MARKETS US/stock markets rebounded after yesterday’s losses | news

MARKETS US/stock markets rebounded after yesterday’s losses |  news

NEW YORK (Dow Jones) — After the losses of the previous day, the US stock exchanges show up again on Thursday. However, given the ongoing uncertainties, the trading environment continues to be characterized by high volatility. The announced resignation of British Prime Minister Liz Truss should also contribute to this. The current reporting season is also causing movement.

Around noon (New York local time), the Dow Jones index is 0.9 percent higher at 30,700 points, the S&P 500 is up 0.7 percent. The Nasdaq Composite is up 1.2 percent.

Significantly rising market interest rates weighed on share prices on Wednesday. Yields continue to rise on Thursday, but at a much slower pace. The yield on ten-year US bonds reached its highest level since the end of 2007. The yield on ten-year paper is currently rising by 2.2 basis points to 4.16 percent. Investors fear that rising interest rates combined with stubbornly high inflation could stall the economy.

Tesla gives way – AT&T with a clear plus

Tesla shares are down 3.8 percent, but are recovering from higher losses. The electric car maker reported record profits, but analysts had expected even more.

IBM (+4.1%) performed well on an adjusted basis. American Airlines benefited from solid air travel demand in the third quarter. Revenues significantly exceeded the pre-Corona level, although the group raised prices and had less capacity. The stock is still down 2.0 percent, which is probably due to profit-taking.

At Philip Morris (-1.1%), sales did not shrink as much as expected. The US tobacco company has meanwhile increased its takeover bid for Swedish Match AB. Dow (+3.9%) posted declines in sales and earnings in the third quarter, but exceeded expectations.

AT&T achieved strong growth in the mobile phone business in the third quarter. For this, the company is now more confident. The share gained 9.2 percent.

In addition, the market has to process some economic data. The number of initial applications for unemployment benefits fell surprisingly last week and shows that the employment situation is still good. The Philadelphia Fed index for October recovered to -8.7 from -9.9 in September. Economists had expected a level of -5.0 here.

The index of leading indicators fell by 0.4 percent for September. A drop of 0.3 percent compared to the previous month had been expected. Existing home sales fell less than expected in September.

Dollar lighter – oil prices rise slightly

In the forex market, the dollar is bouncing back a bit after yesterday’s rise. The dollar index fell 0.5 percent. The pound rose against the dollar after British Prime Minister Liz Truss announced her resignation after less than two months in office. However, relief at the end of the prime minister’s chaotic governance is now offset by uncertainty about what will happen next.

Oil prices are on the rise again. The price of the Brent grade rose by 0.8 percent, WTI by 1.6 percent. They are benefiting again from the decline in US oil stocks, which was already reported on Wednesday. In addition, speculation is based on an end to the corona restrictions in China, which should result in a sharp rise in demand.

The price of gold increases with the weaker dollar. The price of the troy ounce rose by 0.8 percent.

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INDEX last +/-% absolute +/-% YTD

DJIA 30.700,01 +0,9% 276,20 -15,5%

S&P-500 3,719.36 +0.7% 24.20 -22.0%

Nasdaq-Comp. 10.807,95 +1,2% 127,44 -30,9%

Nasdaq-100 11,243.94 +1.3% 140.57 -31.1%

US Bonds

Term Yield Bp to VT Yield VT +/-Bp YTD

2 years 4.56 +0.9 4.55 382.9

5 years 4.37 +0.5 4.36 310.6

7 years 4.28 +1.2 4.27 283.8

10 years 4.16 +2.2 4.14 264.9

30 years 4.17 +4.4 4.12 226.9

FOREX last +/- % Thu 8:25am Wed 5:20pm % YTD

EUR/USD 0,9830 +0,6% 0,9785 0,9787 -13,5%

EUR/JPY 147.22 +0.5% 146.72 146.49 +12.5%

EUR/CHF 0.9829 +0.1% 0.9836 0.9967 -5.3%

EUR/GBP 0,8704 -0,1% 0,8722 0,8697 +3,6%

USD/JPY 149,80 -0,0% 149,96 149,70 +30,1%

GBP/USD 1,1291 +0,6% 1,1219 1,1254 -16,6%

USD/CNH (Offshore) 7,2278 -0,6% 7,2467 7,2646 +13,7%

Bitcoin

BTC/USD 19.267,10 +0,4% 19.121,63 19.220,54 -58,3%

ROHOEL last VT-Settlem. +/- % +/- USD % YTD

WTI/Nymex 86,90 85,55 +1,6% +1,35 +23,5%

Brent/ICE 93,14 92,41 +0,8% +0,73 +26,6%

GAS VT-Settlem. +/- EUR

Dutch TTF 124,01 112,51 +10,2% +11,50 +81,7%

METALS last day before +/- % +/- USD % YTD

Gold (Spot) 1.642,02 1.629,15 +0,8% +12,87 -10,3%

Silver (Spot) 18.90 18.48 +2.3% +0.43 -18.9%

Platinum (Spot) 916.95 886.93 +3.4% +30.03 -5.5%

Kupfer-Future 3,44 3,34 +3,1% +0,10 -22,3%

YTD relative to previous day’s close

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Contact the author: maerkte.de@dowjones.com

DJG/DJN/err/cln

(END) Dow Jones Newswires

October 20, 2022 12:09 PM ET (4:09 PM GMT)

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