Wall Street treads on the spot: buying mood fizzles, records crumble

Wall Street is standing still
Buying mood fizzles, records crumble

How won, so melted away: Wall Street starts the day lively, but the records are over again in the evening. Good economic data and generous bank dividends are not enough for a sustained high. Only the shares of the vaccine manufacturer Moderna managed to make a big plus.

The record run on the US stock exchanges continued with small steps. The Dow Jones Industrial However, it still lags behind. His early gains also fizzled out and so he ended the day almost unchanged at 34,292 points. Also the market breadth S&P 500 stepped on the spot at 4,292 counters. In early trading, for the first time in its history, it managed to break the 4300 point mark. The Nasdaq stock exchanges, which are mainly peppered with technology stocks, also topped their records and were able to hold them. The selection index Nasdaq 100 ultimately moved up 0.3 percent to 14,573 points.

However, the economic data hardly moved the indices. The real estate market continues to record strong price increases. In addition, the mood of US consumers surprisingly brightened significantly and rose again to the level shortly before the Corona crisis. “Even if the recovery in mood is impressive, it is only partially reflected in the spending behavior of consumers,” said market analyst Michael Hewson from CMC Markets and recalled the fall in retail sales in May.

Banks distribute more money to shareholders

Morgan Stanley 90.64

On the corporate side, the focus was primarily on the banking sector. The leading Wall Street banks want to distribute more money to shareholders after passing the stress test. Morgan Stanley about wants to double the quarterly dividend to 70 US cents and use up to twelve billion dollars for share buybacks. In the S&P 100, the papers achieved a top value of 3.4 percent, while the paper the Citigroup at the end of the index it lost 2.6 percent. This bank does not want to change its previous plans for the time being. The Dow members Goldman Sachs and JPMorgan meanwhile, like Morgan Stanley or the want Bank of America (BofA) raise their dividend, which brought Goldman shares up 1.1 percent. The profits of JPMorgan shares disappeared into thin air by the end of trading, at the end of the day they were down 0.1 percent. BofA’s shares fell 1.6 percent.

Moderna Inc.
Moderna Inc. 197.68

The focus also shifted to the proportions of Moderna, which jumped to a record high and finally brought in a plus of 5.2 percent. They benefited from the fact that India has now also approved the US biotech company’s corona vaccine. In addition, according to the company, the Moderna vaccine also stimulates an immune response against the Corona variant Delta (B.1.617.2), which first appeared in India.

The euro hovered around the US $ 1.19 mark in US trading and then cost US $ 1.1900 at the close of the Wall Street market. The European Central Bank (ECB) set the reference rate in the afternoon in Frankfurt at 1.1888 (Monday: 1.1910) dollars. The dollar cost 0.8412 (0.8396) euros. On the US bond market, the futures contract for ten-year Treasuries (T-Note Future) rose by a small 0.02 percent to 132.27 points. The ten-year bond yield fell to 1.476 percent.

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