“The US labor market is recovering vigorously, although the consensus estimate for the unemployment rate was missed. The employment rate has meanwhile stagnated,” said Helaba analyst Ralf Umlauf, summarizing the development in June. According to him, there is not yet any acute pressure to act on the US Federal Reserve to deviate from its ultra-expansionary monetary policy, as many millions of jobs are still missing. He also referred to the reduced number of hours worked on average, while hourly wages had increased.
The Dow barely moved in early trading, up 0.13 percent to 34,677.94 points. Meanwhile, the S&P 500 advanced 0.33 percent to 4,333.62 points and continued to build on its exceptionally strong half-year profit. The Nasdaq 100 technology selection index rose 0.62 percent to 14,650.31 points.
Among the individual values, the shares of IBM sank with minus 3.8 percent to the end of the Dow. Investors reacted with sales to the surprising news that manager Jim Whitehurst – formerly head of the software provider Red Hat, which was taken over by IBM – is leaving the company. The Boeing papers also fell by 0.9 percent, which means they increasingly recovered from their more pronounced initial losses. After the forced landing of a Boeing 737 cargo plane off Hawaii, the FAA announced an investigation. According to preliminary information, both pilots, who were the only occupants on board, were rescued by the US Coast Guard.
Johnson & Johnson, meanwhile, gained 0.6 percent in the Dow. According to its own information, the corona vaccine from the pharmaceutical company stimulates a “strong and sustained” immune response against the particularly contagious Delta variant (B.1.617.2). Curevac, however, lost another 5.4 percent after almost 3 percent the previous day – the papers continued to suffer from disappointing final data on the effectiveness of their own corona vaccine.
Virgin Galactic gained 8.3 percent in very brisk trade, as British billionaire Richard Branson announced that he would like to fly into space on July 11th with the help of his space company.
Among the newcomers to the stock market, Krispy Kreme lost 7.2 percent. Spending at $ 17, the titles in the donut chain closed their first day of trading on Thursday at $ 21. The Chinese transport service provider Didi had a strong stock market start on Wednesday. Now the papers gave way before the weekend by 5.5 percent. Traders attributed this to the fact that the Chinese internet regulator is reviewing the network security of the Uber competitor. / Ck / men
(AWP)
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