NEW YORK (awp international) – The start of the week on Wall Street has been tough. On Monday, the Dow Jones Industrial was only able to significantly expand its gains made at the end of last week in early trading before losing momentum. Thanks to a jump in the share price of Boeing’s shares, there was at least a minimal increase to 36 120.51 recently.
Robust economic data also proved to be a support: The industrial mood in New York brightened significantly. The rise in the so-called Empire State Indicator was also stronger than expected.
The market-wide S&P 500 hardly moved at 4681.92 points. The technology-heavy Nasdaq 100 was down 0.34 percent to 16 144.86 points. Another slump in the price of Tesla’s paper caused a gloomy mood.
The spectacular Twitter vote by Tesla boss Elon Musk about the sale of own shares is putting increasing pressure on the electric car maker’s share price. In addition, Tesla now had to leave the club of the trillion dollar corporations. Most recently, the title slipped as one of the weakest values in the Nasdaq 100 by four and a half percent.
On Saturday, November 6th, Elon Musk announced that he would let Twitter users vote on whether he should sell a tenth of his stake in the electric car manufacturer for higher tax payments. As by far the richest person in the world, the 50-year-old has recently been increasingly confronted with demands to contribute more to solving the world’s problems and to pay more taxes. After 58 percent of Twitter users wanted a sale, Musk took several steps to monetize Tesla shares. As can now be seen, this was apparently not done in a way that was gentle on the share price.
At the top of the Nasdaq 100, Dollar Tree’s shares soared by a good 14 percent after reaching a record high in the course of trading. Here a report by the “Wall Street Journal” caused euphoria. According to the paper, the activist investor Paul Hilal holds shares in the cheap trading chain worth at least 1.8 billion US dollars through his investment company Mantle Ridge, making it one of the two largest shareholders.
Boeing stocks were the single favorite in the Dow, up more than five percent. At the air show in Dubai, the aircraft manufacturer was optimistic that it would be able to secure important orders from China. / La
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