Indices in this article
NEW YORK (dpa-AFX) – The US leading index Dow Jones Industrial (Dow Jones 30 Industrial) fell into the red on Monday after a stable start to trading. The market-wide S&P 500 and the technology-heavy Nasdaq stock market both expanded their early losses.
According to experts, the major world exchanges are still in the grip of supply chain problems in central industries, rising energy prices and high inflation. The main focus at the moment is that the Opec + oil supply group will only increase its daily production by the planned 400,000 barrels (159 liters each) in November, despite the shortage on the world market. This means that the situation on the oil market remains tense and prices are likely to rise further.
The Dow, which was initially able to gain slightly, recently fell by 1.15 percent to 33,930.58 points. The S&P 500 fell 1.41 percent to 4295.50 points. The technology-heavy NASDAQ 100 fell 2.29 percent to 14,453.20 points.
The slightly better than expected order entry data from the US industrial sector for the month of August, which was released shortly after the start of trading, did not offer any support. Investors prefer to stay on the sidelines at the moment, it said.
Among the individual values in the Dow, the shares of the credit card company Visa were the worst at minus 3.7 percent, while Merck & Co (Merck) rose by 2.0 percent as the top value. The pharmaceutical company’s papers continued to benefit from recent statements that the company is about to breakthrough with a Covid-19 drug.
The Israeli biotech company Redhill Biopharma also announced promising news about the effectiveness of its own oral drug for severe Covid-19 cases. The paper recently gained 8.4 percent on the Nasdaq. For Biontech (BioNTech (ADRs)), Moderna and CureVac, the latest price slide therefore continued unchecked. All of them typed a little more than 4 percent in the USA.
The shares of Tesla moved to the top of the Nasdaq-100 and most recently gained around 2 percent. While the automotive industry is suffering from global chip bottlenecks, the electric car manufacturer impressed with a delivery record in the third quarter and thus exceeded market expectations. Goldman analyst Mark Delaney now expects further improvements in the final quarter.
Facebook (Facebook) sagged by 4.3 percent. On Sunday, a former employee of the online network announced that she had made a significant contribution to the latest series of investigation reports. Among other things, it was about the effects of the Instagram photo service on young users.
General Motors (General Motors) rose by 2.9 percent and benefited from a circular from the Bloomberg news agency about the robot car subsidiary Cruise. According to insiders, the startup sees opportunities to generate $ 50 billion in revenue with its driverless taxi business in the next few years. Cruise CEO Dan Ammann will shortly announce that the company expects income from 2022 and – if the California Public Utilities Commission gives its okay – will expand the business from 2023./ck/he
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