(Photo: AP)
new York After the recent price rally, investors are shifting down a gear. The US standard value index Dow Jones closed on Wednesday 0.1 percent higher to 35,754 points. The technology-heavy Nasdaq advanced 0.6 percent to 15,786 points. The broad S&P 500 gained 0.3 percent to 4701 points.
The news from Biontech and Pfizer encouraged stockbrokers that, according to preliminary results of laboratory studies, three doses of their vaccine would provide effective protection against the newly discovered omicron variant of the coronavirus. That is good news, said analyst Fiona Cincotta of the broker City Index. Now it is important to distribute the booster vaccinations as quickly as possible and to prevent new lockdowns.
“Anything that suggests we’re not facing the same problems we were facing earlier this year is positive for most stocks,” said Rick Meckler, partner at asset manager Cherry Lane. The shares of BioNTech and Pfizer were listed after a rollercoaster ride down 3.5 and 0.6 percent respectively.
Relief rally for tourism values
In the case of tourism and leisure values, however, a relief rally could be observed: The titles of the airlines American Airlines, Delta and United gained up to 4.2 percent. The cruise providers Carnival Cruise, Royal Caribbean and Norwegian even advanced up to 8.2 percent. The titles of the casino operators Wynn, Las Vegas Sands and MGM were in some cases more than four percent up.
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Also in demand were the titles from Stanley Black & Decker, which were almost five percent more expensive. The tool provider is selling its electronic security systems business to the Swedish security company Securitas for $ 3.2 billion.
Investors in the US are already turning their attention to next week’s meeting of the US Federal Reserve. According to the latest statements by Fed Chairman Jerome Powell, it is expected that the Federal Reserve will accelerate the reduction in security purchases (the so-called tapering) or more will bother the Fed for the next week, ”said Jeffrey Halley, senior market analyst at OANDA. The analysts are anticipating an increase of 6.7 percent compared to the previous year.
Look at the individual values
Apple: The shares of the iPhone group continued their record hunt. They gained 2.3 percent and were more expensive than ever at $ 175.08. Investors reacted happily to the fact that the iPhone manufacturer managed at the last minute to postpone a relaxation of the app store rules ordered by a court ruling. A US appeals court ruled on Wednesday that if Apple failed in this matter, it could cause significant damage. Therefore, it initially stopped implementing the changes that were supposed to come into force on Thursday.
If the shares gain another five percent, the electronics provider will be the first company to break the $ 3 trillion mark in market capitalization. “Apple seems to be immune to the ups and downs of economic development,” said analyst Susannah Streeter of the brokerage firm Hargreaves Landsdown.
Blackrock: The asset manager is relocating part of their ETF custody. In the future, he no longer wants to have around two trillion dollars in assets held by State Street, but by Citigroup, JP Morgan and Bank of America. The Blackrock share is slightly in the plus with 0.3 percent.
Intel: The chip giant Intel, which has been particularly hard hit by the global shortage of semiconductors, expects the problems in the supply chain to persist for a while – until 2023, predicts CEO Patrick Gelsinger at the CEO Council Summit of the Wall Street Journal. Among other things, he justifies his estimate with the fact that the construction of a new factory takes about three years. For the share of the chip manufacturer it goes down by 0.6 percent.
Toll Brothers: The shares of the luxury house supplier Toll Brothers improved by 1.5 percent. The upward trend was triggered by good numbers. The company’s quarterly profit almost doubled – which clearly exceeded the expectations of the analysts.
McKesson: There was also demand for McKesson stocks, which rose by almost one percent. The pharmaceuticals retailer raised its earnings target for fiscal 2021/2022 to 22.35-22.95 from $ 21.95-22.55 per share. This confirms his assessment that the positive effect of the state coronavirus vaccinations will last longer than expected, said analyst Charles Rhyee of the asset manager Cowen.
Stitch Fix: Stitch Fix’s papers, on the other hand, slumped by almost 24 percent. The online fashion retailer’s customer growth clearly fell short of market expectations, complained analyst Douglas Lane from Lane Research. Although he trusts the company to achieve the previous growth rates again. But it is unclear how long this will take.
More: Bet on winners or hope for a turnaround? These opportunities are in the Dax outliers