NEW YORK (awp international) – Investors on Wall Street lost their initial courage on Monday. The most important stock indices lost their moderate gains in the course of trading and were recently listed slightly in the red. There are still concerns that the ongoing oil price rally could lead to energy bottlenecks and stifle the global economic recovery from the corona pandemic.
The US leading index Dow Jones Industrial recently fell 0.21 percent to 34,672.82 points. The S&P 500 fell 0.24 percent to 4380.76 points. For the technology-heavy Nasdaq 100, it fell 0.18 percent to 14,793.77 points.
Overall, however, the movements on Wall Street were limited on Monday. The reason is the holiday “Columbus Day”. Therefore, there is no trading on the bond market at the beginning of the week.
With a view to the individual values, companies from the energy and oil sectors were particularly in demand due to the current raw materials bull market. Among the best titles in the S&P 500, Schlumberger, Halliburton, Freeport-McMoran and Enphase Energy rose by more than two to almost six percent.
A major price driver on the oil market is the strained supply situation in the energy sector as a whole. Because the prices for gas and coal have risen sharply in recent months, oil is increasingly being considered as an alternative for generating electricity. This is also driving oil prices up strongly.
In contrast, the shares of Southwest Airlines lost around three percent. The airline had to cancel 1,800 flights over the weekend due to bad weather and staff shortages – this corresponded to at least 30 percent of all scheduled flights of the airline.
The automotive supplier Aptiv, like many competitors, is meanwhile suffering from the general shortage of semiconductors in the industry. As a result, the company had to revise its sales forecast downwards. The shares recently lost more than one percent.
Hasbro’s papers were also down by a good one percent. The toy manufacturer’s share certificates apparently suffered from the fact that company boss Brian Goldner is now taking a break for health reasons./la/he
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