US stock exchanges in wait: Wall Street holds its breath before accounting season


US stock exchanges in wait
Wall Street holds its breath ahead of accounting season

Wall Street is still struggling after the weak start to the week. The indices are treading on the spot – but the balance sheet season of the big financial institutions is set to change towards the weekend.

The persistently high numbers of coronavirus infections are once again causing problems for Wall Street. The hope of a quick recovery of the economy from the consequences of the pandemic prevented, according to stock exchange traders, major price losses. The leading index Dow Jones Industrial said good bye 0.19 percent higher at 31,068.69 points from the trade. For the broad market S&P 500 was it about 0.04 percent to 3801.19 points high. The technology index shaken yesterday The Nasdaq 100, however, fell 0.08 percent to 12,892.09 points.

"On average, the markets look three to six months into the future," said portfolio manager Matt Stucky of asset manager Northwestern Mutual. This makes it easier to push current events such as the storm on the Capitol last week or the rising number of coronavirus infections into the background. Investors focused on the upcoming mass vaccinations and the prospect of additional government stimulus.

General Motors (GM)
General Motors (GM) 47.82

In addition, the upcoming balance sheet season is moving more and more into the focus of investors, said portfolio manager Keith Buchanan from asset manager GlobAlt. Ring on Friday Citigroup, JPMorgan, and Wells Fargo the numbers. "The big question will be how much extra cash you will set aside for loan losses," said investment strategist Michael Hewson of brokerage firm CMC Markets. It will also be interesting to see whether some financial houses will resume dividend payments and share buybacks. Citi, Wells Fargo, and JPMorgan stocks rose as much as 2.1 percent.

The same applied to the papers of General Motors (GM) who are prices rose by 6.2 percent. The car manufacturer enters the business with electrically powered delivery vehicles. The first 500 BrightDrop vehicles are to be delivered to the FedEx parcel service this year.

Wall Street favorites also included papers from oil companies like Exxon or Chevronwho deal with each more than two percent more expensive. With its voluntary additional production cuts, Saudi Arabia ensures that demand remains above supply, said Commerzbank analyst Eugen Weinberg. With this in mind, investors were betting on falling US crude stocks, added stockbrokers. This helped the US variety WTI to a Price increase 1.9 percent to $ 53.11 per barrel (159 liters).

Meanwhile, it became more expensive Bitcoin after a rollercoaster ride until the evening three percent to $ 33,989after the virtual currency crashed about 30 percent in the past few days. The cryptocurrency market is still divided, said analyst Timo Emden from Emden Research. "Critics are likely to feel confirmed, while courageous speculators make renewed commitments."

. (tagsToTranslate) stock trading (t) Dow Jones (t) Wall Street