On the market it was said that there was a lack of new tangible impulses to justify a further increase. At the beginning, the US stock exchanges would have understood the strength of the world stock exchanges on Monday when US trading paused on “George Washington Day”. It was said that ongoing vaccination campaigns and falling numbers of new infections were good for the economic perspective amid the corona pandemic, but not tangible enough to fuel the rally even further.
Other indices also hit record highs on Tuesday, but were unable to defend their gains. The S&P 500 ultimately lost 0.06 percent to 3932.59 points. The technology-heavy Nasdaq 100 was down 0.25 percent to 13,773.77 points.
On Tuesday, investors were once again focused on oil prices after the US WTI variety picked up on its most recent soaring. Partly because of the effects of the frosty weather in the USA, a barrel of the US WTI variety cost around 60 US dollars – a price close to the highest levels since the beginning of 2020. Oil stocks benefited from this: those of the industry giant ExxonMobil, for example, moved by three Percent on.
Otherwise, among other things, financial stocks were in demand, which was justified among stock market operators with inflation scenarios and the resulting rising market rates. This is considered to be beneficial for the day-to-day business of financial institutions. In the Dow, JPMorgan stocks rose 2.4 percent and Goldman Sachs stocks rose 1.8 percent.
The falling number of infections and the progress made with the vaccination campaign let investors in the US travel sector have access again. The shares of the major airlines American Airlines, United and Delta rose by up to four percent. Those of the cruise lines Royal Caribbean and Carnival even jumped up to almost ten percent.
The shares of the corona vaccine manufacturers rowed back after a good run, Biontech and Moderna each fell by almost three percent. A fourth corona vaccine could come onto the market in Europe in mid-March. After the USA, Johnson & Johnson has now also applied for approval there. The papers of the pharmaceutical company do not benefit from it, however, they fell by 0.9 percent.
On Tuesday, investors generally avoided papers from the health sector. The industry weakness also affected the shares of two pharmaceutical retail chains. Walgreens Boots Alliance, at the bottom of the list, lost 2.5 percent in the Dow, while those of competitor CVS Health in the S&P 500 even fell by five percent. The numbers presented by the company apparently did not help the course.
The focus was otherwise on small caps, including the 4.3 percent higher stake in the US auto supplier Borgwarner, which wants to take over the German battery manufacturer Akasol.
The shares of Palantir Technologies lost 12.8 percent, however, after the specialist for data analysis software surprised negatively with an expansion of its losses in the past fourth quarter. The shares that were listed on the stock exchange at the end of September and have performed well so far fell below the 50-day average for the first time. This is a popular trend indicator for chart-oriented investors.
One euro was last paid on Tuesday after a small uphill and downhill ride on 1.2107 US dollars. The European Central Bank (ECB) set the reference rate at 1.2143 (Monday: 1.2129) dollars. The dollar cost 0.8235 (0.8245) euros.
US Treasuries suffered losses. Stock marketers referred to scenarios of increasing inflation and the expectation of higher market interest rates. While the futures contract for ten-year Treasuries (T-Note-Future) lost 0.34 percent to 135.74 points, the yield on the ten-year bond rose to 1.306 percent./tih/he
— By Timo Hausdorf, dpa-AFX —
(AWP)
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