The record high sales at Tesla are also driving up the share prices of competitors.
(Photo: Reuters)
Frankfurt, New York The US stock exchanges were stronger on the first day of trading in the new year. The Dow Jones rose by 0.4 percent to 36,498 points on Monday. The technology-heavy Nasdaq climbs 0.6 percent to 15,728 points and the broad S&P 500 climbs 0.3 percent to 4774 points.
Experts see room for improvement for the US stock exchanges in the further course of the year, albeit not for similarly large leaps as in the past year. “Since the monetary policy support is waning and the pandemic is not over, next year it should come down to a single-digit percentage increase,” said Robert Greil from the Merck Finck bank recently.
The electric car manufacturer Tesla also started the new year with plenty of tailwind: the share rose a good nine percent in early New York trading after CEO Elon Musk reported the sixth quarterly record for vehicle deliveries on Sunday. From October to December, Tesla delivered 308,600 e-cars to its customers – significantly more than expected. The increased production at the Tesla plant in China also helped.
Deutsche Bank then reiterated its buy recommendation on Monday. The deliveries are “impressive”, according to an analysis. “We continue to assume that Tesla’s strategy for battery technologies, new capacities and, above all, falling costs will help accelerate the transition to electric vehicles. Tesla’s market share could thus be expanded significantly. “
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Analyst Jennifer Liang from investment advisor KGI also praised the numbers. On this basis, she is now expecting 1.48 million units to be delivered in 2022, 58 percent more than in the previous year. At the same time, it is raising its profit forecasts for 2021 and 2022 by eight and 16 percent, respectively.
Tesla can also use the delivery records to distract attention from quality issues. Just last week, the group had to recall almost 700,000 vehicles. The share prices of Tesla rivals Lucid Group and Rivian Automotive temporarily gained a good two and one percent respectively during trading on Monday.
Individual values in focus:
Nio: The ongoing electric car boom is encouraging investors to join Nio. The company doubled sales to 91,429 units in 2021. The Nio share listed in the USA rose at times by around two percent.
Office Depot: The $ 305 million sale of CompuCom IT division boosted Office Depot shares. The titles of the office supplies retailer rise by more than five percent over the course of trading. The company also announced that it would add $ 200 million to its share buyback program.
Microsoft: After e-mails got stuck in some versions of Microsoft’s Exchange software at the beginning of the year, the group published a solution to the problem. The cause of the problem was an incorrect date format in a file for the malware scanner integrated in Exchange. As a result, the antivirus software crashed and made sure that e-mails were not forwarded. Microsoft’s stock lost 1.7 percent at times on Monday.
In the commodity markets oil prices decline on Monday, although Libyan exports are lower than expected due to maintenance work on a key pipeline. The US variety WTI has since fallen by around one percent to a good $ 74 per barrel.
The Brent variety from the North Sea cost around $ 77. The coronavirus pandemic, which flared up again, is dampening the mood to buy, said stockbrokers. Despite the weak demand expected as a result, Opec + will presumably resolve a further increase in oil production quotas at its meeting on Tuesday.
More: These eight stocks are the bearers of hope for the stock market year 2022.