NEW YORK (dpa-AFX) – The mood on New York’s Wall Street has clouded over after a strong start to the year. Details from the central bank minutes had already resulted in a weak close of trading on Wednesday. On Thursday, the Dow Jones Industrial lost another 0.47 percent to 36,236.47 points.
The S&P 500 gave 0.10 percent to 4696.05 points. The technology-heavy Nasdaq 100 closed with minus 0.04 percent to 15,765.36 points, although it also just maintained its position, but has lost 3.4 percent since the beginning of the year.
Strong order entry data from industry and, albeit a little weaker than expected, but still strong ISM sentiment data from the service sector, caused a certain reluctance among investors. Because: According to these data, growth doubts are “not appropriate”, commented analyst Ulrich Wortberg from Helaba. It is true that they did not force expectations of rising interest rates in the US soon, but “these are already clearly pronounced”.
In its Minutes published the day before, the US Federal Reserve left no doubt that interest rates will soon be raised. In addition, some members of the monetary policy committee had spoken out in favor of starting to reduce the central bank’s total assets shortly after the first interest rate hike. That surprised the markets insofar as the Fed minutes had revealed a rather aggressive monetary policy view of the central bankers, judged analyst Birgit Henseler from DZ Bank.
On the corporate side, the Dow was looking at the shares of Walgreens, which, according to the figures presented for the first fiscal quarter and despite increased annual targets, lost 2.9 percent. The drugstore and pharmacy chain started the new financial year with surprisingly strong growth thanks to corona vaccinations and tests. However, the health sector was shunned by many investors on this trading day.
Tesla continued to give way. The e-automaker’s shares, which had cost a little more than $ 1200 apiece earlier in the year, lost 2.2 percent and are rapidly approaching the $ 1,000 mark.
The securities of the industry colleague Rivian slumped at times to a record low of 75.13 dollars, but reduced their losses significantly by the end of trading. They ultimately lost 3.0 percent to 87.33 euros. Amazon’s e-transporter deal with the car manufacturer Stellantis, which became known the day before – a first delivery should be made in 2023 – continued to burden.
The Meta papers, on the other hand, went on a recovery course. The shares of the Facebook mother gained 2.6 percent.
For Bed Bath & Beyond it went up by 20 percent at times, most recently an increase of 8.0 percent was posted. The retailer’s quarterly report was rather mixed due to delivery bottlenecks and the outlook for the fourth quarter fell short of market expectations. According to experts, the paper is still one of the favorites of so-called meme stock traders. These are involved in stocks that are hotly debated among private investors on the Internet. Again and again there are appeals to buy, which are often followed. Many professional investors, on the other hand, avoid these stocks and sometimes even bet on falling prices.
The euro fell to $ 1.1293 by the time the Wall Street market closed. The European Central Bank set the reference rate at 1.1315 (Wednesday: 1.1319) dollars. The dollar cost 0.8838 (0.8835) euros.
Yields continued to rise in the US bond market. The futures contract for ten-year Treasuries (T-Note-Future) fell by 0.23 percent to 128.61 points. In return, the yield on ten-year government bonds rose to 1.726 percent./ck/he
By Claudia Müller, dpa-AFX
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