NEW YORK (dpa-AFX) – The US stock markets recovered somewhat from the previous day’s losses on Tuesday. The leading index Dow Jones Industrial rose by 0.35 percent to 34,088.04 points, after having lost around 1.8 percent at the beginning of the week. In particular, investors’ fear of the troubled Chinese real estate sector had sent prices down around the world.
The market-wide S&P 500 was up 0.21 percent on Tuesday at 4,366.95 meters. On the technology-heavy Nasdaq exchange, the Nasdaq 100 advanced 0.27 percent to 15 052.89 points.
Fresh US economic data was a rather positive surprise. The chronic deficit in the US current account rose less strongly than analysts expected in the second quarter compared to the previous quarter. In the construction industry, the number of newly started residential construction also increased more than expected, and the number of building permits increased unexpectedly and significantly.
Meanwhile, investors are already turning their attention to the meeting of the US Federal Reserve (Fed), the results of which they hope will generate new monetary policy impetus on Wednesday. Economist Christian Scherrmann from the fund company DWS does not expect any significant changes. The recent moderate recovery in the labor market and the uncertainty surrounding the delta variant of the coronavirus reduced the pressure to prematurely adjust the very loose monetary policy to support the economy.
Among the individual values, all companies from the second row were a topic of conversation. Uber’s shares soared nearly ten percent. More than a decade after it was founded, the driving service broker has the prospect of its first operating profit – at least after deducting various costs. The company burned billions on its global expansion with the promise of later profits.
Meanwhile, there could be a transatlantic takeover with a double-digit billion volume among the providers of games of chance and sports betting. The group Draftkings wants to buy the British competitor Entain (formerly GVC). While the papers of Draftkings lost more than 5 percent, the shares of Entain in London soared by a good 16 percent recently. / La / jha /
Source: dpa-AFX
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