Frankfurt After the record high of the Dow Jones Industrial, the most important US stock market barometer ran out of air on Thursday. The mood was depressed by disappointing quarterly figures from the technology giant IBM, which caused the share price to plummet. The Dow closed 0.02 percent lower to 35,603 points. The day before, the index had left its previous high of mid-August behind.
Rising capital market rates could also increasingly take their toll on the stock exchanges. The yield on the ten-year US Treasury futures contract rose to its highest level in five months on Thursday. When bond rates rise, stocks can become less attractive. In addition, refinancing can become more expensive for companies – and profitability can decrease as a result.
Unlike the Dow, the broad S&P 500 reached another record high. It closed 0.30 percent higher at 4549 points. The technology-heavy Nasdaq 100 increased by 0.66 percent to 15,489 points. Strong price gains from Netflix and Tesla provided a boost here.
Far behind at the end of the Dow, IBM shares plunged nearly ten percent to their lowest level in seven months. Analyst Moshe Katri from the Wedbush investment house criticized the fact that the group had performed surprisingly poorly, especially in high-growth segments such as the cloud business with internet-based software. Investors could now doubt a turn for the better.
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The euro lost ground against the US dollar, trading at $ 1.1623 in late US currency trading. The European Central Bank had previously set the reference rate at 1.1637 (Wednesday: 1.1623) dollars. The dollar cost 0.8593 (0.86036) euros.
Quotes on the US bond market came under pressure. The futures contract for ten-year Treasuries (T-Note-Future) lost 0.36 percent to 130.17 points. The yield on ten-year government bonds rose to 1.68 percent.
US stock market expert Koch: “Is the correction coming on Wall Street now?”
Look at further individual values
American Airlines: A quarterly result above market expectations gives a boost. The airline’s shares rise 1.9 percent. The quarterly loss was reportedly with 0.99 dollars per share less than feared. At the same time, sales exceeded analyst forecasts at $ 8.97 billion.
Crocs: A surprisingly strong jump in profit and a more optimistic outlook give the shares a big jump in prices. The shares of the clogs provider rose 9.32 percent. The company increased quarterly sales 73 percent to $ 625.9 million. For the year as a whole, it is aiming for growth of 62 to 65 instead of 60 to 65 percent.
IBM: The company beat estimates with adjusted quarterly earnings of $ 2.52 per share by two cents. But revenue fell short of analysts’ forecasts as the company’s cloud business weakened and customer spending plummeted. IBM slipped 9.56 percent.
Dow: The course of the chemical producer Dow contained in the Dow lost 1.1 percent after quarterly figures. The figures from American Airlines were better received, with the loss in the third quarter being lower than expected despite increased costs. The course gained 1.9 percent.
Netflix: The papers of Netflix reached a record high. Most recently, the premium was 4.5 percent. The price losses from the day before the publication of the quarterly report thus turned out to be short-lived, the upward trend is intact.
Tesla: Tesla shares gained 3.3 percent after quarterly figures and only just failed to hit a record high. “Tesla achieved records in the third quarter in terms of production, deliveries, sales and also in terms of earnings,” noted analyst Frank Schwope from Landesbank NordLB. However, he thinks the company is clearly overvalued.
Blackstone: The share of the private equity company gained 2.98 percent. With a profit of $ 1.28, Blackstone clearly beat the consensus estimate of 91 cents. The company benefited from strong investment performance, among other things.
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