On both the New York Stock Exchange (Nyse) and the Nasdaq technology exchange, the important indices had reached new records right at the start of trading – only the Nasdaq Composite missed a new record high. But then investors shied away from further purchases and skimmed profits from the high level, so that the market slipped significantly into the red.
The US leading index, the Dow Jones Industrial, recently traded 1.47 percent lower at 30,157.85 points, but has already visibly recovered from its daily low. For the market-wide S&P 500 it was still 1.52 percent to 3698.96 points down and the selection index Nasdaq 100 lost 1.61 percent to 12,681.29 points.
In addition to the already high share price, the uncertainties surrounding the Senate elections in the US state of Georgia, which decide on the political majority in the second chamber of parliament – in the House of Representatives, the Democratic party members of President-elect Joe Biden hold the majority. The number of corona infections, which presumably rose significantly over the holidays, is also worrying.
Among the individual values, the electric car manufacturer Tesla was once again worth a look with its ongoing record hunt. Unlike the market, the stock held its gains and rose over four percent to just under $ 735. Tesla delivered almost half a million vehicles in 2020, more than ever before.
In contrast, a price drop of almost 40 percent at the lithium battery manufacturer Quantumscape destroyed a large part of the previous week-long soaring of the share. The fault was disappointed hopes that the technology company Apple could rely on Quantumscape’s products for its electric car project.
The shares of MGM Resorts International lost four and a half percent. The casino operator wants to buy the British online gaming provider Entain for around 8.1 billion pounds. In return, treasury shares are offered, but a certain amount of cash payment is also promised. MGM had already bid for Entain last year and was dismissed. The British also rejected the current bid.
Titles from thermal imaging camera specialist Flir Systems rose by almost 20 percent to $ 52.39 thanks to the acceptance of an approximately eight billion dollar takeover offer from conglomerate Teledyne. This values Flir Systems at a mathematical $ 56 per share. Teledyne papers lost more than seven percent./gl/he
(AWP)
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