The Dow Jones Industrial, which had just made it into positive territory in the last meters on Tuesday, was even enough to achieve a record high on Wednesday. In the end, the leading index gained 0.29 percent to 34 230.34 points. For the market-wide S&P 500, it ultimately went up by 0.07 percent to 4167.59 meters. The long, friendly Nasdaq 100 closed 0.30 percent lower at 13 503.37 points. The day before, the technology-heavy selection index had closed almost two percent in the red.
In an interview published on Tuesday with the US magazine “Atlantic”, Yellen said that higher interest rates might be necessary to prevent the American economy from overheating. A little later, she put her statements into perspective: At an online event by the “Wall Street Journal”, Yellen said she had not wanted to make an interest rate forecast or recommendation.
Quarterly figures for the companies received a mixed response. General Motors (GM) defied production problems due to computer chip bottlenecks: The carmaker achieved a surprisingly high net profit thanks to sustained high demand for SUVs and pick-up trucks. The shares then rose by around four percent.
The shares of the American telecommunications subsidiary T-Mobile US gained almost four and a half percent and barely missed a record high. After a strong first quarter, the wireless company expects higher operating profits and more new customers than before this year. In addition, T-Mobile boss Mike Sievert expects higher savings in day-to-day business from the takeover of the smaller rival Sprint a good year ago.
The Match Group, the parent company of the dating platform Tinder, continues to expect brilliant business after a strong start to the year. “We are looking forward to a summer of love,” announced CEO Shar Dubey. The shares gained 3.4 percent.
The depository receipts from Biontech broke off their recovery attempt and closed almost three and a half percent weaker. First of all, the news that Canada had approved the Mainz company’s corona vaccine for 12 to 15-year-olds. Corresponding applications have also been submitted to the European approval authority EMA and the US FDA. But then news made the rounds that the US government is supporting the suspension of patents for the corona vaccines in the fight to contain the pandemic worldwide. The titles of Moderna and Curevac also suffered as a result.
The company “The Honest Company”, co-founded by Hollywood star Jessica Alba, celebrated a brilliant debut on the Nasdaq technology exchange. The initial price of $ 21.22 was well above the issue price of $ 16. In the end, the titles of the company specializing in baby and beauty products cost 23 dollars, which meant an increase of almost 44 percent for the first day of trading.
Meanwhile, Lyft papers lost over six percent. Due to the ongoing charges caused by the Corona crisis, the US travel agent’s revenues fell significantly, while the loss remained high. That the market had expected worse and that Lyft was sticking to its goal of becoming profitable in the third quarter didn’t help. The titles of competitor Uber, which presented its figures after the market closed, lost almost three and a half percent.
The shareholders of the Hilton hotel chain had to cope with a price discount of almost four and a half percent after the announcement of a quarterly loss.
The fact that the fitness equipment supplier Peloton recalled both models of its treadmills after a series of accidents caused the shares of the Corona winner to collapse by almost 15 percent. What is explosive is that in mid-April the company initially rejected a warning from the US consumer protection agency CPSC about its treadmills. Now Peloton boss John Foley called the contradiction a mistake and apologized.
The euro temporarily slipped below $ 1.20 and last cost $ 1.2002 in New York. The European Central Bank (ECB) had previously set the reference rate at 1.2005 (Tuesday: 1.2021) dollars and the dollar cost 0.8330 (0.8319) euros. US government bonds expanded their initial gains: The futures contract for ten-year Treasuries (T-Note-Future) recently rose by 0.21 percent to 132.63 points. The yield on ten-year bonds was 1.57 percent./gl/he
— By Gerold Löhle, dpa-AFX —
(AWP)
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