NEW YORK (dpa-AFX) – The latest US inflation data have calmed investors on the New York stock market in the middle of the week. The Dow Jones Industrial (Dow Jones 30 Industrial) climbed to a record high for the third day in a row. At the close of trading, the US benchmark index gained 1.46 percent to 32 297.02 points. The shares of the aircraft manufacturer Boeing at the top of the index continued their strong previous day with a plus of 6.4 percent. The trend towards papers of the “old economy” or to value stocks – stocks with catching up potential – continued.
The technology exchange Nasdaq did not slow this down too much on Wednesday. After the impressive recovery of the previous day, the prices fluctuated between plus and minus, at the end of the day the NASDAQ 100 fell 0.33 percent to 12,752.07 points. The market-wide S&P 500 increased by 0.60 percent to 3898.81 points.
After fears of inflation drove up bond yields in the recent past and thus at times weighed heavily on the stock markets, investors were all the more excited about new consumer price data on Wednesday. By and large, these met expectations. Although the price pressure seems to be increasing, the inflation worries should not get any bigger, says economist Ulrich Wortberg from Helaba. He pointed out that inflation was related to increased energy costs, but the core rate had fallen slightly.
The futures contract for ten-year Treasuries (T-Note-Future) recently climbed 0.08 percent to 132.51 points, the yield on ten-year government bonds fell to 1.52 percent and was thus well below its recently reached high of a good year 1.61 percent. The increase was triggered by concerns about inflation in connection with the gigantic US economic stimulus package to cope with the corona crisis. It is now a done deal. After the US Senate, the House of Representatives also approved the project worth around 1.9 trillion US dollars on Wednesday.
General Electric (GE) (General Electric) shares lost 5.4 percent in the S&P 500. The US conglomerate is parting with its aircraft leasing business Gecas as part of its restructuring, which it is merging with Irish competitor AerCap. There had already been reports on Monday, to which the GE papers had reacted very positively. This Wednesday, GE also confirmed its forecast for adjusted earnings per share for the year, which disappointed analysts a little. In addition, GE announced that it would pool shares.
GameStop shares, which have been very popular with private speculators since the end of January, made the headlines again. For a long time it was a little quieter about the papers, but this week at the latest they drew attention again with two price jumps on Monday and Tuesday. They continued the rally on Wednesday before they fell like a stone. From trading they then went up again by 7.3 percent.
The online video game platform Roblox got off to a strong start on the stock market. The New York stock exchange Nyse had set the reference price for the papers at 45 dollars, which corresponded to an overall valuation of around 30 billion dollars. The first price of $ 64.50 was just as significantly higher as the closing price of $ 69.50. In the pandemic, Roblox developed into a virtual playground for children, now the company wants to conquer Wall Street.
The euro was priced at $ 1.1927 after the New York market closed. The European Central Bank (ECB) had set the reference rate at 1.1892 (Tuesday: 1.1894) dollars, the dollar thus cost 0.8409 (0.8408) euros./ajx/men
— By Achim Jüngling, dpa-AFX —
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