Home » News » Börse Express – New York Stocks: Hardly any movement before the start of the reporting season

Börse Express – New York Stocks: Hardly any movement before the start of the reporting season

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NEW YORK (dpa-AFX) – Investors on Wall Street have put on hold after the losses at the beginning of the week. The main stock indices barely moved on Tuesday. Investors are already turning their attention to the imminent start of the companies’ reporting season. In the coming days, major banks in particular will present fresh quarterly figures.

Der Dow Jones Industrial traded slightly lower at 34,476.84 points. The S&P 500 gave way by 0.04 percent to 4359.55 points. For the tech-heavy Nasdaq 100
it was down 0.23 percent to 14,680.61 points.

Investors are torn between the prospect of rising corporate earnings in the wake of the macroeconomic recovery and inflation concerns on the other hand. The focus at the moment is particularly on oil prices, which are still quoting above 80 US dollars per barrel and thus close to multi-year highs. However, their recent strong increase has recently weakened again somewhat.

On both sides of the Atlantic, there are fears that the oil price rally could lead to energy bottlenecks and stifle the global economic recovery from the corona pandemic. Apart from that, China is also being looked at, because the world’s second largest economy has been taking stricter regulatory measures for some time, controls monopolies more closely and is probably expanding its reviews of the financial and banking system.

Nike stocks rose in the Dow by a good one percent after the US investment bank Goldman Sachs recommended the shares to be bought. Analyst Kate McShane referred, among other things, to the high liquidity of the sporting goods group, which should enable additional investments and capital returns to the shareholders. The shares hold further upside potential, especially after the recent price decline, it said.

The automaker General Motors (GM) reached an agreement with the Korean electronics company LG because of problems with his supplied batteries to billions in compensation. LG is paying for the costs related to the recall of fire endangered electric cars of the type Chevrolet Bolt EV and its SUV version due to manufacturing defects. GM papers rose by almost two percent.

American Airlines is expected to be in the black in the third quarter, among other things, given a recovery in ticket demand. The airline owes this to the state financial aid to secure jobs in the Corona crisis. The shares gained almost one percent./la/he

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0292 2021-10-12/19:52

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