In contrast, the market-wide S&P 500 was able to stabilize somewhat with a plus of 0.06 percent to 4649.27 points. Technology stocks that had suffered again from concerns about inflation in the middle of the week held up even better: The Nasdaq 100 selection index closed 0.29 percent stronger at 16,032.47 points. On Wednesday, the sharp rise in consumer prices in October had fueled concerns about an imminent tightening of monetary policy by the US Federal Reserve, which would weigh on the high valuations of many tech companies in particular.
With a minus of a good seven percent in the end, Disney titles were clearly at the bottom of the Dow. Especially in the important streaming business, which competes with the likes of Netflix and Amazon, things turned out worse in the last financial quarter than investors had hoped.
The shares of the electric car pioneer Tesla went after a fickle trading history around 0.4 percent weaker at 1063.51 US dollars. After his sensational Twitter vote in the past three days, Tesla boss Elon Musk had cashed in his company’s shares for the first time in years. From Monday through Wednesday, he sold roughly five billion dollars worth of paper after redeeming some of his stock options.
After hitting a record high of $ 1,243 last week, Tesla shares briefly slipped below the $ 1,000 mark on Wednesday. Since the beginning of the year, the share has gained around 50 percent in value. Tesla is therefore worth more than a trillion dollars on the stock exchange – an umpteen times the market capitalization of the German automakers BMW, Daimler and Volkswagen combined.
The course of another e-car manufacturer meanwhile continued to pick up. After the strong debut of Rivian shares on Wednesday, the shares of Tesla competitor continued their price rally on Thursday with an increase of around 22 percent to just under 123 dollars. Compared to the issue price of 78 dollars, the price increase is now almost 58 percent. The company, which has already developed cars but has not yet achieved any significant sales, is thus worth more than $ 100 billion on the stock exchange.
The euro continued its downward trend and last cost 1.1449 dollars in New York trading – before that, it had marked its lowest level since July 2020. The European Central Bank (ECB) had set the reference rate at 1.1460 (Wednesday: 1.1558) dollars and the dollar cost 0.8726 (0.8652) euros.
There was no trading on the US bond market on Thursday./gl/he
(AWP)
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