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MRKTE USA / Share prices spread – Dow firm, Nasdaq weak | message

4


NEW YORK (Dow Jones) – Wall Street stock prices are moving in opposite directions on Monday lunchtime, New York time. While the blue chips in the Dow are increasing, the tech stocks on the Nasdaq are going down. The US President is seen as positive especially for consumer stocks Donald Trump has ordered a number of aid measures by decree – including a weekly support payment to the unemployed. At $ 300 per week, however, this is only half of the previous aid. The Congress had not previously been able to agree on a new aid package.

In addition, the USA recently reported the lowest number of new corona infections per day for a week. However, the five million infected mark was exceeded at the weekend. Now there is a slight hope that the corona crisis can be overcome without further lockdowns, which would represent an additional burden for the US economy.

On the other hand, the situation between the USA and China remains tense. Beijing sharply criticized the recent US sanctions against the government in Hong Kong and has now also imposed sanctions against US individuals. Eleven US citizens are affected, including Senators Marco Rubio and Ted Cruz.

The Dow Jones index gains 0.9 percent to 27,672 points. The S&P 500 is down 0.1 percent, the Nasdaq composite is down 0.9 percent. Important US economic data are not on the agenda on Monday.

Dollar gains slightly with Trump’s decree

The dollar gained slightly after President Trump signed various decrees over the weekend to extend US unemployment benefits. These came as a bit of a surprise, the market had actually expected more extensive economic stimuli from US politicians, according to Danske Bank. The dollar index is up 0.1 percent.

The oil prices are also rising with the corona aid that has been decided in the USA. Retailers are counting on increasing US demand. In addition, statements by Aramco CEO Amin Nasser support that global demand for oil is picking up after the economies reopened after the coronavirus lockdowns were relaxed. The demand for gasoline and diesel in China should be almost back to the level of before the coronavirus crisis. The price of a barrel of the US WTI variety rose 1.8 percent to $ 41.97, and Brent rose 1.4 percent to $ 45.03.

The gold price is hardly changing, but is tending to be supported by the US-China conflict. The troy ounce dropped 0.1 percent to $ 2,033.

US bonds are not wanted. The yield on ten-year paper increases by 0.5 basis points to 0.57 percent.

Berkshire Hathaway sees profits jump in second quarter

In terms of individual values, Berkshire Hathaway stocks are up 0.1 percent. Groinvestor Warren Buffett’s investment vehicle benefited massively from the recovery in equity markets in the second quarter. The company posted a profit jump of 86 percent. Profits in the large insurance business rose while earnings in the rail, utilities, energy and other sectors declined.

The hotel chain Marriott posted a loss in the second quarter as the normally lucrative summer travel season did not materialize in light of the Covid-19 pandemic. However, the company sees signs of recovery. The share rises 2.7 percent.

The shares of the ailing Eastman Kodak lose around 31 percent. A loan for the company has been called into question again because of objections from politicians and regulators.

===

INDEX last +/-% absolute +/-% YTD

DJIA 27,672.46 0.87 238.98 -3.03

S&P 500 3,349.74 -0.05 -1.54 3.68

Nasdaq Comp. 10,908.24 -0.93 -102.74 21.57

Nasdaq-100 11,005.96 -1.20 -133.43 26.03

US bonds

Maturity Yield Bp to VT Yield VT +/- Bp YTD

2 years 0.13 -0.8 0.13 -107.7

5 years 0.23 0.2 0.23 -169.6

7 years 0.41 0.5 0.41 -183.7

10 years 0.57 0.5 0.57 -187.3

30 years 1.25 1.4 1.23 -181.9

Forex last +/-% Mon, 7.45 a.m. Fri, 5.40 p.m.% YTD

EUR / USD 1.1754 -0.28% 1.1794 1.1788 + 4.8%

EUR / JPY 124.39 -0.35% 124.72 124.80 + 2.0%

EUR / CHF 1.0759 -0.01% 1.0771 1.0765 -0.9%

EUR / GBP 0.8983 -0.50% 0.9023 0.9034 + 6.1%

USD / JPY 105.83 -0.10% 105.77 105.87 -2.7%

GBP / USD 1.3084 + 0.21% 1.3071 1.3050 -1.3%

USD / CNH (offshore) 6.9624 -0.11% 6.9668 6.9682 -0.1%

Bitcoin

BTC / USD 11,887.26 + 2.07% 11,974.26 11,663.26 + 64.9%

ROHL last VT-Settl. +/-% +/- USD% YTD

WTI / Nymex 41.97 41.22 + 1.8% 0.75 -27.4%

Brent / ICE 45.03 44.40 + 1.4% 0.63 -27.5%

METALS last previous day +/-% +/- USD% YTD

Gold (spot) 2,032.95 2,035.16 -0.1% -2.22 + 34.0%

Silver (spot) 28.77 28.31 + 1.6% +0.47 + 61.2%

Platinum (spot) 995.80 958.30 + 3.9% +37.50 + 3.2%

Copper future 2.87 2.79 + 2.8% +0.08 + 1.8%

===

Contact the author: maerkte.de@dowjones.com

DJG / raz / ros

(END) Dow Jones Newswires

Aug 10, 2020 11:58 AM ET (15:58 GMT)



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