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Investors reaped profits on the US stock exchanges

After the long holiday weekend, investors reaped profits on the US stock exchanges after the record levels of the previous week.

Investors reaped profits on the US stock exchanges
Yazar: Tom Roberts

Yayınlanma: 8 Eylül 2021 23:40

Güncellenme: 17 Kasım 2024 00:08

Investors reaped profits on the US stock exchanges

After the long holiday weekend, investors reaped profits on the US stock exchanges after the record levels of the previous week. "Investors are seeing the economy slowing and the outlook becoming a little more opaque. So it's understandable that they don't want to jump in and invest money right away. There are legitimate concerns about the Delta variant, about Chinese and global growth and that Inflation (...) ", said investment strategist Willem Sels from HSBC Private Bank. The Dow Jones index fell 0.8 percent to 35,100 points, the S&P 500 fell 0.3 percent. The Nasdaq Composite, on the other hand, gained 0.1 percent. "The delta variant is beginning to show," said investment strategist Brad McMillan of Commonwealth Financial Network, referring to the rising prices in the technology sector. This is considered the winner of the Corona crisis. The US Federal Reserve should gradually start normalizing its monetary policy despite the weak labor market data. The data is likely to have been due to the leisure and hospitality sector and the rapidly spreading delta variant of the coronavirus, while the industry's labor requirements have not changed, according to BCA. But equity investors did not like to hear such arguments in favor of tighter monetary policy. Meanwhile, Barclays strategists have raised their year-end target for the S&P 500 to 4,600 from 4,400. "We do not believe that the beginning of the tapering leads to a sell-off on the stock market," they justified their new assumption. The stocks from Boeing posted a discount of 1.8 percent. Ryanair, the aircraft manufacturer's most important customer outside of the United States, is no longer planning any new orders for the 737 Max. In addition, deliveries of the 787 Dreamliner are likely to be halted until at least the end of October. Proposals to inspect the aircraft have not been approved by the authorities, according to people familiar with the matter. Among the second-tier stocks, Ford climbed 0.6 percent. The US automaker had hired a former Apple and Tesla board member, Doug Field, to advance new technologies. Match Group jumped 7.3 percent. The matchmaking stock will be added to the S&P 500 on September 20th. The price of the cryptocurrency exchange Coinbase fell 4.2 percent in the wake of Bitcoin. The cryptocurrency benefited on Monday from the fact that El Salvador was the first country to accept Bitcoin as a means of payment. Now the course came back. A positive analyst comment helped Spotify to gain 2.3 percent. Keybanc recommended buying the stocks and increased their price target. Stocks of US aluminum manufacturers reacted late to the military coup in Guinea because of the holiday. The country is an important supplier of bauxite, which is used in the manufacture of aluminum.
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