NEW YORK (Dow Jones) – The US stock exchanges ended trading mostly with slight premium in the middle of the week, while the Dow Jones index exercised restraint. Technology stocks, which often have a higher proportion of debt, benefited from lower market interest rates.
The Dow Jones index closed almost unchanged at 34,378 points, the S&P 500 gained 0.3 percent. The technology-heavy Nasdaq composite was 0.7 percent stronger. There were a total of 2,067 (Tuesday: 1,987) course winners and 1,234 (1,302) losers. 127 (148) titles closed unchanged.
The eagerly anticipated consumer prices were 5.4 percent, slightly higher than the expected 5.3 percent. Given the current main theme of inflation, they attracted increased investor interest. According to Helaba’s market strategists, the inflation data do not provide the US monetary authorities with any reason to abandon their planned throttling of bond purchases. The yield on ten-year paper was listed 3.1 basis points lower at 1.54 percent.
At their council meeting in September, the US Federal Reserve examined plans to reduce the bond purchase program this year. According to the minutes published on Wednesday, the bond purchases could possibly be stopped completely by the middle of next year.
In the past few days, fears of inflation had weighed on sentiment in the stock markets, fueled by rising energy prices and persistent bottlenecks in the supply chains. It is still unclear whether and how this will affect the monetary policy of the central banks.
The focus was also on the reporting season for the third quarter, which started on Wednesday. Here investors are hoping to find out whether the higher costs for energy and raw materials have diminished the results. JP Morgan, Blackrock and Delta Air Lines kicked off the event, with other major banks and other companies following on the rest of the week.
Oil prices hardly changed – dollars under pressure
Oil prices were slightly lower at a high level. According to reports, nuclear talks with Iran could possibly resume as early as this week. Should an agreement be reached here, more Iranian oil should come onto the market and depress prices. The eyes were also directed to the weekly crude oil storage data published by the private American Petroleum Institute late in the evening (CEST).
The dollar came under pressure after its recent soaring. The DXY dollar index was down 0.5 percent. However, participants saw this only as an interruption in the upward trend, which is supported by the expectation of a tighter monetary policy. The price of gold rose with the weaker dollar and lower bond yields, which make the non-interest-bearing precious metal more attractive.
Apple shares easier with reduced production – Blackrock with price jump
For the Apple share it went down 0.4 percent. According to a media report, the technology group has to lower its production target for the iPhone 13 due to the global shortage of chips. According to another report, Apple is examining the potential of the AirPods as a health device, for example for applications to improve hearing or to measure body temperature. Qualcomm shares, on the other hand, rose 1.7 percent. The semiconductor manufacturer has announced a $ 10 billion share buyback program.
Blackrock’s titles gained 3.8 percent. The asset manager increased its profit in the third quarter much more clearly than expected by observers. Average assets under management grew 24.8 percent to $ 9.58 trillion.
JP Morgan clearly outperformed earnings expectations. However, it is not entirely surprising given the good trading environment in the markets, it is said. What is striking is the strong increase in assets under management, which jumped 17 percent. The share fell 2.6 percent, however, it has gained over 30 percent in value since the beginning of the year, which stimulated profit-taking. Bank stocks were also negatively impacted by the lower market interest rates.
Delta Air Lines buckled 5.8 percent. The airline has warned of burdens due to increased fuel prices.
INDEX last +/-% absolute +/-% YTD
DJIA 34.377,81 -0.0% -0.53 + 12,3%
S&P-500 4.363,80 +0,3% 13,15 +16,2%
Nasdaq-Comp. 14.571,64 +0,7% 105,71 +13,1%
Nasdaq-100 14.774,60 +0,8% 112,49 +14,6%
Maturity Yield Bp to VT Yield VT +/- Bp YTD
2 years 0.36 2.4 0.34 24.5
5 years 1.08 0.5 1.07 71.7
7 years 1.37 -1.9 1.39 72.0
10 years 1.54 -3.1 1.57 62.5
30 years 2.04 -5.8 2.10 39.3
Forex last +/-% Wed, 8:35 a.m. Tue, 5:30 p.m.% YTD
EUR/USD 1,1593 +0,5% 1,1550 1,1544 -5,1%
EUR/JPY 131,35 +0,3% 131,08 131,20 +4,2%
EUR/CHF 1,0710 -0,2% 1,0732 1,0736 -0,9%
EUR/GBP 0,8486 -0,0% 0,8485 0,8486 -5,0%
USD/JPY 113,32 -0,3% 113,48 113,65 +9,7%
GBP/USD 1,3662 +0,5% 1,3611 1,3603 -0,0%
USD/CNH (Offshore) 6,4282 -0,4% 6,4510 6,4530 -1,2%
BTC/USD 57,367.50 +2.3% 55,387.01 56,435.26 +97.5%
ROHOEL zuletzt VT-Settl. +/- % +/- USD % YTD
WTI/Nymex 80,58 80,64 -0,1% -0,06 +68,4%
Brent/ICE 83,28 83,42 -0,2% -0,14 +64,2%
METALS last previous day +/-% +/- USD% YTD
Gold (Spot) 1.792,18 1.760,08 +1,8% +32,10 -5,6%
Silver (spot) 23.06 22.58 + 2.1% +0.48 -12.6%
Platinum (Spot) 1.022.45 1.011.05 +1.1% +11.40 -4.5%
Kupfer-Future 4,49 4,33 +3,8% +0,17 +27,5%
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(END) Dow Jones Newswires
October 13, 2021 16:17 ET (20:17 GMT)