indexes in this article
NEW YORK (dpa-AFX) – After the climbing tour of the past few trading days, the US stock market threatens to fall back somewhat on Monday. In view of the forthcoming economic data, investors are likely to be more cautious at first.
About half an hour before the start of the stock market, broker IG assessed the Dow Jones Industrial (Dow Jones 30 Industrial) 0.4 percent lower to 32,728 points and the NASDAQ 100 0.5 in the red to 12,885 points.
Also thanks to a strong finish, the leading index closed on Friday with a weekly gain of three percent. For the historically rather weak month of July on the stock market, it recorded a premium of 6.7 percent, putting the strongest July in twelve years behind it. The technology-heavy selection index rose even more than the Dow on Friday and managed a monthly plus of a good twelve and a half percent.
Shortly after the start of trading, the purchasing manager indices of the financial service provider S&P Global and the Institute for Supply Management (ISM) for industry in July are on the agenda on Monday. According to Postbank experts, the latter “may have eased somewhat, but still point to slight growth, which would support corporate profits at the start of the third quarter”. There is also data on US construction investments in June.
The shares of the aircraft manufacturer Boeing increased by more than four percent before the market. According to circles, Boeing is about to resume deliveries of the long-haul jet 787 (Dreamliner). The group has received preliminary approval from the US Federal Aviation Administration, the Bloomberg news agency reported, citing people familiar with the matter. The agency approved Boeing’s plans to test and repair minor production defects.
This would remove a significant drag on shares in the Airbus (Airbus SE (ex EADS)) rival, according to Goldman analyst Noah Poponak, as it would free up significant cash inflows and dampen concerns about the capital structure.
Alibaba can at least hope for a breather after a two-day price slide, as the moderate pre-market increase in shares listed in New York showed. The Chinese Amazon competitor stated that it wanted to work with the US authorities to keep the previous listing on the New York Stock Exchange (NYSE) in addition to the new listing in Hong Kong. On Friday, the US Securities and Exchange Commission (SEC) put Alibaba on a list of companies threatened with delisting.
Celsius shares jumped about 10 percent to $97.95 after it was announced that soft drinks giant PepsiCo had acquired an 8.5 percent stake for $550 million, or $75 a share. The shares of the Coca Cola competitor lost 0.4 percent.
With a minus of 0.8 percent, Twitter titles were relatively unmoved by the news that tech billionaire Elon Musk submitted its response to the lawsuit brought by the short message service in the legal dispute over its withdrawn takeover bid. However, the document from Friday is not publicly available for the time being. Musk’s lawyers have a few days under court rules to release a version without confidential details./gl/jha/
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