MARKETS USA / After new records, small setbacks at noon | 02/10/21

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NEW YORK (Dow Jones) – After taking a breather the day before, the indices on Wall Street reached new record highs right at the start on Wednesday, but at lunchtime in New York they are moderately in the red.

 The  Dow Jones index is still holding up best, it is almost unchanged at 31,363 points. © www.de24.news

 The  S&P 500 is down 0.2 percent, the Nasdaq Composite by 0.5 percent. An attack of weakness had initially depressed the indices more strongly in morning trading before a partial recovery quickly set in again.

© www.de24.news

 The  determining factors are the same as before: the expectation of a trillion dollar stimulus package from the new US government, progress with the Covid-19 vaccination campaign and falling infection numbers as well as good quarterly reports from companies.

In January, US consumer prices rose only moderately and as expected, because they dampen worries about a more restrictive monetary policy by the US Federal Reserve. © www.de24.news

 The  background to this is that, among other things, rising government spending is likely to be accompanied by a stronger rise in inflation. Fittingly, the former US Federal Reserve Banker William Dudley spoke of a list of factors that could cause an unpleasant rise in inflation. In this context, a speech by Fed Chairman Jerome Powell later in the day will receive additional attention.

Thumbs up to reporting companies

On the corporate side, Coca-Cola (plus 0.3 percent) had to cope with a 5 percent decline in quarterly sales due to the pandemic, but that was not as weak as feared. © www.de24.news

 The  forecasts were also exceeded in terms of profit.

Under Armor are shooting up 8.2 percent. Like Coca-Cola, the sporting goods manufacturer expects sales growth in the high single-digit percentage range in 2021. In 2020 Under Armor also returned to profitability and exceeded sales expectations at the same time.

General Motors (GM) has also exceeded the expectations of the analysts, but the stock is still under pressure and lost 3.9 percent. © www.de24.news

 The  chip shortage currently affecting many car manufacturers could reduce the result by 2 billion dollars in 2021, said GM. In addition, GM is apparently in no hurry to pay out another dividend.

© www.de24.news

 The re are also business figures to process from Twitter, Lyft, Cisco Systems and Mattel. © www.de24.news

 The  Twitter share is up 8 percent. © www.de24.news

 The  short message service closed a quarter with a turnover of over one billion dollars for the second time in its corporate history. © www.de24.news

 The  number of monthly active users increased by 27 percent to 192 million.

Lyft make a jump of just under 6 percent. In terms of sales, the travel agent did better than feared. In contrast, Cisco give 4 percent. © www.de24.news

 The  technology group has exceeded market expectations, but sales in certain segments fell short of expectations.

Mattel give way by 3.4 percent. Here market participants speak of profit-taking after actually good numbers. © www.de24.news

 The  share has already tripled since the March low, it is said.

Eli Lilly (plus 1.1 percent) benefit from the fact that the pharmaceutical company has received emergency approval in the USA for the use of its Covid-19 drug.

© www.de24.news

 The  stock of cannabis company Tilray is up another 27 percent. On Tuesday, a sales agreement with Grow Pharma for Great Britain caused a price fantasy and also drew other industry stocks along with it.

Dollar stabilized

After the weak Tuesday, the dollar has stabilized halfway, falling 0.1 percent – as measured by the dollar index. On the bond market, prices are rising, so yields are falling after the moderate inflation data.

Oil prices are up for the eighth day in a row after both a US industry association and the US energy agency reported significantly lower oil stocks.

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INDEX last +/-% absolute +/-% YTD

DJIA 31.363,18 -0.04 -12,65 2,47

S&P-500 3.902,23 -0,23 -9,00 3,89

Nasdaq-Comp. 13.944,74 -0,45 -62,96 8,20

Nasdaq-100 13.619,09 -0,50 -67,99 5,67

US bonds

Maturity Yield Bp to VT Yield VT +/- Bp YTD

2 years 0.11 0.8 0.11 -0.4

5 years 0.47 -1.3 0.48 10.5

7 years 0.81 -1.5 0.82 15.8

10 years 1.14 -1.9 1.16 22.3

30 years 1.94 -1.3 1.95 28.8

Forex last +/-% Wed, 8:27 a.m. Tue, 5:29 p.m.% YTD

EUR/USD 1,2130 +0,10% 1,2127 1,2096 -0,7%

EUR/JPY 126,98 +0,21% 126,81 126,58 +0,7%

EUR/CHF 1,0788 -0,25% 1,0810 1,0809 -0,2%

EUR/GBP 0,8762 -0,11% 0,8779 0,8773 -1,9%

USD/JPY 104,69 +0,12% 104,54 104,66 +1,4%

GBP/USD 1,3843 +0,20% 1,3823 1,3787 +1,3%

USD/CNH (Offshore) 6,4318 +0,18% 6,4265 6,4243 -1,1%

Bitcoin

BTC / USD 44,680.00 -4.73% 46,277.75 46,394.00 + 53.8%

ROHOEL zuletzt VT-Settl. +/- % +/- USD % YTD

WTI/Nymex 58,72 58,36 +0,6% 0,36 +20,8%

Brent/ICE 61,43 61,09 +0,6% 0,34 +18,8%

METALS last previous day +/-% +/- USD% YTD

Gold (Spot) 1.840,57 1.838,90 +0,1% +1,67 -3,0%

Silver (spot) 27.01 27.30 -1.1% -0.29 + 2.3%

Platinum (Spot) 1.229.10 1.181.23 + 4.1% +47.88 + 14.8%

Kupfer-Future 3,77 3,72 +1,4% +0,05 +7,2%

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Contact the author: [email protected]

DJG / DJN / gos / raz

(END) Dow Jones Newswires

February 10, 2021 12:26 ET (17:26 GMT)





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MARKETS USA records small setbacks noon

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