New York (dpa) – The eagerly anticipated inflation data from the USA did not give a boost to the listings on Wall Street on Tuesday.
Consumer prices are not at a high level in August rose quite as much as expected. However, this only resulted in slight price gains in the first few minutes of trading. Then the leading index, the Dow Jones Industrial, turned into the red, widened the losses and fell to its lowest level in almost two months. In the end, the Dow had a discount of 0, 84 percent to 34. 577, 37 Points to book.
The broader S&P 500 lost 0, 57 percent to 4443,05 Counter. The technology-heavy Nasdaq 100 held up with a minus of 0, 33 Percent on 15. 382, 90 Points slightly better.
“The inflation rate fell marginally,” noted economist Bernd Krampen from Landesbank NordLB. The price drivers of the past few months such as used cars, hotel stays and flights have “experienced a certain normalization”. However, goods bottlenecks, delivery disruptions, port closings and the lack of containers kept price pressure high overall, which is likely to continue for some time passed on to the end consumer. This raises questions about profitability and has pushed share prices down during trading.
The quarterly figures of SAP counterparty Oracle were poorly received by investors. The analysts from JPMorgan criticized weak earnings in the business with software licenses, while Internet-based offers had increased strongly. Oracle shares lost almost three percent – after they had gained a good 37 percent since the beginning of the year.
Before the important Christmas business, Apple is giving its iPhones a faster chip and better cameras. However, the new products did not help the Apple share. The paper lost one percent in the weak overall market.
On the other hand, the reaction to a takeover in the software industry was positive: the US software group Intuit is taking over the email marketing service provider Mailchimp. Intuit is paying around 05 billion US dollars in cash and shares for the takeover of the private company. The Intuit papers gained two percent.
The casino operator industry came under heavy pressure. The government of the Chinese Macau Special Administrative Region wants to take a closer look at its business in the future, but initially did not provide any details. Macau is known as the Las Vegas of Asia. Shares in casino companies operating there such as Las Vegas Sands and Wynn Resorts fell by around ten percent each. MGM Resorts fell by almost four percent.
Among the smaller titles, Curevac lost eight percent. Due to lower demand for its corona vaccine candidate, the biotech company is downsizing its production network.
US Treasuries benefited from consumer prices. The futures contract for ten-year paper (T-Note-Future) rose by 0, 22 percent to 133,59 Points. The yield on ten-year papers fell accordingly to 1, 22 percent. The euro fell slightly in US trading; at the close of the US market, the common currency cost 1. 1806 US dollars. The European Central Bank (ECB) had previously set the reference rate at 1, 1814 (Monday: 1, 1780) dollar. The dollar had thus cost 0, 8465 (0, 8489) euros.