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The Dow Jones Industrial is still lagging behind

The record run on the US stock exchanges continued with small steps. However, the Dow Jones Industrial is still lagging behind.

The Dow Jones Industrial is still lagging behind
Yazar: Tom Roberts

Yayınlanma: 30 Haziran 2021 16:21

Güncellenme: 1 Mayıs 2024 21:47

The Dow Jones Industrial is still lagging behind

The record run on the US stock exchanges continued with small steps. However, the Dow Jones Industrial is still lagging behind. Its early gains also fizzled out and so it ended the day almost unchanged at 34,292 points. The market-wide S&P 500 also stepped on the spot with 4292 meters. In early trading, it succeeded for the first time in its history to break the 4300 point mark. The Nasdaq stock exchanges, which are mainly peppered with technology stocks, also topped their records and were able to hold them. The Nasdaq 100 selection index ultimately advanced 0.3 percent to 14,573 points. However, the economic data hardly moved the indices. The real estate market continues to record strong price increases. In addition, the mood of US consumers surprisingly brightened significantly and rose again to the level shortly before the Corona crisis. "Even if the mood recovery is impressive, it is only partially reflected in the spending behavior of consumers," said market analyst Michael Hewson from CMC Markets and recalled the fall in retail sales in May. On the corporate side, the focus was primarily on the banking sector. The leading Wall Street banks want to distribute more money to shareholders after passing the stress test. Morgan Stanley wants to double the quarterly dividend to 70 US cents and use up to twelve billion dollars for share buybacks. The shares rose by 3.4 percent as the top value in the S&P 100, while Citigroup's shares lost 2.6 percent at the end of the index. This bank does not want to change its previous plans for the time being. Dow members Goldman Sachs and JPMorgan, like Morgan Stanley and Bank of America (BofA), want to raise their dividends, which brought Goldman shares up 1.1 percent. The profits of JPMorgan shares disappeared into thin air by the end of trading, at the end of the day they were down 0.1 percent. BofA's shares fell 1.6 percent. The focus also shifted to the shares of Moderna, which jumped to a record high and finally brought in a plus of 5.2 percent. They benefited from the fact that India has now also approved the US biotech company's corona vaccine. In addition, according to the company, the Moderna vaccine also stimulates an immune response against the Corona variant Delta (B.1.617.2), which first appeared in India. The euro hovered around the US $ 1.19 mark in the course of US trading and then cost US $ 1.1900 at the close of the Wall Street market. The European Central Bank (ECB) set the reference rate in the afternoon in Frankfurt at 1.1888 (Monday: 1.1910) dollars. The dollar cost 0.8412 (0.8396) euros. On the US bond market, the futures contract for ten-year Treasuries (T-Note-Future) rose by a small 0.02 percent to 132.27 points. The ten-year bond yield fell to 1.476 percent.
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