The US stock markets didn’t make big jumps on Wednesday. Investors were reluctant to take on new commitments, as many US citizens celebrated the Thanksgiving holiday on …
NEW YORK (dpa-AFX) – The US stock markets did not make any big jumps on Wednesday. Investors were reluctant to take on new commitments as many US residents use the Thursday Thanksgiving holiday for a long weekend. Due to the public holiday, some economic data were brought forward, which had little influence on the exchange rates. The minutes of the most recent US Federal Reserve meeting did not cause any turbulence either.
The Dow Jones Industrial (Dow Jones 30 Industrial) closed with a minus of 0.03 percent at 35,804.38 points. For the market-wide S&P 500 it was up 0.23 percent to 4701.46 points. The Nasdaq 100 rose 0.37 percent to 16,367.81 points.
According to the Fed minutes, the members of the monetary policy committee of the US Federal Reserve discussed a faster throttling of their bond purchases. “Some participants preferred a slightly faster pace of cuts that would result in purchases being closed earlier,” the minutes said. In this way, one can react earlier to the growing threat of inflation with changes in interest rates.
The US economy grew somewhat faster in the summer than previously known. The gross domestic product (GDP) rose in the third quarter compared to the previous quarter by an annualized 2.1 percent. The weekly initial jobless claims fell by 71,000 to 199,000, the lowest level since 1969. Analysts had expected an average of 260,000 applications.
Durable goods orders surprisingly continued to fall in October due to a weakness in the transport sector. The US real estate market continues to trend towards strength. In October, new home sales rose 0.4 percent from the previous month, while analysts had expected stagnation. The consumer climate – as measured by the Uni-Michigan index – fell in November to its lowest level in ten years. US consumer spending and income rose faster-than-expected in October.
Among the individual values, the shares of the computer companies Dell (Dell Technologies) and HP Inc (HP) with presented quarterly figures were in view. Thanks to a strong demand for PCs, both of them earned splendidly. In the corona pandemic, Dell and HP continued to benefit from the trend towards home offices and an increased need for IT. Dell papers gained 4.8 percent, those from HP rose by more than 10 percent.
The expectation of strong sales losses of the fashion chain Gap caused the shares to collapse by a good 24 percent. Due to global problems in the supply chain and significantly increasing freight costs, Gap warned of weaker Christmas business. In the current year, the company could lose up to $ 650 million in revenue. Gap has therefore significantly reduced its annual targets.
Tesla boss (Tesla) Elon Musk sold further papers of the electric car maker for about 1.05 billion US dollars, as emerged from mandatory notifications to the US stock exchange regulator. This means that Musk has already sold Tesla shares worth around $ 10 billion since he agreed to sell ten percent of his stake two and a half weeks ago in the course of a Twitter vote. Tesla titles rose 0.6 percent.
In US trading, the euro was just able to stay above the US $ 1.12 mark recently. In European business, the common currency fell to $ 1.1186, its lowest level since mid-2020. The European Central Bank (ECB) had set the reference rate at 1.1206 (Tuesday: 1.1259) dollars.
The prices of US Treasuries rose slightly. The futures contract for ten-year Treasuries (T-Note-Future) recently rose by 0.06 percent to 129.84 points. The yield on ten-year government bonds fell to 1.64 percent./edh/he
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