Börse Express – ROUNDUP/Aktien New York Conclusion: Investors do not take risks in front of bank numbers

NEW YORK (dpa-AFX) – Before the quarterly reports of the big money houses on Wall Street, the US stock exchanges weakened on Tuesday. The leading index Dow Jones Industrial had increased by a good one percent in early trading, but prices then fell off again. The rise in consumer prices, not quite as strong as feared, only provided temporary relief. In the end, the Dow closed 0.26 percent lower at 34,220.36 points.

In the coming days, the major investment banks will lay JPMorgan
Morgan Stanley Goldman Sachs
and Citigroup their quarterly reports. The expectations should not be too high: all four stocks fell on Tuesday and thus continued the weakness of the past week and months.

For the broader S&P 500 it went down by 0.34 percent to 4397.45 points. The tech-heavy Nasdaq 100 fell 0.36 percent to 13,940.24 points. It had recently suffered significantly more from rising US yields than the Dow and S&P 500.

High inflation had slowed the US stock exchanges recently. In March, US consumer prices in the less volatile core rate did not rise quite as much as feared. The key question now is whether inflation has peaked and, if so, at what rate it is falling, said Janus Henderson analyst Matt Peron.

Among individual stocks, shares in retailer Kohl’s rose more than five percent. According to an agency report, the retail holding company Franchise Group is considering an acquisition of Kohl’s. The purchase offer would value the company at nine billion US dollars. However, Hudson Bay Company has indicated in the past that it would also acquire Kohl’s at a higher price than Franchise Group.

The shares of Beyond Meat initially advanced by up to almost six percent, but then turned negative and ended almost one percent lower. In an interview with the CNBC television channel, a top manager of the manufacturer of meat substitutes announced that he wanted to boost the business with products made from alternatives to chicken meat.

In addition, analyst comments moved the courses: Citigroup predicted increasing competition in the software industry and therefore recommended Cisco for sale. The shares lost two percent at the end of the Dow. Morgan Stanley voted to sell Hewlett Packard Enterprise shares, causing the IT consultant’s stock to fall 2.5 percent.

The Euro fell to close at $1.0829 on Wall Street. The European Central Bank had fixed the reference rate at 1.0861 (Monday: 1.0900) dollars. The dollar had cost 0.9207 (0.9174) euros.

On the US bond market, government bonds benefited from the inflation data. The futures contract for trend-setting ten-year Treasuries (T-Note future) recovered by 0.59 percent to 120.45 points. The yield on ten-year government bonds fell accordingly to 2.72 percent./bek/he

— By Benjamin Krieger, dpa-AFX —

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0359 2022-04-12/22:20

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