(The second sentence in the first paragraph will be corrected. US top politician Nancy Pelosi rpt top politician it should be)
NEW YORK (awp international) – The US stock exchanges extended their slight losses from the previous day on Tuesday. Investors around the world are nervous as threats have come from China over US leader Nancy Pelosi’s visit to Taiwan. ES is the highest-ranking US politician in a quarter of a century, and the communist Chinese government doesn’t like that at all, because it sees democratic Taiwan as part of the People’s Republic of China. Beijing therefore also threatened possible military measures.
The Dow Jones Industrial recently fell 0.58 percent to 32,609.07 points in early trading. The market-wide S&P 500 lost 0.17 percent on Tuesday to 4111.54 points. The Nasdaq 100 fell 0.17 percent to 12,919.15 points.
“A cocktail of uncertainty has overshadowed the recent good mood on the global stock markets,” commented market expert Timo Emden, referring to the geopolitical risks as well as fears of the economy, inflation and recession. Market analyst Jochen Stanzl from CMC Markets also warned not to downplay the conflict. “An attack by Russia on Ukraine was also considered unlikely by the majority.” And the fact that Russia is seeking to close ranks with China in the Taiwan conflict is likely to exacerbate the situation.
Among the individual values, the shares of Caterpillar in the Dow were among the weakest values with minus three percent. The construction machinery and commercial vehicle manufacturer disappointed the market with its sales in the second quarter. Due to lower construction machinery sales in China, it fell short of the average analyst estimate.
On the other hand, Uber , the online network Pinterest and the cloud software provider Zoominfo convinced investors with their reports. With a doubling of its sales in the second quarter, the transport service provider exceeded analyst expectations and the adjusted operating result also surprised positively. Its share price rose by almost 14 percent and that of its smaller competitor Lyft gained 10.5 percent. However, the losses of the shares since the beginning of the year are considerable.
Pinterest’s shares jumped 12.5 percent after the online company’s better-than-feared user numbers last quarter. It was also announced that the investment company Elliott is now the largest shareholder.
Zoominfo also scored with its interim report, which gave the shares a plus of 10.5 percent. For the papers of the car rental company Avis Budget, on the other hand, according to the figures presented, it was last down by 9.5 percent. At the start of trading, the titles had jumped up.
A possible takeover was also in focus. Investment bank Cowen’s shares rose 7.7 percent to $38.225. Canadian industry colleague Toronto Dominion Bank wants to take over the institute for $1.3 billion or $39 per share in cash./ck/he
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