Newcomer CureVac shadows Apple on flat Wall Street | Financial

The leading Dow Jones index ended 0.1 percent higher at 27,930 points. The broad S&P 500 fell fractionally to 3372 points and technology gauge Nasdaq hit 0.2 percent to 11,019 points.

Tech giant Apple fell 0.1% after the declaration of war by the company behind the popular game Fortnite. The iPhone maker is chugging against a market value of 2 trillion dollars. That is an important psychological limit for many investors. Apple recently replaced the Saudi state oil company Saudi Aramco as the most valuable publicly traded company in the world.

German biotechnologist CureVac, which is developing a vaccine against the coronavirus, has had a successful first trading day on Wall Street for the time being. The company, which has been listed in New York since Friday, shot nearly 250 percent on its debut.

In addition, the American supplier to the chip sector Applied Materials (plus 3.9 percent) came with a strong forecast for the current quarter. The results for the past quarter were also better than average analysts had expected.

Chinese companies

Investors also focused on Chinese companies listed in New York as Alibaba (plus 0.1 percent) and JD.com (minus 0.8 percent). Tensions between China and the US have recently risen again. The superpowers are in conflict about the situation in Hong Kong, the corona crisis and possible spying by tech companies such as Huawei and TikTok. Due to scheduling issues, trade talks may be canceled this weekend.

The Chinese internet giant Baidu, with a listing in New York, lost more than 6.3 percent after figures. Due to the corona crisis, the group’s advertising revenues were under pressure. IQIYI, a Chinese streaming service similar to Netflix, also listed on Wall Street, did experience significant growth. However, the share lost 11 percent.

The euro was worth $ 1.1845 against $ 1.1832 at the close of the European stock markets earlier in the day. A barrel of US oil fell 0.7 percent to $ 41.93. Brent oil also became 0.6 percent cheaper, at $ 44.72 a barrel.

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