New York (dpa-AFX)-The New York stock exchanges did not respond to the highly expected US labor market report on Friday.
The market -wide stock index S&P 500 got on a record high early on, but then put the reverse gear and lost 0.78 percent to 6,451.25 points. The leading index Dow Jones Industrial was also unable to hold its moderate profits and recently fell 0.75 percent back to 45,278.57 points.
The Nasdaq 100 had initially increased more clearly, but then noted 0.58 percent lower at 23,496.67 points. The price gains of the index sizes Broadcom and Tesla supported the technology -based selection index. But with the Broadcom industry colleagues AMD (AMD (Advanced Micro Devices)) and Nvidia there were also heavy-weight losers.
The world’s largest economy had once again created fewer jobs than expected in August. In addition, the employment structure in the two previous months was revised down. In view of the weak data, there should hardly be anything in the way of a key interest rates by the US Federal Reserve Fed in mid-September.
However, the job data is now also nourished. Börsen expert Thomas Altmann from the asset manager QC Partners pointed out that the revised value for employment in June was now below the zero line and is therefore the only negative value in the post-covid era.
Broadcom led the winner list in the Nasdaq 100 with a spa jump of 8.7 percent. The papers also reached a record high. The chip manufacturer had increased sales and profits more than expected in the past quarter and benefited from solutions to artificial intelligence. In the Broadcom’s keel water, Micron (Micron Technology) Technology and the titles of the industry supplier ASML listed in New York are 2.2 or 1.9 percent high. In contrast, the shares of Nvidia and AMD lost 4.1 and 7 percent. Apparently they suffered from the fact that Broadcom’s success could cost them market shares.
Biontech’s shares (Biontech (ADRS)) raped up by 10.9 percent. According to interim results, experimental therapy of the biotech company against breast cancer has shown success in a study.
Tesla recently claimed a price plan of 2.2 percent. The electric car maker put on a long -awaited remuneration agreement for CEO Elon Musk before the value of which could amount to around $ 1 – an unprecedented package in the American corporate world. However, it contains a number of ambitious targets that Musk has to meet in order to obtain full remuneration.
UBS analyst Joseph Spak wrote about the positive market reaction that the proposal illustrates the enormous future potential of Tesla and bandage Musk closer to the company. The other shareholders would also benefit from the achievement of the goals. On November 6th, the shareholders should vote on the proposal.
In contrast, there is a bad news from the clothing industry. The sporting goods group Lululemon (Lululemon Athletica), which is particularly known for yoga clothing, coated his business goals. The share price collapsed by more than 18 percent and also burdened Nike something – the titles of the world’s largest sports goods manufacturer lost 1.5 percent./GL/MIS