Wall Street is losing momentum: job data cause disillusionment on US stock exchanges

Wall Street is losing momentum
Job data cause disillusionment on US stock exchanges

After two consecutive days of profits, disappointing US labor market data is dampening investors’ mood to buy on Wall Street. While airlines such as Southwest Airlines and American Airlines are stumbling, a shoe company and a delivery service surprise with increased sales.

After a two-day recovery, the air on Wall Street is gone. The weekly labor market data, which turned out significantly worse than expected, cause some disillusionment. House sales and the leading indicators also missed the forecasts slightly. “A certain bumpiness is to be expected,” says Macro strategist Sebastien Galy of Nordea Asset Management with a view to the labor market data. However, the data offered the US Federal Reserve a continuation of the monetary policy stimuli.

S&P 500 4,367.86

The Dow Jones Index wins 0.1 percent and rises to 34,823 points. The broad one S&P 500 and the tech-heavy one Nasdaq increases by 0.2 and 0.4 percent respectively.

Surprising increase in sales at Domino’s

The chemical company Dow exceeded expectations in terms of earnings and sales. The stock climbed 1.3 percent. The telecommunications company is also advancing AT&T spotlight on the US stock market. On the basis of surprisingly strong customer growth, the mobile operator raised its targets for the year as a whole. The company is now aiming for an increase in sales of two to three percent instead of around one percent.

Southwest Airlines
Southwest Airlines 45.03

Southwest Airlines has posted a higher than feared loss on an adjusted basis, which depresses the share by 3.5 percent. On the other hand, the adjusted loss fell American Airlines lower than forecast, the share is still 1.1 percent.

The papers of Crocs gained almost 14 percent and were at times more expensive than ever at $ 136.50. The clog supplier exceeded market expectations with quarterly sales of $ 641 million and earnings of $ 2.23 per share.

Thanks to new dishes pleased Domino’s Investors with a surprising increase in sales of 3.5 percent. The pizza chain could accelerate its pandemic-related growth, praised analyst Peter Saleh from brokerage company BTIG. The company’s securities rose as much as 14.2 percent to a record high of $ 537.08.

Oil price on the rise – Bitcoin stagnates

Crude oil (WTI)
Crude oil (WTI) 71.78

Meanwhile he pulled Oil price again. The US variety WTI gained 1.6 percent to $ 71.42 a barrel (159 liters). Even with the loosening of the subsidy brake decided by the major exporting countries, demand will exceed supply in the coming months, the analysts at Bank Morgan Stanley forecast.

In terms of cryptocurrencies, built Bitcoin its latest price gains hardly from, although Tesla boss Elon Musk has promised that the electrical manufacturer will accept the cyber currency again as a means of payment. “The days when Musk can sustainably influence the markets with a verbal intervention are apparently numbered for now,” said analyst Timo Emden from Emden Research. In the past few months, the Tesla boss had repeatedly triggered price volatility in Bitcoin & Co with tweets.