ROUNDUP / New York Stocks Conclusion: Slight gains – Nasdaq and S&P chasing records

it only went up by just 0.09 percent to 35 366.26 points. He is still a good bit short of the previous week’s record of 35,631 points.

Investors’ fears of a possible tightening of monetary policy by the US Federal Reserve have recently diminished again – and the willingness to take risks has increased as a result. Investors are now curious to see what new impressions the annual central bank meeting in Jackson Hole will provide, which will again be held via video conference from Thursday. The main focus is on a speech by Fed President Jerome Powell on Friday.

“Until recently, it looked like this would be the perfect platform to lay the groundwork for an interest rate hike announcement,” said Craig Erlam of broker Oanda. He suspects, however, that the slowdown in global economic growth in the wake of the spreading delta variant of the corona virus could make the monetary authorities more cautious again. “Any suggestion from Powell that a rate hike might not happen this year could give markets another boost,” said Erlam.

On the Nasdaq, the shares of Chinese companies listed there attracted attention with a recovery rally after they had suffered heavily from a Chinese regulatory offensive in recent months. Above all, the shares of Pinduoduo moved up and JD.com by 22.3 and 14.4 percent respectively. The titles of the two e-commerce platforms each benefited from strong quarterly figures. Bargain hunters then sensed new investment opportunities.

The reason on the market was that star investor Cathie Wood believed in JD shares again after the price slide. There are no signs of relaxation with a view to the regulators, but it has now calmed down on this topic for a few days, it said. The titles of the search engine Baidu and the online retailer Alibaba advanced by 8.6 and 6.6 percent respectively.

Otherwise good news came from Palo Alto Networks , a security software provider. Shares jumped 18.6 percent in the wake of strong quarterly figures and a raised earnings outlook. This was followed by the shares of the competitor Crowdstrike Holdings up by 8.1 percent. They are due to be included in the Nasdaq 100 index on Thursday.

Even at Best Buy The shareholders were able to look forward to a significant price increase of 8.3 percent in the end. The electronics retailer significantly exceeded consensus estimates in the second quarter and raised its annual target for comparable sales.

Airlines were also friendly around the world on Tuesday. American papers , Delta und United Airlines advanced in New York by up to 3.8 percent. Michael Hewson from broker CMC Markets referred to the hope that the first regular US approval of a Covid-19 vaccine from the day before the vaccination campaign could give another impetus.

The euro exchange rate established itself on Tuesday at its highest level in a week. Most recently, $ 1.1758 was paid in the New York trade. The European Central Bank (ECB) had meanwhile set the reference rate a little lower at 1.1740 (Monday: 1.1718) dollars. The dollar cost 0.8518 (0.8534) euros.

US Treasuries fell somewhat. The futures contract for ten-year Treasuries (T-Note-Future) fell by 0.20 percent to 133.95 points. The opposite yield for ten-year government bonds reached just under 1.3 percent./tih/he

By Timo Hausdorf, dpa-AFX

Source: dpa-AFX

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