indices in this article
NEW YORK (dpa-AFX) – A previously hoped for recovery from the recent turbulence in the technology sector failed to materialize on the US stock exchange on Wednesday. The selection index Nasdaq 100 Index (NASDAQ 100), which is shaped by these industry values, fell again in early Wednesday trading by 1.58 percent to 12,986.814 points. A friendly start had actually been expected over long distances.
The Dow Jones Industrial (Dow Jones 30 Industrial) fell in early trading by 0.21 percent to 31,472.39 points. In the case of the leading index, it initially looked as if it could come close to its previous record. The day before, he missed the record of 31,653.48 points by only one decimal place. The market-wide S&P 500 also fell by 0.43 percent to 3864.81 counters.
The fear of rising inflation and higher market interest rates, which had recently weighed heavily on the hot technology stocks, remained in the minds of investors this Wednesday. The yield on ten-year US bonds reached a one-year high. The appeasement effect from statements by the US Federal Reserve Chairman Jerome Powell from the previous day did not last long.
The latter had said that inflation was still a long way from the Fed’s goals and that the monetary authorities were still ready to draw on monetary policy to support the economy. According to analyst Craig Erlam from broker Oanda Europe, the stock exchanges are in rough waters because of the interest rate issue. As a well-known representative of the tech industry, Apple’s papers, which are also listed in the Dow, slipped 2.2 percent on Wednesday.
Johnson & Johnson (JohnsonJohnson) stocks were positive in the Dow, up half a percent. They responded to an assessment by the US drug authority FDA, according to which the corona vaccine from the pharmaceutical company, which is about to be approved in the USA, is safe and effective.
The benchmark index also went up for bank shares. Higher interest rates are generally seen by financial institutions as beneficial for day-to-day business, for example with loans. Goldman Sachs securities climbed 1.9 percent and JPMorgan (JPMorgan ChaseCo) rose 0.9 percent.
The front runners were the aircraft manufacturer’s titles, which are currently in a rally together with travel values in the hope of Corona easing. Boeing’s papers advanced 2.7 percent. Those of the airlines American (American Airlines), United (United Airlines) and Delta (Delta Air Lines) gained between 3.1 and 5.2 percent in the broader market.
McAfee stocks were in high demand among the small caps. Most recently, they rose by 5.5 percent after the security software manufacturer’s sales exceeded analyst expectations. An upgrade of the title by Deutsche Bank also had an uplifting effect.
The Irish drug developer Icon plans to take over the US contract researcher PRA Health Sciences for around twelve billion dollars. With this, the two companies want to forge a leading provider in clinical research. The PRA papers then shot up by almost 20 percent. Icon slipped 4.6 percent in London.
A Bloomberg report based on inside information, according to which the Chinese taxi alternative Didi wants to enter the Western European market, had a negative effect on Uber. The title of driving service broker lost 3.2 percent./tih/he