Slight losses after a strong July

NEW YORK After a few changes, the Dow Jones Industrial lost 0.14 percent to 32,798.40 points. The market-wide S&P 500 index fell 0.28% to 4118.63 points. The Nasdaq 100, which is heavily stocked with tech stocks, fell 0.06 percent to 12,940.78 points. However, July was extremely strong for the stock exchanges: the Dow rebounded by about seven percent over the past month and the Nasdaq 100 by almost 13 percent.

On that day, the focus was primarily on ISM data: as the Institute for Supply Management (ISM) announced shortly after the start of trading, the mood in the US industry fell to 52.8 points in July, the lowest level in more than two years. However, economists expected an even more marked drop to just 52.0 points. “The Purchasing Managers’ Index has exceeded the consensus and is still clearly in the expansion zone,” emphasized economist Helaba Ulrich Wortberg positively. “In this context, doubts about growth should not rise, and the US Federal Reserve may stick to its initial plan to raise interest rates to further curb inflation.”

However, hopes for a possible gradual shift in the US Federal Reserve’s monetary policy after the recent interest rate hike have waned. As central bankers have now indicated interest rates will have to be raised further to keep inflation under control. The ISM sub-index for incoming orders, which was particularly weak, now signals a decline.

Among the individual Dow stocks, the aircraft manufacturer Boeing’s share grew 6.1 percent. According to circles, the group intends to resume deliveries of the 787 (Dreamliner) long-haul jet. The group received preliminary approval from the US Federal Aviation Administration, the news agency Bloomberg said, citing those familiar with the case. According to RBC analyst Ken Herbert, this is good news not only for Boeing shares, but for the sector as a whole. Goldman analyst Noah Poponak expects this will now unlock substantial cash inflows and alleviate concerns about the capital structure.

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Alibaba gained 1.1 percent. after a significant drop in prices on Thursday and Friday. Amazon’s Chinese competitor has announced that it wants to work with US authorities to maintain its previous listing on the New York Stock Exchange in addition to the new listing in Hong Kong. On Friday, the US Securities and Exchange Commission (SEC) placed Alibaba on the list of companies at risk of being withdrawn from the stock exchange.

Celsius shares rose 11.1 percent to $ 98.87. Pepsico gained 1.1 percent. The soft drink company and competitor of Coca-Cola secured an 8.5% stake in the fitness and energy drink maker for $ 550 million, or $ 75 per share.

Twitter titles fell 1.7 percent. Technology billionaire Elon Musk has filed a response to a lawsuit regarding the short message service in the legal fight for a withdrawn takeover bid. However, the document from Friday is not publicly available yet. Musk’s lawyers have several days, according to court regulations, to release a version without confidential data.

At the close on Wall Street, the euro was traded at $ 1.0258. The European Central Bank set the reference rate in Frankfurt at USD 1.0233 (Friday: 1.0198). The dollar thus cost 0.9772 (0.9806) euro.

In the US bond market, the 10-year T-Note Future contract rose by 0.26 percent. up to 121.45 points At the same time, the yield on 10-year government bonds fell to 2.59% / k / he

— Author: Claudia Müller, dpa-AFX —

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