NEW YORK (dpa-AFX) – The most important US stock exchanges presented themselves inconsistently in trading on Thursday. Current economic data signaled good news for the US economy, but they also increased investors’ concerns about inflation and interest rates. An initially more negative mood was partially offset by reports that US President Joe Biden would be satisfied with a corporate tax below 28 percent, the market said.
Two hours before the end, the Dow Jones Industrial (Dow Jones 30 Industrial) rose 0.09 percent to 34,632.68 points. The market-wide S&P 500, however, fell by 0.21 percent to 4199.17 meters. The technology-heavy NASDAQ 100 fell 0.80 percent to 13,566.27 points.
According to analyst Sophie Griffiths from broker Oanda, investors are worried about a surge in US economic data. The private job report of the service provider ADP, which sent strong signals for the official labor market report on Friday, has already been published. The highly regarded ISM purchasing managers’ index for the service sector was also strong.
According to the ADP report, the US private sector created nearly a million jobs in May, significantly more than experts expected. On the market it was said that this would increase the pressure on the US Federal Reserve, its previously extremely loose Monetary policy to restrict. In addition, international trade policy played a role again. It was pointed out that US President Joe Biden is considering a US ban on investments in companies related to the Chinese military.
Car values increased strongly. General Motors (GM) gained six percent and Ford (Ford Motor) even seven percent. GM was optimistic about the year as a whole and announced increasing deliveries to customers in the USA and Canada. Ford had increased sales in the United States by a good four percent in May.
Ciena (CIENA) jumped eight and a half percent after the release of quarterly figures. The network specialist had made more profit than experts had expected. In addition, the decline in sales was not as pronounced as feared on the market.
AMC, GameStop, Bed Bath & Beyond (Bed BathBeyond) and Blackberry, popular among investors connected via networks on the Internet, continued the sharp price fluctuations of the previous days. AMC recently gained 3 percent after a loss of 40 percent./he/fba
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