Before the first television debate between US President Donald Trump and his challenger Joe Biden, reluctance dominated. A democratic draft for a 2.2 trillion US dollar economic stimulus program, which the market continued to see as difficult to implement, was also received with skepticism. The fact that the number of worldwide deaths from the corona pandemic has reached the million mark also caused new uncertainty.
The other indices also slipped into the red on Tuesday. The market-wide S&P 500 recently lost 0.40 percent to 3338.07 points. The technology stocks once again did a little better, the Nasdaq 100 selection index, which is focused on this industry, was only slightly in the red at 0.17 percent. Most recently it stood at 11,345.55 points.
On the company side, a leap in the price of Beyond Meat to the highest level in a year caused a sensation. An increased presence of manufactured meat substitutes in Walmart stores sent stocks on a rally. At times, the paper was up in double digits, most recently the premium was almost nine percent.
Uber also made a name for itself again. While the travel agent, according to insiders, is considering a possible purchase of the German mobility provider Free Now, the shares fell by 2.4 percent. In the market it was said that such a step would give the market share in Europe a big boost.
In the Dow, aircraft manufacturer Boeing paid tribute to a two-day recovery rally, with shares falling 1.8 percent. Hope for an early re-admission of the 737 Max jets had driven the papers up by 15 percent over the past two days. The current pandemic worries meanwhile weighed on the shares of airlines again on Tuesday. United, Delta and American Airlines lost up to four percent.
In general, the recent noticeable recovery also faded in technology stocks. Apple, for example, lost 0.9 percent and thus became a burden for the Dow. However, many chip values were a positive industry exception. As an increase at Micron by 2.5 percent shows, investors look at the company with good cheer on the quarterly figures expected after the hours.
Meanwhile, the shares of oil companies came under pressure on a broad front due to falling oil prices on Tuesday. Chevron became the Dow’s biggest loser at a 3.2 percent discount. In the broader market, the shares of ExxonMobil, Occidental Petroleum and the industry equipment supplier Schlumberger lost between 3.2 and 5.4 percent./tih/he
(AWP)
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