In contrast, the Nasdaq 100 ultimately lost 0.14 percent to 12,780.51 points. This reversed the signs from early trading.
In the Dow, Nike was at the bottom with a price loss of 3.4 percent. After EU sanctions were imposed on China, foreign companies came under fire there. Initially, the Chinese state media sharply criticized Hennes & Mauritz (H&M), then sports brands such as Nike and Adidas were punished by a party-affiliated newspaper.
H&M announced last year that it no longer wanted to purchase cotton from the Chinese region of Xinjiang after reports that the Muslim Uyghur minority was doing forced labor there. At that time there was still no sharp reaction from China. That has now changed after the EU imposed sanctions on China for the first time in more than three decades on Monday.
Meanwhile, Boeing titles at the top of the Dow were up 3.3 percent. The aircraft manufacturer wants to deliver its Jet 787 Dreamliner for the first time this week after a five-month dry spell, reported the financial news agency Bloomberg, citing insiders. In the delivery pause forced by technical problems, more than 80 aircraft of this type were last on the dump.
Otherwise moving business figures. The pharmacy and drugstore chain Rite Aid reported surprisingly weak quarterly results, as the corona-related lockdown measures led to a decline in sales of cold medicines. The papers lost a good fifth of their value.
Shares in the restaurant chain operator Darden, on the other hand, achieved an increase of over eight percent thanks to numbers that were better than expected. The adhesives manufacturer HB Fuller impressed with a surprisingly high operating profit target (Ebitda) for the current year – the papers advanced by around four and a half percent.
Cisco Systems shares rose 1.7 percent after Goldman Sachs recommended them to buy. With a restart of the US economy after the corona pandemic, companies should invest more in network technology again, argued the investment bank.
The euro continued its downtrend and slipped below $ 1.18 for the first time since November – in New York trade, the last $ 1.1763 was paid. Before that, the European Central Bank (ECB) set the reference rate at 1.1802 (Wednesday: 1.1825) dollars and the dollar cost 0.8473 (0.8456) euros.
US Treasuries turned into the red after early gains: The futures contract for ten-year Treasuries (T-Note Future) turned into the red and most recently lost 0.0 percent to 132.07 points. In return, the yield on ten-year government bonds rose to 1.63 percent./gl/he
— By Gerold Löhle, dpa-AFX —
(AWP)
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