The labor market data are considered to be an important yardstick for US monetary policy.
(Photo: action press)
new York A sell-off in technology stocks dampened sentiment on the US stock exchanges at the end of the week. In view of the worldwide spread of the Corona mutation Omikron and high inflation, investors shied away from risks and sold shares.
The Dow Jones lost 0.2 percent to 34,580 points. The technology-heavy Nasdaq lost 1.9 percent to 15,085 points and the broad S&P 500 lost 0.8 percent to 4538 points. Weekly the S&P fell 1.2 percent, the Dow 0.9 percent and the Nasdaq 2.6 percent.
The increase in jobs in November turned out to be significantly less than expected, which at least dampened speculation that the US Federal Reserve would curb its securities purchases more quickly. In November 210,000 new jobs were created outside of agriculture, experts polled by Reuters had expected 550,000.
“That can give the Fed the air to decide not to go any faster in December,” said Thomas Hayes, executive member of asset manager Great Hill Capital in New York. In mid-November, the Federal Reserve began scaling back its asset purchases by $ 15 billion a month. Some central bankers had recently pleaded for more speed. The end of the so-called tapering is a prerequisite for a turnaround in interest rates.
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According to strategists, volatility on the stock exchanges will in any case remain high. “Even if Omikron isn’t too virulent, all of this, along with a more restrictive Fed, speaks for increased caution with risky assets,” said John Vail, chief strategist at Nikko Asset Management.
Chinese stocks fall after Didi’s withdrawal
Investors parted ways with big tech stocks like Amazon (minus 1.4 percent), Nvidia (minus 4.5 percent), Microsoft (minus two percent) and Apple (minus 1.2 percent). For Tesla it was even 6.4 percent downhill. The boss of the electric car maker Elon Musk had announced the sale of additional shares worth about one billion dollars due to tax obligations.
The proposed withdrawal from Wall Street weighed on Didi’s shares. The papers of the Chinese transport operator collapsed in New York by more than 22 percent. Shares in other Chinese companies such as Alibaba, JD.com and Vipshop also fell. Uber competitor Didi went public five months ago, despite the Chinese government’s request to postpone the plans, and has been the target of regulators in the People’s Republic ever since.
Look at the individual values
Dole: Investors are turning away after the latest business figures from Frucht-Multi Dole. The shares of the supplier of fruit and vegetables fall by up to seven percent. The brand, which is known for its canned pineapple, among other things, achieved sales of $ 2.32 billion less than hoped for in the third quarter. Revenues were also lower than expected, which the company attributed to supply chain problems, among other things. In addition, problems in the personnel area had a negative impact on vegetable production.
Biontech, Moderna and Novavax: Once again, the vaccine manufacturer’s stocks are the focus of investors. A recently published study from Great Britain, in which the mRNA vaccines performed best in terms of effectiveness, should influence the price development. The Biontech shares listed on the US stock exchange rose by almost three percent, Moderna gained 1.73 percent. The shares of the manufacturer Novavax lost almost one percent.
Didi: Just five months after its debut, Chinese Uber rival Didi, under heavy pressure from China’s regulators, announced plans to withdraw from the New York Stock Exchange. The delisting in the USA will begin immediately. The Uber competitor took to the floor in New York despite the request to postpone the plans and, according to insiders, has been in the sights of the Chinese supervisory authorities since then. According to insiders, Didi wants to be listed on the Hong Kong stock exchange within three months. At the end of the day, the paper was 22.18 percent in the red.
Smith & Wesson: After a decline in sales, many investors threw the shares of the weapons manufacturer Smith & Wesson from the depots. The papers lost around 28.72 percent. In the quarter, the group made 7.3 percent less sales.
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