Markets USA / Profiteering often obscures good business people | 04/20/21

From Stephen Cosenheim

NEW YORK (Dow Jones) – Indices on Wall Street fell again on Tuesday after a setback on Monday. Market participants talked about Dow & Co’s continued profitability after a week-long record hunt. At the same time, the quarterly reporting season picked up speed and expectations were high considering the recent strong economic data, but higher ratings in many stocks – especially in the technical segment. That’s why many investors acted cautiously despite many good corporate results in the beginning. CMC analyst Michael Hewson also brought a lack of new inspiration to the game.

The Dow Jones Industrial Average fell 0.8 percent to 33,821. The S&P 500 lost 0.7 percent, while the Nasdaq index lost similar volume. Nice had 873 (Monday: 1,033) course winners and 2,466 (2,305) losers. 94 (107) titles went unchanged from the market.

Overall, however, optimism continues to dominate, it said, considering the central banks. Since most of them consider any rise in inflation to be temporary, they are likely to stick to their loose monetary policy for the long term. It supports the stock markets.

IBM Hope – Abbott disappointed

Business figures were provided by IBM and United Airlines. IBM (+ 3.8%) surprised positively with sales and profits, while the red (-8.5%) was even deeper in red than expected. In addition, United’s vision is optimistic, but the market is still optimistic, it said.

Heavyweights Johnson & Johnson, Philip Morris, Procter & Gamble and Abbott Labs also opened books. Johnson & Johnson (+ 2.3%) was thankful for its Covit-19 vaccine, but the price went up only after the European Drug Controller announced in the afternoon that the vaccine could be offered in Europe as planned when it was initially suspended. On suspicion of causing blood clots.

Philip Morris (+ 2.5%) came up with promising figures and raised the outlook. The U.S. government is considering recommending a lower nicotine level in cigarettes for tobacco companies, according to a report from the previous day. Not so with Altria, which fell another 3.9 percent.

Procter & Gamble (+ 0.8%) also gave surprisingly good figures and announced price increases for some products. Abbott (-3.6%) deceived the profit forecast for the financial year, which is below analyst consensus.

Dove Heavyweight Boeing (-4.1%) was under strong pressure, which explains dealers with the surprise exit of the chief financial officer. Greg Smith has led Boeing for many years in the eyes of many investors, including the interim CEO. So, his resignation at the age of 54 will cause surprise and negative feeling.

Apple (-1.3%) led the broader market. The presentation of new products with the self-developed M1 processor did not provide any positive impetus.

Harley Davidson (+ 4.3%) continued to benefit from strong business figures.

The dollar recovered slightly – oil prices fell

The dollar was able to make up for some losses on Monday, but is currently under control, with yields in the US bond market declining. ING forex analysts see the dollar’s declining attractiveness as the US economic recovery has long been priced. The dollar index rose 0.1 percent.

Oil prices fell 1.2 percent. A report was assessed as an indictment, according to which the U.S. competing authority could take action against OPEC due to jointly decided oil production cuts. While it is not entirely clear what this will lead to, the move shows that the issue of subsidy cuts is being addressed, resulting in higher prices for US consumers. In addition, the release of the note on the ongoing talks with Iran, which will eventually lead to the supply of more oil to the world market again.

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INDEX Last + / -% Complete + / -% YTD

Dijaya 33.821,30 -0,75 -256,33 10,50

S&P-500 4.134,94 -0,68 -28,32 10,09

Nasdaq-Comp. 13.786,27 -0,92 -128,50 6,97

Nasdaq-100 13.809,30 -0,71-98,37 7,15

U.S. Bonds

Maturity Yield PP First VT Yield VD +/- PP ODTD

2 years 0.15 -1.2 0.16 3.2

5 years 0.79 -3.4 0.83 43.3

7 years 1.23 -4.0 1.27 58.6

10 years 1.56 -3.9 1.60 64.4

30 years 2.26 -3.6 2.30 61.4

Forex Last +/ -% Tuesday Tuesday, 8:28 AM, 5:25 PM.% YTD

EUR / USD 1,2031 -0,05% 1,2052 1,2032 -1,5%

EUR / JPY 130,07 -0,10% 130,50 129,97 + 3,2%

EUR / CHF 1,1023 + 0,07% 1,1032 1,1010 + 2,0%

EUR / GBP 0,8634 + 0,31% 0,8615 0,8600 -3,3%

USD / JPY 108,10 -0,05% 108,28 108,06 + 4,7%

GBP / USD 1,3935 -0,35% 1,3990 1,3987 + 2,0%

USD / CNH (Offshore) 6,5007-0,14% 6,4910 6,5091-0.0%

Bitcoin

BTC / USD 56,516.41 + 0.34% 54,653.26 55,276.03 + 94.5%

ROHOEL zuletzt VT-Settl. + / -% +/- USD% YTD

WTI / Nymex 62,61 63,38 -1,2% -0,77 + 28,6%

Brent / ICE 66,51 67,05 -0,8% -0,54 + 29,0%

Previous Previous Metals + / -% +/- USD% YTD

Gold (spot) 1.778,39 1.770,30 + 0,5% +8,09 -6,3%

Friday (spot) 25.82 25.83 -0.0% -0.00 -2.2%

Platinum (spot) 1.191.10 1.210.05 -1.6% -18.95 + 11.3%

Cooper-futures 4,21 4,24 -0,6% -0,03 + 19,5%

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DJG / DJN / Goes

(END) Dow Jones Newswire

April 20, 2021 16:10 ET (20:10 GMT)