NEW YORK (dpa-AFX) – Investors on the US stock exchanges have to be prepared for discounts in the technology sector on Thursday. Price losses at Tesla and Netflix according to numbers do not bode well for the Nasdaq 100, which had turned off near the 16,000 point mark the day before and was still just in the red. The broker IG assessed the tech price barometer on Thursday 0.7 percent lower to 15,721 points.
The leading index Dow Jones Industrial, which rose above 35,000 points the day before for the first time since April 2022, is expected to be solid. The leading index was assessed as slightly up at 35,081 points, which would remain well below the previous day’s high of 35,234 points. Among the defaults, there were some quarterly reports that did better.
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At Tesla, renewed profitability concerns are spoiling investors’ mood. In pre-market New York trading, the shares of the electric car manufacturer lost 4.3 percent. With the stock rallying more than 140 percent this year to near the $300 mark, investors are becoming more skeptical of further price gains. Company boss Elon Musk emphasized the willingness to further price reductions if the economic environment continues to deteriorate in times of rising interest rates.
Things looked a little bleaker before the market at Netflix with a discount of 5.8 percent. Here, too, there was talk of taking profits after this year’s price rally. A disappointing sales development was blamed for this. According to JPMorgan analyst Douglas Anmuth, the crackdown on password sharing hasn’t had as positive an impact as hoped.
However, there was some positive reaction to earnings reports in the Dow and in non-tech blue chips. For example, insurer Travelers, included in the Dow, rose 1.4 percent despite being dragged into the red by catastrophe losses in the second quarter. However, the bottom line on the market was that expectations were met.
Johnson & Johnson is also showing an increase of half a percent. After an unexpectedly strong second quarter, the pharmaceutical and consumer goods group has once again raised its forecast for the year. Between April and June, the company primarily benefited from a strong medical technology business.
On the broader market, United Airlines stocks rose 2.6 percent premarket. The airline raised the lower end of its profit target range this year, largely due to demand on overseas routes. There were also figures from American Airlines, but this was down 1.6 percent.
A Dow representative with a negative reaction were the shares of IBM, which lost almost one percent before the market. The sales of the IT veteran in the second quarter just missed expectations. The company confirmed its sales forecast for this year. However, analyst David Vogt from UBS emphasized that he sees risks in this regard./tih/stk
2023-07-20 12:58:58
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