(Photo: AP)
new York The rally on the US stock market only continued in part on the second trading day of the new year: Right at the start on Tuesday, the Dow Jones Industrial and S&P 500 climbed to a record high. In the further course, however, the profits crumbled again. The market-wide S&P even turned into the red. In addition, investors only touched technology stocks with the tip of their fingers. As a result, the Nasdaq indices plummeted.
Ultimately, the Dow ended the day up 0.59 percent to 36,799 points. The S&P 500 fell after an increase to just under 4819 points by 0.06 percent to 4793 points. The technology-heavy Nasdaq 100 lost 1.35 percent to 16,279 points.
The much-noticed ISM sentiment data from the industry in December turned out to be weaker than expected, but according to experts it still shows a lot of confidence. The violent Omikron wave in the USA is likely to temporarily weaken economic growth, but the first data published this year suggested that the US economy was fundamentally very strong, according to experts at ING. Robust growth and inflation should keep the Federal Reserve on track to hike rates.
The euro went up and down in US trade. At times it clearly exceeded the $ 1.13 mark again, and then at close of trading on Wall Street it cost $ 1.1283. The European Central Bank set the reference rate in Frankfurt early in the afternoon at 1.1279 (Monday: 1.1355) dollars. The dollar cost 0.8866 (0.8807) euros.
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Foot Locker: The share of the retailer for athletic shoes and clothing fell in the course of trading by more than 3.55 percent. The analysts of the US bank JP Morgan had downgraded the share from “neutral” to “underweight”. The reasons are increasing cost pressure and tougher competition.
Banks: Again, banking stocks were among the favorites: In the Dow, the shares of JP Morgan and Goldman Sachs, in the S&P 100 those of Bank of America, Wells Fargo and Morgan Stanley rose by three to four percent. Investors also grabbed the shares of the two automakers GM and Ford, which rose 7.5 percent and 11.7 percent, respectively.
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Under Armor: The US investment bank Baird had upgraded the share from “neutral” to “outperform”. Under Armor rose more than 1.13 percent at times, with Baird analysts expecting the sportswear maker’s stock to benefit from a cyclical rebound in earnings.
Hewlett Packard Enterprise: The shares have been upgraded from “equilibrium” to “overweight” by Barclays. At the close of trading, Hewlett Packard Enterprise was up 3.1 percent.
Toyota Engine: According to a report by the Japanese intelligence service Nikkei, Toyota plans to introduce its own automotive operating system by 2025. The system would be able to control advanced operations such as autonomous driving. Toyota shares rose 6.92 percent. The shares also benefited from the dollar rising to a nearly five-year high against the Japanese yen.
General Electric: General Electric were also among the preferred values with a plus of 3.3 percent. You benefited from an upgrade by Credit Suisse to “Outperform”. After the share price slump between November and Christmas, analyst John Walsh now sees an opportunity to buy. He points to the conglomerate’s cyclical aviation business and its opportunities for recovery.
Apple: The Apple papers on the other hand lost 1.3 percent. The day before, the iPhone manufacturer was the first company in the world to achieve a market value of three trillion dollars. For Tesla it was down 4.2 percent. On Monday, the electric carmaker’s shares were catapulted up by 13.5 percent from strong delivery figures in the fourth quarter of 2021.
More: Bet on winners or hope for a turnaround? These opportunities are in the Dax outliers.