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NEW YORK (Dow Jones) – Revived concerns about tensions between the Americans and the Chinese did not last Monday on Wall Street. During the morning trade, the buyers reached the lowest level. The market was talking about the fact that the momentum came from the oil market, where prices rebounded massively. Consequently, energy values were sought, Exxon gained 4 percent on the Dow.
But technology stocks were again among the favorites. Amazon’s share has already advanced 1.3 percent. It had plummeted in numbers on Friday, but had previously grown strongly in the wake of the crown pandemic. Apple gained 1.4 percent. The fact that the US order entry USA It fell even more sharply in March than was feared not a burden.
The courses were initially depressed because the United States Secretary of State, Mike Pompeo, again attacked China in the debate on the origin of the coronavirus pandemic. There is “overwhelming evidence” that the new pathogen comes from a laboratory in the Chinese city of Wuhan, Pompeo said. Investors were concerned that new trade tensions could emerge.
The Dow Jones Index gained 0.1 percent to 23,750 points. The S&P 500 Index was up 0.4 percent and the Nasdaq composite even 1.2 percent. The only 1,369 (Friday: 401) winners of the course on the NYSE were matched by 1,569 (2,568) losers on Friday. 63 (39) shares closed unchanged.
Investors also acted cautiously due to statements by renowned lead investor Warren Buffett. At first, he sounded optimistic about the future of the American economy. But he currently sees no investment opportunities, Buffett said. He sees the situation in the aviation and energy sectors, as well as that of small businesses, as particularly difficult. When Buffett says I don’t see opportunities, that’s an important statement, said Greg Harmon, founder and president of Dragonfly Capital.
However, easing regulatory requirements in the wake of the coronavirus pandemic is not working smoothly in some states. The warm climate pushes people in the United States onto the streets and generates more and more conflicts with law enforcement officers. Meanwhile, the President of the United States, Trump, is pushing for the conditions to end quickly to stop the historic economic recession.
China’s conflict loses terror
It was sold on the bond market. The performance of US government bonds. USA At ten years it increased 2.4 basis points to 0.64 percent. The fall in pension prices was seen as evidence that concerns about a new conflict between the United States and China were markedly reduced. However, the dollar increased with the greatest uncertainty, the ICE dollar index gained 0.5 percent.
Oil prices advanced massively. The participants referred to the reduction of funds in the USA. USA, Canada and Norway, which are added to the cuts decided by Opec +. However, a new tariff conflict between China and the United States could further overload the already extremely weak demand or at least dampen the possibility of a recovery in demand, said in the trade. Prices were correspondingly volatile. In recent trades, US light oil WTI gained 8.2 percent at $ 21.40 and European benchmark Brent oil 5.6 percent at $ 27.93 a barrel.
The price of gold rose 0.2 percent to $ 1,703 per troy ounce. Participants saw a small technical reaction after the weakness in late April, also fueled by new uncertainty surrounding tensions between the United States and China.
Hard landing for aviation values
Aviation stocks were in free fall. United Airlines had recently spoken of the worst crisis in civil aviation. In addition, Berkshire Hathaway, the financial vehicle of investor legend Warren Buffett, has announced its exit from the sector. Delta Air Lines, United Airlines, American Airlines, and Southwest Airlines collapsed to just under 8 percent. Boeing lost 1.4 percent in the trailer. Buffett had characterized business development at the aircraft manufacturer as difficult to assess. Tyson Foods lost 7.8 percent after weak quarterly figures.
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LAST INDEX + / -% absolute + / -% YTD
DJIA 23,749.76 0.11 26.07 -16.78
S & P-500 2,842.74 0.43 12.03 -12.01
Nasdaq Comp. 8,710.72 1.23 105.77 -2.92
Nasdaq-100 8,834.11 1.33 115.93 1.16
US bonds
Yield maturity bp to VT yield VT +/- bp YTD
2 years 0.18 -1.2 0.20 -101.8
5 years 0.35 0.5 0.35 -157.3
7 years 0.53 2.4 0.51 -171.6
10 years 0.64 2.4 0.61 -180.6
30 years 1.29 3.7 1.25 -178.1
COINS last + / -% Monday, 9:11 Friday, 9:00 p.m.% YTD
EUR / USD 1.0898 -0.68% 1.0937 1.0977 -2.8%
EUR / JPY 116.32 -0.77% 116.83 117.30 -4.6%
EUR / CHF 1.0526 -0.33% 1.0540 1.0555 -3.0%
EUR / GBP 0.8759 -0.34% 0.8780 0.8789 + 3.5%
USD / JPY 106.73 -0.10% 106.80 106.85 -1.9%
GBP / USD 1.2443 -0.33% 1.2457 1.2491 -6.1%
USD / CNH (offshore) 7.1303 -0.07% 7.1374 7.1387 + 2.4%
Bitcoin
BTC / USD 8,867.76 + 0.13% 8,592.26 8,715.01 + 23.0%
ROHOEL latest VT-Settl. + / -% +/- USD% YTD
WTI / Nymex 21.40 19.78 + 8.2% 1.62 -64.0%
Brent / ICE 27.93 26.44 + 5.6% 1.49 -56.0%
METAL the last day before + / -% +/- USD% YTD
Gold (Spot) 1,703.29 1,700.22 + 0.2% +3.08 + 12.3%
Silver (point) 14.79 15.01 -1.5% -0.22 -17.2%
Platinum (spot) 767.85 765.60 + 0.3% +2.25 -20.4%
Future copper 2.33 2.32 + 0.4% +0.01 -17.1%
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DJG / DJN / raz
(END) Dow Jones Newswires
May 04, 2020 16:25 ET (20:25 GMT)
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