NEW YORK (dpa-AFX) – On Wall Street, after the profits on Friday, disillusionment has spread again. The most important indices ended up almost on the spot on Monday after a rather sluggish trading session. Robust economic data had caused yields on the bond market to rise over the course of the year and aroused fears that the US Federal Reserve might raise interest rates earlier than expected in order to cope with rising inflation. Corresponding fears had faded into the background on Friday.
The Dow Jones Industrial closed 0.04 percent lower at 36 087.45 points. The market-wide S&P 500 remained unchanged in percentage terms at 4682.80 points. The technology-heavy Nasdaq 100 was down 0.07 percent to 16,189.12 points.
The industrial mood in New York brightened much more clearly than expected in November. In particular, the indicators for new orders and deliveries rose. At the same time, the sub-indices for price developments showed persistently high inflation. The price paid indicator was close to its record high, while the index of prices achieved by companies hit a record high. On Friday, the consumer confidence at the University of Michigan had deteriorated significantly due to increasing fears of inflation.
In the Dow, Boeing shares secured first place on Monday, up five and a half percent. At the air show in Dubai, the aircraft manufacturer was optimistic that it would be able to secure important orders from China.
Behind Boeing, the shares of the oil company Chevron benefited from a buy recommendation from the major Swiss bank UBS and rose by a good two percent. Analyst Jon Rigby had significantly raised his estimates for the oil price by 2025.
On the Nasdaq 100 peak, Dollar Tree’s shares soared more than 14 percent after hitting a record high in trading. Here a report by the “Wall Street Journal” caused euphoria. According to the newspaper, the activist investor Paul Hilal holds shares in the cheap trading chain worth at least 1.8 billion US dollars through his investment company Mantle Ridge, making it one of the two largest shareholders.
Meanwhile, the spectacular Twitter vote by Tesla boss Elon Musk about the sale of own shares is increasingly pushing the electric carmaker’s share price. On this Monday, Tesla even had to leave the club of the trillion dollar corporations. In the end, the shares were able to contain the minus to around two percent, so that the group was again just over 1 trillion dollars at close of trading.
Elon Musk had Twitter users to vote on whether he should sell a tenth of his stake in the electric car manufacturer for higher tax payments. As by far the richest person in the world, the 50-year-old has recently been increasingly confronted with demands to contribute more to solving the world’s problems and to pay more taxes. After 58 percent of Twitter users wanted a sale, Musk took several steps to monetize Tesla shares. As can now be seen, this was apparently not done in a way that was gentle on the share price.
The euro suffered from the rise in yields in the US and last cost 1.1371 US dollars. The European Central Bank had set the reference rate at 1.1444 (Friday: 1.1448) dollars. The dollar cost 0.8738 (0.8735) euros.
The futures contract for ten-year Treasuries (T-Note-Future) fell 0.18 percent to 130.30 points. The yield on ten-year government bonds rose to 1.62 percent./la/he
By Lutz Alexander, dpa-AFX
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