NEW YORK (dpa-AFX) – The euphoria in early trading on the New York stock market then fizzled out on Thursday. At the end of the day, the most important indices were in the red. The leading index Dow Jones Industrial (Dow Jones 30 Industrial) lost 0.67 percent to 35,282.72 points. The market-wide S&P 500 fell by 0.64 percent to 4537.41 points.
Thanks to significant price gains in semiconductor papers and shares in the Facebook group Meta (Meta Platforms (ex Facebook)), the discount in the technology sector was less pronounced: the NASDAQ 100 selection index closed 0.22 percent weaker at 15,464.93 points.
Yields on the bond market increased more significantly again, with ten-year US government bonds rising to 4 percent. In contrast, the futures contract for ten-year government bonds (T-Note Future) fell by 0.96 percent to 111.06 points.
The reporting season and a series of strong US economic data set the tone. Although the Fed reserves the right to raise interest rates further depending on economic developments, there are increasing calls that the cycle of interest rate hikes may have come to an end.
Meta (Meta Platforms (ex Facebook)) had reported that the advertising business was significantly better again and provided a positive surprise with the sales outlook for the current quarter. The shares reached their highest level since February 2022, at the end of trading the price gain was still 4.4 percent.
Semiconductor stocks posted strong premiums. South Korean electronics group Samsung expects chip demand to gradually recover in the second half of the year. The prospect was well received on the stock exchange. Lam Research jumped 9.3 percent. Micron Technology, KLA Corp and Applied Materials each gained more than five percent.
McDonald’s (McDonalds) increased by 1.2 percent. The fast-food chain’s revenues were higher than expected thanks to price increases.
A disappointing earnings forecast for the current quarter caused the shares of the online auction platform eBay to collapse by 10.5 percent.
Southwest Airlines shares fell 8.9 percent after the airline reported higher-than-expected fuel costs and warned of rising costs in general.
At the pharmaceutical company Bristol-Myers Squibb, a lowered earnings outlook, which is now below analysts’ expectations, caused a bad mood: the shares fell by 4.2 percent.
The euro fell significantly on Thursday following monetary policy decisions by the European Central Bank (ECB). After the Wall Street close, the common currency was trading at $1.0971. The ECB had set the reference rate at 1.1125 (Wednesday: 1.1059) dollars, the dollar thus cost 0.8989 (0.9042) euros./ajx/he
— By Achim Jüngling, dpa-AFX —
2023-07-27 20:33:38
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