(message supplemented by individual values)
NEW YORK (awp international) – The mood on the US stock exchanges was rather subdued on Tuesday. The best-known Wall Street index Dow Jones Industrial is weakening, the Nasdaq indices, which are mainly peppered with technology stocks, have hardly changed. There are only a few impulses.
July inventory home sales fell more than expected. However, investors are less focused on this data than on the forthcoming annual central bankers’ meeting. It will be held Thursday through Saturday in Jackson Hole, Wyoming. Following the publication of the US central bank minutes last week, it is now hoped that more concrete indications will be given as to whether the US Federal Reserve still sees an obligation to raise interest rates further.
The Dow fell 0.30 percent in early trading to 34,359.64 points. The market-wide S&P 500 fell by 0.03 percent to 4398.70 points. The predominantly technology stocks Nasdaq 100 gained 0.10 percent to 14,951.80 points after gaining 1.7 percent on Monday. The Nasdaq stock exchanges have also fallen significantly more than the Dow since the beginning of the month.
Among individual stocks, Tesla shares continued to recover, up 1.8 percent. They were among the top values in the Nasdaq selection index. Having surpassed the 90-day moving average for the medium-term trend the day before, they are now approaching the 21-day moving average, which signals the short-term trend, from below. If this line is also overcome, according to chart technicians, the recovery should continue for the time being.
Moderna extended more than 9 percent of the previous day’s gains and rose 2.0 percent. After the Covid vaccine manufacturer has had a difficult year so far, things could improve in the autumn. A government official has asked Americans to have their corona vaccination refreshed. Biontech and Novavax also continued to benefit and recovered.
The software group Microsoft is starting a new attempt to get the takeover of the video game group Activision Blizzard through with British competition watchdogs. Microsoft stocks gained 0.7 percent while Activision rose 1.0 percent. Part of the new plan is to cede the cloud gaming rights to the gaming group Ubisoft for 15 years. Its papers jumped in Paris by almost 10 percent.
Baidu’s shares rose 2.3 percent at the top of the Nasdaq 100. The Chinese search engine operator had surprisingly increased its sales in the past quarter. The company is among China’s largest internet companies, returning to growth after the Beijing government eased its grip on the private sector to boost the faltering economy.
At the other end of the Nasdaq, Zoom fell by 4.7 percent according to the quarterly figures presented. The analysts at Baird complained that the implicit sales outlook for the second half of the year was weakening somewhat due to the software group’s muted online expectations.
The focus also remains on the chip group Nvidia, whose shares had recovered significantly the day before and were now down almost 2 percent. Nvidia benefits from the AI boom. The quarterly figures due after the trading day on Wednesday must show whether the recent rapid increase in expectations are justified./ck/he
2023-08-22 15:03:36
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