NEW YORK (dpa-AFX) – The rally on the US stock market only continued in parts on the second trading day of the new year: climbed right at the start on Tuesday Dow Jones Industrial and S&P 500 at record highs. In the further course, however, the profits crumbled again. The market-wide S&P even turned into the red. In addition, investors only touched technology stocks with pointed fingers. As a result, the Nasdaq indices plummeted.
Ultimately, the Dow ended the day up 0.59 percent to 36,799.65 points. After rising to just under 4819 points, the S&P 500 fell by 0.06 percent to 4793.54 points. The technology-heavy Nasdaq 100 lost 1.35 percent to 16279.73 points.
The much-noticed ISM sentiment data from the industry in December turned out to be weaker than expected, but according to experts it still shows a lot of confidence. The violent Omikron wave in the US is likely to temporarily weaken economic growth there, but the first data published this year suggested that the US economy was fundamentally very strong, according to experts at ING. Robust growth and inflation should keep the Federal Reserve on track to hike rates.
Again, banking stocks were among the favorites: In the Dow, the shares of JPMorgan and Goldman Sachs, in the S&P 100 those of Bank of America, Wells Fargo and Morgan Stanley rose by three to four percent.
Investors also grabbed the shares of the two automakers GM and Ford, which rose 7.5 percent and 11.7 percent, respectively.
General Electric were also among the preferred values with a plus of 3.3 percent. You benefited from an upgrade by Credit Suisse to “Outperform”. After the share price slump between November and Christmas, analyst John Walsh now sees an opportunity to buy and points to the conglomerate’s cyclical aviation business and its recovery opportunities.
The Apple papers, on the other hand, lost 1.3 percent. The day before, the iPhone manufacturer was the first company in the world to achieve a market value of three trillion dollars. For Tesla it was down 4.2 percent. On Monday, the electric carmaker’s shares were catapulted up by 13.5 percent from strong delivery figures in the fourth quarter of 2021.
The euro went up and down in US trade. At times it clearly exceeded the $ 1.13 mark again, and then at close of trading on Wall Street it cost $ 1.1283. The European Central Bank set the reference rate in Frankfurt early in the afternoon at 1.1279 (Monday: 1.1355) dollars. The dollar cost 0.8866 (0.8807) euros.
In the US government bond market, the futures contract for ten-year Treasuries (T-Note Future) fell by 0.03 percent to 129.39 points. The yield on ten-year government bonds rose by 0.023 percentage points to 1.663 percent./ck/he
By Claudia Müller, dpa-AFX
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