NEW YORK (awp international) – The price recovery from the previous day on Wall Street fizzled out a day later. The Dow Jones Industrial fell 0.48 percent to 34,647 points on Thursday. Even strong retail figures in August and a surprisingly good leading indicator from the Philadelphia region failed to support prices. The market-wide S&P 500 was 0.50 percent in the red with 4458 meters.
Good economic data are currently not necessarily positive from the point of view of equity investors. Because they could induce the US Federal Reserve to tighten the monetary reins sooner rather than later by curbing the billion dollar securities purchases. Yields in US bond trading rose after the good economic data.
Rising capital market rates tend to be a burden for the technology sector. On the one hand, the financing costs of tech companies are becoming more expensive, and on the other, their customers often cut back their IT investments in phases of rising interest rates.
On the technology-heavy Nasdaq stock exchange, the losses outweighed: The selection index Nasdaq 100 fell by 0.46 percent to 15,432 points. The courses of companies from the semiconductor industry such as Broadcom, Texas Instruments, Xilinx and Intel came under pressure.
The papers of the network specialist Cisco fell 0.7 percent after they had gained in early trading. Several analysts were optimistic about Cisco. The US bank JPMorgan, for example, put the papers on a recommendation list. Credit Suisse upgraded Cisco from “Neutral” to “Outperform”.
Casino operator courses were under selling pressure for the third day in a row. China wants to keep the companies and their activities in the Asian gaming metropolis Macau under closer observation. “This has raised concerns about the future of Macau as the gambling epicenter,” wrote investment bank Jefferies. Las Vegas Sands shares fell 2.3 percent and Wynn Resorts fell 3 percent.
The shares of the meat substitute manufacturer Beyond Meat lost more than five percent after the investment bank Piper Sandler recommended the papers for sale./bek/men
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