NEW YORK (dpa-AFX) – The US stock markets fell moderately on Thursday. Although the most important indices continued their losses from the past two days, one could not yet speak of a real deterioration in sentiment, said a stockbroker.
The best-known Wall Street index, the Dow Jones Industrial, fell 0.26 percent to 35,191.01 points in early trading. The market-wide S&P 500 fell by 0.32 percent to 4499.03 points. The technology-heavy selection index Nasdaq 100 lost 0.28 percent to 15,327.57 points.
Late Tuesday evening (CEST), the rating agency Fitch had withdrawn the coveted top rating for its creditworthiness from the USA. That had caused somewhat clearer losses on Wednesday. Investors are now turning their attention back to current economic data and the monthly job market report, which will be published on Friday.
Among the data published shortly after the start of trading, the deterioration in sentiment in the US service sector stood out. The consensus estimate was undershot, but the index is still above the expansion threshold, stated economist Ulrich Wortberg from Helaba. This leaves the picture intact, according to which the weakness in the manufacturing sector can be compensated for by the expansion in the service sector. Overall, however, the economic prospects are gloomy, which “encourages the US Federal Reserve not to commit to a further interest rate hike,” says Wortberg./ck/he
2023-08-03 14:34:25
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