Beyond Meat is going through the roof: Feeders are taking advantage of the snack project

Beyond Meat is going through the roof
Investors access the snack project

Beyond Meat and Pepsico team up for a joint venture and send the stock market into euphoria. At times, the papers of the meat substitute specialist go up 39 percent. Otherwise, the day on Wall Street is far less exciting.

One day before the Fed's monetary policy consultations, US investors held back from investing in the stock market. They also waited eagerly for the company balance sheets from large technology groups such as Microsoft, Apple and Facebook. The S&P 500 index hit a record high in early trading, but then ran out of steam.

Dow Jones 30,937.04

In the most recent quarterly figures, the positives and negatives were roughly in balance. The leading US index Dow Jones Industrial went 0.07 percent lower at 30,937.04 points at the end of the trade. It had already closed slightly in the red on Monday. The broader S&P 500 fell 0.15 percent to 3849.62 points Tuesday after peaking at just under 3871 points in early trading. For the tech-savvy Nasdaq 100 it went up by 0.05 percent to 13,490.19 points.

In the Dow, stocks moved off 3M by 3.3 percent. After a surprisingly good business development at the end of 2020, the conglomerate is starting the new year with confidence. The papers of Johnson & Johnson (J&J) gained 2.7 percent. The pharmaceutical and medical technology group did better than expected in the corona pandemic thanks to good business in the pharmaceuticals division.

General Electric
General Electric 11.29

In contrast, the shares of American Express more than four percent at the Dow end. At the end of the year, the credit card provider had suffered considerably from the reluctance of customers to buy in the Corona crisis. Verizon Dare to do better business in 2021. However, the telecommunications giant recorded fewer contract customers than hoped for in the wireless business in the past quarter. The shares fell by a good three percent. The papers of the former Dow veteran were among the favorites in the S&P 500 General Electricwho gained 2.7 percent. Investors here focused on the better than expected outlook for cash inflows. This was seen by investors as a signal that the turnaround in business is gaining momentum.

Hard times for private prison operators

A real course fireworks burned the papers off Beyond Meat which jumped by almost 18 percent. At the start of trading, there was even a plus of a good 39 percent. The Meat substitute specialist and the beverage and food giant Pepsico join forces. Both companies announced a joint project to develop, manufacture and market plant-based drinks and snacks. Pepsico's shares rose by a good 1 percent.

Beyond Meat
Beyond Meat 186.83

But went downhill Stocks of prison operators. "The Geo Group" fell by almost eight percent and CoreCovic by almost six percent. The new US President Joe Biden wants to end the use of privately operated prisons by the federal government. Biden signed an order directing the Justice Department not to renew contracts with privately operated penal institutions. The move is part of a whole series of measures the president claims to be taking against structural racism and promoting equal treatment for all Americans.

The Euro traded at $ 1.2164. The European Central Bank had set the reference rate at 1.2143 (Monday: 1.2152) dollars. The dollar cost 0.8235 (0.8229) euros. The futures contract for ten-year Treasuries (T-Note Future) was most recently down by 0.02 percent at 137.40 points. The yield on the ten year bond was 1.04 percent.

. (tagsToTranslate) Dow Jones (t) Wall Street (t) American Express (t) 3M (t) Johnson & Johnson (t) Verizon Communications (t) General Electric (t) PepsiCo