Friday July 30th 2021
Slight declines on Wall Street
Investors take profits at the end of the month
The month of July was very successful on Wall Street, as investors are still taking a few profits. The indices in the USA are therefore a little weaker – Amazon in particular has to give up properly. Luxury brands, on the other hand, seem to be trendy.
The US stock exchanges saw discounts at the end of the trading week. On the last trading day of a successful month on the stock market, investors tended to take profits with ever new record highs. Especially since they are a little concerned that the recent increase in the number of corona cases could stall the recovery of the economy. The recently tightened regulatory measures against domestic technology companies by China also dampened sentiment. The reporting season also caused movement on the stock exchanges.
the Dow Jones Index closed 0.4 percent lower at 34,936 points, the S&P 500 yielded 0.5 percent. the Nasdaq composite lost 0.7 percent. A significant minus in the Amazon share also had a negative impact here. There were a total of 1290 (Thursday: 2266) course winners and 2021 (1042) losers. 121 (151) titles closed unchanged.
Published economic data had both light and shade to offer. Personal income data showed that spending rose slightly more than expected in June. And contrary to expectations, incomes have increased slightly. Meanwhile, US consumer sentiment weakened in July. the Uni Michigan Index However, consumer sentiment did not fall as sharply as economists expected. The mood of purchasing managers from the Chicago area brightened noticeably in July.
Amazon give way – Capri with a price jump
On Thursday after the market closed, Amazon and T-Mobile US had published quarterly reports. Amazon (-7.6%) did not increase sales as much as expected and gave a disappointing profit forecast for the current year. The numbers of T-Mobile US (-0.4%) were described as good on the market, which investors apparently used to take profits.
The course of Capri Holdings jumped 12.5 percent after parent company of luxury brands Michael Kors, Versace and Jimmy Choo released surprisingly strong numbers and raised its outlook.
The two oil companies also had business figures Chevron (-0.8) and Exxon Mobil (-2.3%), the construction machinery manufacturer Caterpillar (-2.7%), the consumer goods company Procter & Gamble (+ 2.0%) as well as the pharmaceutical manufacturer Abbvie (-2.2%) submitted. Although almost all of them were convincing, investors also took profits here in many cases.
Dollar a little firmer
the dollar recovered somewhat from the setback of the past two days that began on Wednesday when the US Federal Reserve reiterated its loose monetary policy stance and resumed Thursday with below-expectations GDP. The dollar index rose by 0.3 percent.
Investors were concerned about a more bumpy economic recovery Government bonds grasp. Rising prices depressed the ten-year yield by 3.8 basis points to 1.23 percent. There was, however, little movement in oil prices. They increased moderately. the Gold price yielded a little with the stronger dollar.
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