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Not only the DAX, but also the New York Stock Exchange interrupted its bull run on Tuesday. Investors made a profit, but this is not a major concern.
By Robert Minde, tagesschau.de
In the New York World Exchange on Tuesday, the picture was similar to that of this country. After a quick start, with the Dow Jones leading index at 30,588 points, but also the other leading indices setting new all-time highs, the market gasped after profit taking. At the end of the trading day, they barely moved in balance.
The Dow Jones closed at 30,335, the market-wide S&P 500 at 3,727 points, both slightly in the red. Fluctuations on the Nasdaq technology exchange were also small, only the Nasdaq 100 selection index went public with a slight premium of 0.04 percent at 12,843 points.
Focus on state aid
Despite today’s mini-consolidation, Wall Street’s main driver remains the recent approval of the US President Donald Trump’s Congressional stimulus package. It shows that the bitter political row in Washington continues. Trump has made more demands beyond planned aid. The unemployed are now supposed to receive $ 2,000 instead of the previous $ 600, which the mostly democratically controlled House of Representatives immediately approved.
The outlook for government and monetary policy help to overcome the coronavirus pandemic initially boosted stock exchanges, said Naeem Aslam, chief market analyst at brokerage AvaTrade. Aslam cautioned that the Republican-dominated Senate was unlikely to approve the increase.
Imagination at Intel
Intel was particularly notable on the Dow Jones. Articles were at the top of the index. They were fueled by speculation about a shift in strategic direction from the chip, software and database specialist. According to a media report, hedge fund Third Point has requested a change. Third Point boss Daniel Loeb asked Intel boss Omar Ishrak in a letter to immediately examine all possible options for this.
Third Point is said to have accumulated a US $ 1 billion stake in Intel. With a loss of nearly 18 percent, the stock is so far the fourth biggest loser in this year’s leading index.
DAX’s winning streak is broken
The DAX started with a lot of momentum on Tuesday before some investors pulled out of the market following recent price rises. The leading German index ended up trading at 13,761 points, a slight daily loss of 0.2 percent.
Previously, the leading barometer of the German stock market had set a new record at 13,903 points in the morning. But it was not enough for more, also because there were no subsequent purchases on Wall Street after the friendly opening.
Take a breath is the motto
After the record hunt for the past few days, there seems to be some calm, investors are taking a deep breath. This is not unusual after stronger price movements and does not change the fact that stock market bulls currently have the best end for themselves, on this side and on the other side of the Atlantic.
Because the last minute Brexit, but especially the corona vaccines that have started, are fueling economic hopes. Overcoming the pandemic remains the key scenario in financial markets. The stock market looks to the future and is also being pushed over and over again by the seemingly endless flood of money from central banks.
Tagessieger MTU Aero
Among the individual values in the DAX, the roles of the engine manufacturer MTU Aero were at the top of the DAX, and SAP was also in demand. The Walldorf-based software giant wants to list its US subsidiary on the stock exchange, which was well received by investors. Profits and losses were recorded across all industries. The losers of the day were Delivery Hero after taking profit. However, the paper of the food delivery company rose more than nine percent yesterday.
The euro remains robust
In the foreign exchange market, the euro is recovering from slight gains since the start of the week on Tuesday. The common currency peaked at $ 1.2273. The European Central Bank (ECB) set the reference rate at 1.2259 (Monday: 1.2219) dollars, currently the rate is slightly lower in late deals.
Over the course of the day, the euro rate increased by around half a cent. Market watchers noted the weakness of the dollar, which has influenced developments in the currency market since the beginning of the week and in return gave the euro a boost. The reason given was the greater willingness to take risks on the part of investors, who again make more effort in the financial markets. In this context, currencies like the dollar, which are considered safe investments, are less in demand.
House prices in the US are rising faster than they have in five years
Basically, today there was a downwind of the real estate market in America. There, home prices have skyrocketed during the Crown crisis. October saw the largest increase in more than five years. In the nation’s top 20 metropolitan areas, prices are up 7.95 percent year-on-year, according to the S & P / Case-Shiller index released in New York on Tuesday.
The last time there was a stronger rise was in mid-2014. Analysts were only expecting 6.95 percent growth on average. In a month-over-month comparison, prices were up 1.6 percent and thus were also stronger than analysts expected.
The evolution of prices in the American real estate market shows that the crisis in the crown has hardly caused any damage here. Experts explain this mainly with extremely low interest rates.
Oil prices barely moved
Fluctuations in oil prices on the commodity market remained manageable. Late in the evening, a barrel (159 liters) of Brent from the North Sea was bought for a good $ 51. Market watchers justified the high level with the general good mood on the stock exchanges and new economic hopes. The price of gold rose slightly.
Linde trusts in 2021
Linde, the world’s largest industrial gases company, is aiming for strong growth in 2021. “Assuming stable volumes, I am confident that we will be able to achieve double-digit growth in profit again next year,” said the boss. from Linde, Steve Angel, to the “Handelsblatt”.
The company, which grew out of Munich-based American company Praxair and Linde AG, raised its earnings forecast for the current year again in early November despite the weak economy in the corona pandemic. Earnings per share are expected between $ 8.05 and $ 8.10 (previously $ 7.60 to 7.80), which would be about ten percent higher than the prior year ($ 7.34 per share). Linde shares, which recently performed well on the DAX, are rising with the market.
SAP goes public
SAP’s stock outperforms DAX. The software company wants to bring its subsidiary Qualtrics to the Nasdaq technology exchange. Documents are offered to interested investors in a range of $ 20 to $ 24. Qualtrics is a provider of market research software that enables organizations to collect customer and employee feedback and data for timely analysis and processing. real. SAP paid $ 8 billion for the subsidiary two years ago.
Lufthansa with Swiss fantasy
Lufthansa shares are by a clear margin at the top of the MDAX. Therefore, the recovery of the last trading days continues. Reto Francioni’s statements bring a tailwind. In an interview with the “Neue Zürcher Zeitung”, the chairman of the board of directors of the Swiss subsidiary, Swiss, made positive statements about intercontinental traffic in the coming year.
Vaccine stocks are collapsing
Shares of biotech companies Biontech and Curevac are under significant pressure. One trader was primarily concerned with making a profit once the vaccinations had started. As of Monday, nearly 42,000 people in Germany had received the first dose of Biontech’s corona vaccine. In contrast, the vaccine from the Tübingen company Curevac is still in clinical trials. No application for approval has yet been submitted.
Lower Saxony help for TUI?
TUI share certificates are increasing considerably. There is speculation in the market about a possible state aid from Lower Saxony for the travel company in crisis worth 400 million euros. However, politically these are far from indisputable.
Vaccine Hopes Drive AstraZeneca
The stock exchange honors the seemingly imminent approval of AstraZeneca’s Covid-19 vaccine in the UK and India. The pharmaceutical company developed it together with the University of Oxford.
Samsung expands LCD production
The South Korean electronics company wants to produce longer due to increased demand for LCD components for televisions and monitors. Originally, Samsung wanted to stop production at the end of the current year. However, the demand for LCD panels increased 30 percent in the third quarter. It is not yet clear how long the old technology will continue to be produced.
Boeing 737 MAX returns to the air in the United States
Almost two years after the Boeing 737 Max was banned from flying, the plane is back on the road with passengers in the US American Airlines first used a 737 Max on Tuesday en route from Miami to New York. The machines of this type of aircraft were withdrawn from service in March 2019 after two accidents with 346 deaths.
The main cause of the accidents was a faulty control program that directed the machines towards the ground. After a series of technical changes and software improvements, the American aviation authority FAA again approved the use of the Boeing 737 Max.
