cost 0. 8654 (0, 8640) euros.
The futures contract for ten-year Treasuries (T-Note -Future) after the holiday on Monday from the rather gloomy international stock market sentiment and rose by 0, 26 percent to 131,19 Points. Ten-year bonds yielded 1. 57 percent and thus slightly below their recently marked five-month high of 1. 63 percent.