(Photo: AP)
New York The US stock exchanges closed on Thursday following a volatile course with slight price losses. After the initial shock regarding a possible sharper tightening of US monetary policy, some calm returned to Wall Street in early business. In late trading, moderate sales set in once more. The US standard value index Dow Jones went 0.5 percent lower to 36,236 points from trading. The technology-heavy Nasdaq was down 0.1 percent to 15,080 points. The broad S&P 500 also lost 0.1 percent to 4696 points. On Wednesday, the market barometer slipped by up to three percent.
The tenor of the transcripts of the recent Fed deliberations suggests that the Fed is concerned regarding inflation, said Nancy Davis, founder of asset manager Quadratic Capital. “We believe the Fed will be more prudent and take more time to assess the economy before embarking on a buoyant rate hike cycle and reducing its holdings.”
Bonds and tech stocks under pressure – banks in demand
The oil price also went up. The US variety WTI increased in price by a good two percent to 79.45 dollars per barrel (159 liters). Commerzbank analyst Barbara Lambrecht cited the unrest in Kazakhstan as one of the reasons. “The country is currently producing an oil production of 1.6 million barrels per day.” Against this background, the stocks of oil companies such as Exxon or Chevron gained up to 2.4 percent.
Kazakhstan is also the world’s largest uranium exporter. Initial speculations regarding supply bottlenecks quickly vanished following the world’s largest uranium producer Kazatomprom announced that mining operations and exports had not yet been affected by the unrest. As a result, the listed Global X fund (ETF) on uranium miners fell 4.1 percent.
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Unrest in Kazakhstan is driving up oil prices
The oil price also went up. The US variety WTI increased in price by a good two percent to 79.45 dollars per barrel (159 liters). Commerzbank analyst Barbara Lambrecht cited the unrest in Kazakhstan as one of the reasons. “The country is currently producing an oil production of 1.6 million barrels per day.” Against this background, the stocks of oil companies such as Exxon or Chevron gained up to 1.7 percent.
Kazakhstan is also the world’s largest uranium exporter. Initial speculations regarding supply bottlenecks quickly vanished following the world’s largest uranium producer Kazatomprom announced that mining operations and exports had not yet been affected by the unrest. As a result, the listed Global X fund (ETF) on uranium miners fell 4.1 percent.
Look at further individual values
Tesla: The shares of Tesla continued to give way. The e-automaker’s shares, which had cost a little more than $ 1200 apiece earlier in the year, lost 2.2 percent and are rapidly approaching the $ 1,000 mark.
Meta: The meta papers went on a recovery course. The shares of the Facebook mother gained 2.6 percent.
Rivian: Rivian’s stocks slumped to a record low of $ 75.13 at times, but reduced their losses significantly by close of trading. They ultimately lost 3.0 percent to 87.33 euros. Amazon’s e-transporter deal with the car manufacturer Stellantis, which became known the day before – a first delivery should be made in 2023 – continued to burden.
AT&T/Vicaom: A possible sale of the TV channel chain CW Network gives the two owners AT&T and Viacom a boost. The shares of the telecom provider and the media group rise by up to two percent. According to the “Wall Street Journal”, the two companies are considering a partial sale and a complete exit. A possible buyer is Nexstar Media, whose titles gain 1.8 percent.
Societe Generale: The favorites also included the shares of ALD, which rose eight percent in Paris. The car leasing company wants to take over rival LeasePlan for 4.9 billion euros. The company expects the deal to improve net profit by five percent from 2024. The titles of ALD parent Societe Generale (SocGen) gained 1.9 percent.
Walgreens: The shares of the drugstore operator slipped 2.9 percent. Although the company beat estimates for the most recent quarter on both the profit and loss side. Walgreens made $ 1.68 per share on an adjusted basis, compared to the consensus estimate of $ 1.33. The demand for Covid-19 vaccinations and tests had boosted profits.
Bed Bath & Beyond: For Bed Bath & Beyond it went up by 20 percent at times, most recently an increase of 8.0 percent was posted. The retailer’s quarterly report was rather mixed due to delivery bottlenecks and the outlook for the fourth quarter fell short of market expectations. According to experts, the paper is still one of the favorites of so-called meme stock traders. These are involved in stocks that are hotly debated among private investors on the Internet. Again and once more there are appeals to buy, which are often followed. Many professional investors, on the other hand, avoid these stocks and sometimes even bet on falling prices.
Constellation Brands: In demand were the papers from Constellation Brands, which rose by up to 1.7 percent to a record high of 257.78 dollars. The quarterly results of the “Corona” brewer were above market expectations thanks to a surprisingly strong wine and spirits business, praised analyst Kevin Grundy of the Jefferies investment bank. The raised profit targets also surprised positively.
Boeing: The US airline Atlas Air has ordered four large 777F cargo planes from the aircraft manufacturer. But the Boeing share is down 0.6 percent. The company announced on Thursday in Seattle that the order was received in December. According to the price list, the order has a total value of around 1.4 billion US dollars (1.2 billion euros). However, high discounts are common when ordering aircraft.
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