indexes in this article
NEW YORK (dpa-AFX) – US stock markets continued their July recovery on Wednesday after the recent failure. The impulse was given by optimistic economic data from the world’s largest economy. The Dow Jones Industrial index (Dow Jones 30 Industrial) gained 1.29 percent to 32,812.50 points. However, the most famous Wall Street index has not been able to recover from the losses since the beginning of the month.
The situation was different for the global S&P 500 index and the NASDAQ 100 technology selection index. The S&P 500 index rose 1.56% to 4,155.17 points and closed at the highest level since early June. The Nasdaq 100 gained 2.73 percent to 13,253.26 points, returning to its highest level since early May.
During the last two days, the US indices weakened after the exceptionally strong month of July. While they remained relatively stable on Monday, the slowdown was more pronounced on Tuesday. The threats from China following US House of Representatives President Nancy Pelosi’s visit to Taiwan and comments from Federal Reserve governors on inflation were very important.
Investors were now interested in new data on economic development in the United States. In July, the mood in the US services sector improved surprisingly. In addition, ISM Services is also clearly in the growth area. “There are no indications that the sector is shrinking and against this background, concerns about growth should diminish,” said economist Helaba Ulrich Wortberg. Orders received for the US industry in June were also published. Compared to May, they grew much stronger than forecasted.
On the side of the company in the middle of the week, the main focus was on companies listed on the Nasdaq, where they were in the lead: Moderna was the biggest winner with a 16% gain. Regeneron (Regeneron Pharmaceuticals) grew by almost six percent. The biotechnology company Moderna continued to use its corona vaccine in the past quarter and also announced a share buyback program. Regeneron made a positive surprise on the sales side with its hit drugs Dupixent and Eylea.
Paypal (PayPal) shares rose 9.3 percent from the Nasdaq 100, even though the payment service saw second-quarter earnings decline. This was mainly due to specific factors such as higher taxes – day-to-day operations were relatively smooth. Investors also welcomed the news that investor Elliott, known for his emphasis on high returns and commitment to management, is one of the largest shareholders with a stake of around $ 2 billion.
Starbucks (Starbucks), also part of the Nasdaq 100, gained 4.3 percent. The coffee shop chain significantly increased sales in the last quarter despite burdens in China. Additionally, although the profit fell, it exceeded expectations.
By contrast, shares of AMD (AMD (Advanced Micro Devices)), one of the biggest losers in the Nasdaq selection index, lost 1.2 percent. The chip company disappointed with sales forecasts for the current third quarter. The Tinder app’s home match group is down 17.0 percent after disappointing in the outlook for the current third quarter.
In the S&P 100 index, Ford’s (Ford Motor) share rose 3.5 percent after high sales in July. Amid lower values, the paper from Tupperware’s fresh container box maker rose at times by 65 percent after better-than-expected quarterly figures. At the end of the trade, the plus was almost a third.
On Wall Street, the euro closed at $ 1.0169. The European Central Bank previously set the reference rate in Frankfurt at 1.0194 (Tuesday: 1.0224) dollars. The dollar thus cost 0.9810 (0.9781) euro.
In the US bond market, government bonds gained after weaker performance. The T-Note Future rose 0.25 percent to 120.42 points. The yield on ten-year government bonds fell to 2.71% /ck/he
— Author: Claudia Müller, dpa-AFX —