US investors are returning to the stock markets
After the shock of the high US inflation rate, US investors are returning to the stock markets. Above all, tech stocks went to the depots on Thursday. The index of the technology exchange Nasdaq rose 0.5 percent to 15,704 points. The broader S&P 500 rose 0.1 percent to 4649 points, while the Dow Jones index of standard values was 0.4 percent lower at 35,921 points.
The accelerated inflation in America had depressed investor sentiment the day before. The US inflation rate rose surprisingly sharply by 6.2 percent in October, the highest level in 31 years. "But investors are able to look beyond the near future and say, 'We just have more demand than supply,'" said Arthur Hogan, chief markets strategist at National Securities. "And that's probably a good thing for future earnings growth."
There was also positive news for the stock exchanges from China. According to insiders, the ailing Chinese real estate developer Evergrande made interest payments on a bond shortly before the grace period expired. That alleviates the fear of investors of bankruptcy, said Jürgen Molnar, capital market strategist from the broker RoboMarkets. Evergrande shares rose nearly 11 percent in Hong Kong.
A share sale by Tesla boss Elon Musk caused a lot of talk. He sold roughly $ 5 billion worth of shares after voting over a possible share sale on Twitter over the weekend. Tesla papers closed with 0.4 percent in the red. "The reason we're seeing stocks rally is because there seems to be method to his madness," commented AJ Bell analyst Danni Hewson, commenting on Musk's move. "It's about making sure the market understands that this isn't happening on a whim or because his
Twitter followers told him to do it. He had already made his decision."
One day after the successful stock market debut, however, the soaring for competitor Rivian continued. The shares of the electric car maker, supported by Amazon and Ford, climbed up to 22 percent to $ 123. Walt Disney papers, on the other hand, came under pressure after weaker than expected business figures and sagged by around seven percent. The entertainment giant's streaming business in particular disappointed investors.
At Boeing, investors placed on a larger aircraft order. The titles of the US group gained 0.4 percent. According to a report by the Bloomberg agency, Indian billionaire Rakesh Jhunjhunwala and his start-up Ariline Akasa Air could be interested in Boeing planes. This involves 70 to 80 737 MAX jets. Strong sales growth sent Fossil shares soaring. The watchmaker's papers gained around 25 percent. The group expects global net sales to increase by 19 percent in 2021, compared to 17 percent previously expected.
Hollywood star
Jessica Alba’s company Honest, which specializes in ecologically harmless baby hygiene, also surprised positively with growth that exceeded expectations. The shares gained more than ten percent. In the largest division of diapers and wet wipes, quarterly sales climbed by 16 percent, while the brand, which has been listed on the stock exchange since May, rose by 28 percent for care products.