MARKETS USA/Slightly lighter – Rising bond yields weigh on stock markets | news

MARKETS USA/Slightly lighter – Rising bond yields weigh on stock markets |  news

NEW YORK (Dow Jones) — After the previous day’s losses, the US stock exchanges closed again on Thursday with discounts. Occasionally clearer surcharges could not be held. The trading environment was characterized by high volatility due to the ongoing uncertainties. The resignation of British Prime Minister Liz Truss also contributed to this. The current reporting season also caused movement.

The Dow Jones index closed 0.3 percent lower at 30,334 points, the S&P 500 was 0.8 percent lighter. The Nasdaq Composite was down 0.6 percent. There were a total of 1,028 (Wednesday: 776) winners and 2,123 (2,455) losers. 104 (132) titles closed unchanged.

Significantly rising market interest rates had already weighed on share prices on Wednesday. Yields continued to rise on Thursday. The 10-year yield rose 9.2 basis points to 4.23 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 fell 6.6 percent. The electric car maker reported record profits, but analysts had expected even more.

IBM (+4.7%) reported an increase in revenue in the third quarter due to higher demand in the software, consulting and infrastructure segments. The management of the IT group was more confident about sales for the year as a whole.

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 share was still 3.8 percent, which is probably due to profit-taking.

At Philip Morris (-1.7%), sales did not shrink as much as expected. The US tobacco company has meanwhile increased its takeover bid for Swedish Match AB. Dow (-0.4%) posted declines in Q3 sales and profit but beat 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 7.7 percent.

In addition, the market had to process some economic data. The number of initial applications for unemployment benefits fell surprisingly in the previous week and testified to the continued good employment situation. 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 moderately lighter

In the forex market, the dollar was moderately weaker after yesterday’s rise. The dollar index fell 0.1 percent. The pound rose sharply against the dollar at times after British Prime Minister Liz Truss announced her resignation after less than two months in office. Gains crumbled again, however, as relief at the end of the Prime Minister’s chaotic governance is now offset by uncertainty about what will happen next.

Oil prices were little changed. The price of the Brent and WTI grades each increased by 0.2 percent. There was speculation on the market about an end to the corona restrictions in China, which should result in a sharp increase in demand.

The price of gold fell slightly. The price of the troy ounce fell by 0.1 percent.

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

DJIA 30.333,59 -0,3% -90,22 -16,5%

S&P-500 3,665.76 -0.8% -29.40 -23.1%

Nasdaq-Comp. 10.614,84 -0,6% -65,66 -32,2%

Nasdaq-100 11,046.71 -0.5% -56.67 -32.3%

US Bonds

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

2 years 4.61 +5.6 4.55 387.6

5 years 4.44 +8.2 4.36 318.3

7 years 4.36 +9.0 4.27 291.5

10 years 4.23 +9.2 4.14 271.8

30 years 4.23 +10.0 4.12 232.5

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

EUR/USD 0,9783 +0,1% 0,9785 0,9787 -14,0%

EUR/JPY 146.91 +0.3% 146.72 146.49 +12.2%

EUR/CHF 0.9824 +0.0% 0.9836 0.9967 -5.3%

EUR/GBP 0,8715 +0,0% 0,8722 0,8697 +3,7%

USD/JPY 150,16 +0,2% 149,96 149,70 +30,5%

GBP/USD 1,1225 +0,0% 1,1219 1,1254 -17,0%

USD/CNH (Offshore) 7,2564 -0,2% 7,2467 7,2646 +14,2%

Bitcoin

BTC/USD 19.073,48 -0,7% 19.121,63 19.220,54 -58,7%

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

WTI/Nymex 85,71 85,55 +0,2% +0,16 +21,8%

Brent/ICE 92,57 92,41 +0,2% +0,16 +25,8%

GAS VT-Settlem. +/- EUR

Dutch TTF 128,25 112,51 +14,0% +15,74 +81,7%

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

Gold (Spot) 1.626,77 1.629,15 -0,1% -2,38 -11,1%

Silver (Spot) 18.64 18.48 +0.9% +0.16 -20.1%

Platinum (Spot) 918.03 886.93 +3.5% +31.10 -5.4%

Kupfer-Future 3,42 3,34 +2,5% +0,08 -22,7%

YTD relative to previous day’s close

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Contact the author: maerkte.de@dowjones.com

DJG/DJN/err/

(END) Dow Jones Newswires

October 20, 2022 16:13 ET (20:13 GMT)

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