Thursday November 11, 2021
Disney disappoints, honest not
US stock exchanges are only recovering slightly
Overall, little is happening on Wall Street. The fact that “Veterans Day” was celebrated in the USA may also have played a role, which is why business on the bond market paused. A Hollywood star still shines on the trading floor thanks to diapers and baby oil.
After the shock of the high US inflation rate, US investors are returning to the stock markets. Above all, tech stocks went to the depots on Thursday. The index of the technology exchange Nasdaq gained 0.5 percent to 15,704 points. The broader one S&P 500 gained 0.1 percent to 4649 points during the Dow Jones Index the standard values were listed 0.4 percent lower at 35,921 points.
The accelerated inflation in America had depressed investor sentiment the day before. The US inflation rate rose surprisingly sharply by 6.2 percent in October, the highest level in 31 years. “But investors are able to look beyond the near future and say, ‘We just have more demand than supply,'” said Arthur Hogan, chief market strategist at National Securities. “And that’s probably a good thing for future earnings growth.”
There was also positive news for the stock exchanges from China. According to insiders, the ailing Chinese real estate developer Evergrande made interest payments on a bond shortly before the grace period expired. That alleviates the fear of investors of bankruptcy, said Jürgen Molnar, capital market strategist from the broker RoboMarkets. EvergrandeShares in Hong Kong rose nearly 11 percent.
A share sale by Tesla boss Elon Musk caused a lot of talk. He sold roughly $ 5 billion worth of shares after voting over a possible share sale on Twitter over the weekend. Tesla-Paper closed 0.4 percent in the red. “The reason we’re seeing stocks rally is because there seems to be method to his madness,” commented AJ Bell analyst Danni Hewson, commenting on Musk’s move. “It’s about making sure the market understands that this isn’t happening on a whim or because his Twitter followers told him to do it. He had already made his decision.”
One day after the successful stock market debut, however, the competition took off Rivian Further. The shares of the electric car maker, supported by Amazon and Ford, climbed up to 22 percent to $ 123. Papers from Walt Disney came under pressure after weaker than expected business figures and dropped by around seven percent. The entertainment giant’s streaming business in particular disappointed investors.
at Boeing Investors put on a larger aircraft order. The titles of the US group gained 0.4 percent. According to a report by the Bloomberg agency, the Indian billionaire Rakesh Jhunjhunwala and his start-up Ariline Akasa Air could be interested in Boeing planes. This involves 70 to 80 737 MAX jets. Strong sales growth sent Fossil shares soaring. The watchmaker’s papers gained around 25 percent. The group expects global net sales to increase by 19 percent in 2021, compared to 17 percent previously expected.
The company specializing in ecologically harmless baby hygiene Honest by Hollywood star Jessica Alba also surprised positively with growth above expectations. The shares gained more than ten percent. In the largest division of diapers and wet wipes, quarterly sales climbed by 16 percent, while the brand, which has been listed on the stock exchange since May, rose by 28 percent for care products.