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NEW YORK (dpa-AFX) – On the US stock exchanges, a slow start is emerging on Monday. In doing so, they would follow the trend on the European stock markets. On both sides of the Atlantic, investors are worried that the ongoing oil price rally could lead to energy bottlenecks and jeopardize the global economic recovery from the corona pandemic. In addition, the quarterly reporting season in the United States starts this week with business figures from banks including JPMorgan (JPMorgan ChaseCo), Bank of America, Morgan Stanley, Citigroup and Goldman Sachs.
The broker IG assessed the leading index Dow Jones Industrial (Dow Jones 30 Industrial) three quarters of an hour before the start of trading 0.05 percent in the red at 34 729 points. The NASDAQ 100 saw IG 0.51 percent weaker at 14,745 points. According to a contradicting US labor market report, the Dow closed almost unchanged on Friday, while the technology-heavy selection index fell by around half a percent.
At the beginning of the week, the shares of the oil companies naturally benefited from the fact that the sustained oil price rally drove the prices for the important commodity to new multi-year highs: Chevron and Exxon Mobil were preliminarily more expensive by between one and one and a half percent.
At the pharmaceutical giant Merck & Co (Merck), the shareholders could look forward to an increase of around 1.3 percent. Merck and partner Ridgeback want to quickly bring their corona drug to use in the USA with an emergency approval. The companies have reportedly submitted a corresponding application for their drug molnupiravir to the US FDA.
In contrast, Southwest Airlines’ shares fell almost three and a half percent after the airline had to cancel 1,800 flights over the weekend due to bad weather and staff shortages – that was at least 30 percent of all the airline’s planned flights.
Hasbro was down almost 1.7 percent. The toy manufacturer’s titles apparently suffered from a report in the “Wall Street Journal”, according to which company boss Brian Goldner is now taking a break for health reasons. The fact that shareholders of Robinhood could place securities of the online broker and that crypto currencies are increasingly regulated, caused them to fall significantly ./gl/men
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