Friday April 30th 2021
Share price fall on Twitter
US stock exchanges are deflating at the weekend
After the recent record highs, investors in the US stock markets have taken some pressure out of the kettle. The Twitter shares collapse by 15.2 percent. The dollar is increasing strongly.
After the new record highs the previous day, the week ended with profit-taking on Wall Street. Traders pointed to a turbulent week with a flood of corporate figures and the meeting of the US Federal Reserve. Despite the price losses on Friday, April was still the best month on the stock market since November for the S&P 500. Weak economic data from China, where purchasing managers’ indices fell in April and missed expectations, also fit into the picture.
In addition, the Corona headlines caused increased concern. The current wave of infections is particularly raging in Japan, Brazil and India. This development could seriously disrupt global supply chains, which could cause prices to rise. This could additionally fuel the already high inflation in the USA, it said.
The Dow jonesIndex lost 0.5 percent to 33,875 points. The S&P 500 fell 0.7 percent to 4,181 points. The Nasdaq Composite decreased by 0.9 percent to 13,963 points. For every 1,074 (Thursday: 1,741) course winners at Nyse there were 2,267 (1,574) losers. 115 (160) titles went unchanged from the market.
In contrast, positive US economic data will not support the market. The mood of purchasing managers from the Chicago area unexpectedly brightened in April. The US consumer sentiment index calculated at the University of Michigan also rose faster than expected in April. In addition, US household incomes rose a record 21.1 percent in March as business stimulus checks hit bank accounts and consumer spending soared.
Reporting season makes the courses – Twitter collapses
The reporting season provided the impetus for individual stocks: Amazon (-0.1%) reported record results for the first quarter, exceeded expectations and is also confident about the current quarter. Initial clear gains could not be maintained. Twitter collapsed by 15.2 percent. Although the results were above expectations, the increase in the number of well-noticed users, which could also weaken further, was disappointing.
Gave in the oil sector Chevron (-3.6%) and Exxon Mobil (-2.9%) after. The corporations recovered significantly from the consequences of the pandemic and beat the earnings expectations. But Chevron implemented less than hoped. The prices were also negatively impacted by falling oil prices.
The pharmaceutical companies Biontech (+ 4.8%) and Pfizer (+ 0.1%) applied to the European Medicines Agency for approval of their corona vaccine for adolescents. The biotechnology company Gilead Sciences (-0.6%) increased its sales in the first quarter thanks to sales of the antiviral drug Remdesivir against Covid-19 by 16 percent, but fell short of expectations overall and also lowered the profit outlook.
US Steel (+ 2.3%) presented mixed, unusual business figures. The results of the laser expert came out very badly Microvision on, the course plunged 15.5 percent. The company expanded the quarterly loss. Sales and earnings missed the forecasts.
Dollar attracts Kaplan statements
The dollar rose significantly on the foreign exchange market, and the dollar index rose 0.8 percent. The doubters of a long-term, ultra-loose monetary policy in the US have received support. Dallas Fed President Robert Kaplan believes the US Federal Reserve should discuss tapering its $ 120 billion monthly asset purchases. There are excesses and imbalances in the financial markets. Due to rising economic and, as a result, inflation expectations, the voices of those who argue that the Fed could soon be forced to tighten monetary policy had recently increased.
Oil prices fell by a good 2.0 percent after the most recent strong gains. Participants referred to profit taking before the weekend. In addition, concerns about a decline in demand with the sharp rise in the number of corona cases, especially in India, have intensified again.
The gold price fell slightly with the rising dollar. It was the fourth trading day in a row with levies. On a monthly basis, however, there is an increase of around three percent. On the bond market, prices rose moderately with the weak development on the stock market. The yield on ten-year paper fell by 1.4 basis points to 1.63 percent.
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