US / Wall Street MARKET is catching up | News

NEW YORK (Dow Jones) – US stock exchanges recovered their initial losses in Tuesday’s transactions. Concerns about stagflation still dominate the market, according to observers, but failures are also used to re-enter the market.

Around noon (New York local time), the Dow Jones index changed little. The S&P 500 is also hovering around the previous day’s close. Nasdaq Composite increased by 0.1 percent.

Sentiment was weakened by a warning about retailer Target’s earnings and a larger-than-expected rate hike in Australia. Rising interest rates and weak retail sales data accurately outlined concerns about stagflation.

Inflation weakens consumers’ purchasing power, while the tightening of monetary policy limits growth. As retailers have warned, there may be a recession at the end of this process. Kleinwort Hambros ‘investment strategist Fahad Kamal summarizes investors’ concerns as follows: “We are still on the move in terms of inflation and growth and whether we will see a recession.”

Target comes under pressure following profit warning

Target has reduced its losses from over 6 percent initially to 3.6 percent now. The retailer warned against a decline in earnings because, inter alia, higher discounts are needed when selling goods. Retailers see this as a clear sign of falling consumer spending. This view weighs heavily on other industry stocks: Walmart and Costco lost 2.1 and 1.4 percent, respectively, while Amazon lost 2.2 percent. The sector tops the loser list with a 2.0 percent discount.

Defying the sector trend, Kohl’s grew 8.1 percent. The company says it is in advanced sales talks that could value the US department store chain at around $ 8 billion. The company announced that it has entered into exclusive sales talks with retail holding company Franchise Group Inc, confirming the Wall Street Journal report.

Peloton Interactive’s shares fell by 1.1 percent. The company also changes its chief financial officer just four months after the appointment of a new CEO – a move amid the continued losses of a fitness equipment manufacturer.

Apple securities gain 0.8 percent. The American technology group wants to offer installment purchases to US customers since the fall. Apple wants to work with the payment service provider Mastercard (+ 0.1%).

JM Smucker gained 4.8 percent. despite the poor prospects. Investors focus on better-than-expected business data. BuzzFeed surged 12 percent, recovering slightly from a 41 percent drop from the day before. The holding period has expired, preventing members of the management board and major shareholders from selling the shares.

bonds are going up

In the bond market, prices are recovering along with the bleak economic outlook, with ten-year government bond yields dropping just below 3.00%. This mark was crossed the day before for the first time since mid-May. Former US Treasury Secretary Lawrence Summers is calling for more aggressive measures to curb inflation. Now, however, increased yields can attract buyers.

The dollar drops on bond yields, the dollar index drops 0.1 percent. Gold and oil prices rise.

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

DJIA 32 906.04 -0.0% -9.74 -9.5%

S&P 500 4 121.97 + 0.0% 0.54 -13.5%

Nasdaq Comp. 12,076.78 + 0.1% 15.41 -22.8%

Nasdaq-100 12 615.66 + 0.1% 16.03 -22.7%

US bonds

Term Profitability Bp to VT Profitability VT +/- Bp YTD

2 years 2.71 -0.8 2.72 197.8

5 years 2.98 -5.6 3.04 172.2

7 years 3.01 -7.5 3.08 157.0

10 years 2.97 -7.3 3.05 146.5

30 years old 3.13 -6.7 3.20 123.2

FOREX last +/-% Tue 9:44 Mon 17:37% YTD

EUR / USD 1.0700 + 0.0% 1.0687 1.0690 -5.9%

EUR / JPY 141.77 + 0.5% 141.86 140.66 + 8.3%

EUR / CHF 1.0411 + 0.3% 1.0414 1.0358 + 0.4%

EUR / GBP 0.8494 -0.5% 0.8565 0.8531 + 1.1%

USD / JPY 132.52 + 0.5% 132.75 131.58 + 15.1%

GBP / USD 1.2596 + 0.5% 1.2477 1.2530 -6.9%

USD / CNH (offshore) 6.6751 + 0.3% 6.6715 6.6573 + 5.1%

Bitcoin

BTC / USD 29 872.54 -5.1% 29 546.90 31 298.10 -35.4%

ROHOEL the last VT-Settl. +/-% +/- USD% YTD

WTI / Nymex 119.50 118.50 + 0.8% 1.00 + 64.2%

Brent / ICE 120.55 119.51 + 0.9% 1.04 + 59.8%

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

Gold (spot) 1,851.19 1,841.47 + 0.5% +9.72 + 1.2%

Silver (Spot) 22.16 22.08 + 0.3% +0.08 -5.0%

Platinum (Spot) 1 009.95 1 022.00 -1.2% -12.05 + 4.1%

The future of copper 4.42 4.44 -0.4% -0.02 -0.7%

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Contact the author: maerkte.de@dowjones.com

DJG / DJN / cln / brb

(END) Dow Jones Newswires

June 07, 2022 12:18 PM ET (4:18 PM GMT)

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