ROUNDUP / New York Stocks End: Slight losses after record rally

NEW YORK (dpa-AFX) – Wall Street took a break on Tuesday in the latest record hunt. The most important indices closed slightly in the red. Overall, the mood on the stock market remains quite good after US Federal Reserve Chairman Jerome Powell recently reassured investors. According to Powell, the Fed is likely to reduce its bond purchases to support the economy, but not yet raise interest rates. The record-low interest rates are one of the drivers of the long-term stock market rally.

fell 0.11 percent to 35,360.73 points. On a monthly basis, this means an increase of 1.2 percent.

From a technical chart point of view, the Dow is currently still having trouble finding buyers above its most recent interim highs, wrote the expert Andreas Büchler from Index Radar. But if demand picks up again, the uptrend channel could be exhausted.

For the broader S&P 500 it went down on Tuesday by 0.13 percent to 4522.68 points. Among the technology indices, the Nasdaq 100 fell by 0.14 percent to 15,582.51 points.

On the company side, the video conferencing service Zoom was available with its business figures in focus. Although this had generated quarterly sales of more than one billion dollars for the first time, it expects lower growth in the future.

After the corona pandemic accelerated the change in the world of work and triggered a strong trend towards home offices, more and more employees are now returning to the offices. That clouded the business outlook for Zoom. The shares plummeted by almost 17 percent, making them by far the biggest loser on the Nasdaq 100.

In contrast, the shares in Netease listed in New York recovered thanks to good quarterly figures by almost 9 percent, putting them at the top of the index. The previous day, the papers of the Chinese online company suffered from the fact that the Chinese leadership tightened the rules for young users of online games.

At the end of the S&P 500, Wells Fargo’s shares lost ground 5.6 percent one. According to insiders, the big bank may have to reckon with further penalties from the supervisory authorities in an affair involving bogus accounts long ago, since the progress in processing is currently too slow for them.

The papers of the drugstore chains CVS Health and Walgreens Boots Alliance on the other hand, some of their recent profits increased significantly. CVS Health rose by a good two percent and Walgreens Boots Alliance even took the lead in the Dow with an increase of more than four percent. Analysts at Bank Morgan Stanley referred to the recent rise in demand for Covid-19 tests and corona vaccinations as a driving force.

The Euro was trading at its highest level since early August before coming under pressure again. Most recently, the common currency was quoted at $ 1.1808. The European Central Bank had previously set the reference rate at 1.1834 (Monday: 1.1801) dollars. The dollar cost 0.8450 (0.8474) euros.

The futures contract for ten-year Treasuries (T-Note-Future) fell 0.12 percent to 133.38 points. The yield on ten-year government bonds was 1.31 percent./la/mis

By Lutz Alexander, dpa-AFX

Source: dpa-AFX

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