Dow Jones opens weaker

Wall Avenue

The slowdown within the variety of preliminary jobless claims is disappointing for US traders.

(Photograph: AFP)

Dusseldorf Unsettled by new Corona circumstances, traders on Wall Avenue remained on cowl on Thursday. The Dow Jones index of normal values ​​closed 0.2 p.c decrease at 26,080 factors. In distinction, the technology-heavy Nasdaq superior a average 0.Three p.c to 9943 factors. The broad S&P 500 gained 0.1 p.c to 3115 factors.

“Traders are desperately searching for one thing to be optimistic about, however we’re not but over the hill,” mentioned portfolio supervisor Katerina Simonetti from UBS Personal Wealth Administration. Corona infections are rising quickly in a number of US states. Then there’s the outbreak within the Chinese language capital Beijing. The concern of a second wave within the coronavirus pandemic additionally weighed on the inventory exchanges in Europe. A spectacular drop within the value of the Dax group Wirecard additionally boosted the heartbeat of the inventory market. The main German index misplaced 0.eight p.c to 12,281 factors.

With out vaccination or an answer to this well being drawback, the financial system would proceed to endure from the pandemic, mentioned funding strategist Nate Fischer from Strategic Wealth Companions. This was additionally proven by the continued tense scenario on the US labor market. Final week, greater than 1.5 million residents utilized for state help for the primary time. Economists surveyed by Reuters had anticipated a drop to 1.Three million. The quantity has been falling steadily because the peak of just about seven million on the finish of March, however extra slowly than anticipated. “It is a big quantity for an financial system that’s opening up once more,” mentioned US chief economist TS Lombard in New York, Steven Blitz, concerning the present growth.

The Federal Reserve is anticipating the world’s largest financial system to get better. A full restoration can solely be anticipated if residents are satisfied that the corona pandemic will probably be contained, Fed chief Jerome Powell emphasised at his listening to earlier than the congress this week.

Have a look at the person values

Among the many particular person shares, the papers of the cruise line Carnival Corp, which was badly hit by the virus disaster, have been the main focus of traders with a lack of 1.Four p.c. The Aida mother or father firm posted a internet lack of $ 4.Four billion within the second quarter. A yr in the past, Carnival had earned $ 451 million. Income decreased from $ 4.eight billion to $ 700 million. This missed the already low market expectations.

Biogen’s shares dropped 7.5 p.c after a West Virginia court docket invalidated the patent for Biogen’s bestseller Tecfidera in opposition to a number of sclerosis for lack of a written description. The biotech firm had $ 3.Three billion in gross sales in america final yr from Tecfidera.

The US cellular operator T-Cell US, which belongs to the Bonn-based Telekom group, can have a brand new CFO from July 1. Peter Osvaldik succeeds Braxton Carter, who has been with the group for round 19 years and is now retiring. The shares rose by round 3.7 p.c.

The US grocery store chain Kroger inventory dropped greater than three p.c. After a rise in gross sales prior to now quarter, the Group assumes that the rise will decelerate. Traders additionally rated it negatively that Kroger didn’t present a concrete annual forecast.

Extra: That is how the buying and selling day on the Frankfurt Inventory Alternate went.

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