New York equities Outlook: Little movement – after a strong run, momentum runs out | 12/29/21

NEW YORK (awp international) – After a strong year, the US stock exchanges threaten to run out of momentum in the last few meters. Broker IG valued the Dow Jones Industrial on Wednesday an hour before the start of trading, almost unchanged at 36,400 points. The Nasdaq 100 is expected to gain 0.12 percent at 16,509 points.

Thanks to the latest recovery rally, the day before the leading index had approached the record high of November by up to around 40 points, but then only saved a modest profit at the finish line. The market-wide S&P 500 had even turned into the red after a new record and the Nasdaq 100 ultimately fell by half a percent.

The shares of the electric car maker Tesla could continue their recovery after the break the day before: They recently rose in price by 0.8 percent after the company boss and major shareholder Elon Musk had sold additional shares worth around one billion US dollars.

This brings Musk closer to his goal of reducing his stake by ten percent: With the latest sale, he has so far sold around 15.6 million shares valued at 16.4 billion dollars. To get to the 10 percent target, Musk would have to sell around 17 million shares.

Quidel’s shares rose by 0.7 percent after the company announced that its corona test kits could also be used to determine whether someone was infected with the new, particularly contagious Omikron variant. This is also on the rise in the USA.

In contrast, the renewed cancellation of hundreds of flights weighed somewhat on airline stocks. For Delta Air Lines and United Airlines, for example, it fell by 0.7 and 0.4 percent, respectively ./gl/jha/

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