DOW JONES–After the partly strong gains at the start of the week, the US stock markets posted moderate losses on Tuesday. The Dow Jones index lost 0.5 percent to 43,479 points around midday (New York time), the S&P 500 and the Nasdaq indices, which have recently been in the lead because they are considered more sensitive to interest rates, are falling similarly.
New economic data from today is just one day ahead of the expected one Interest rate cut by the US Federal Reserve does not have the potential to cause even greater disruption. However, the bigger question is whether the resilience of the economy will prompt central bankers to ease restrictions in the future monetary policy It is said in the trade to be more careful. The Fed has already indicated this. That’s why yields on the bond market had already risen recently.
They are currently giving in slightly. Initially they continued to rise, but then came back again after disappointing industrial production and capacity figures. Little is happening with the dollar. Oil prices are falling by up to 1.6 percent.
US retail sales rose slightly more than estimated in November compared to the previous month, and the core rate was a tad less. However, the changes in industrial production and capacity utilization in November deviate somewhat more from the forecasts.
Pfizer outlook is well received – Teva with a price jump
On the corporate side, Pfizer’s 2025 outlook is well received. Despite the burdens from the reorganization of state drug benefits, the pharmaceutical giant expects business to be largely stable or, at best, even better. Pfizer rose 3.8 percent.
Also in the pharmaceutical sector, Teva Pharmaceuticals jumped 21 percent after a drug developed jointly with France’s Sanofi to treat inflammatory bowel disease showed encouraging results in a study. The drug will now be tested further.
Walmart (-0.2%) is little moved by the fact that the retail giant has entered into a collaboration with the Chinese delivery service Meituan. Red Cat Holdings fell around 15 percent after the drone maker reported a loss for the second quarter. Solaredge jumped nearly 21 percent with an upgrade to “buy” from “sell” by Goldman Sachs.
After the strong increase the previous day and a record high, Tesla fell by 0.8 percent to $ 469.30 based on the closing price. Monday’s increase was triggered by a price target increase by Wedbush to $515 from $400.
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INDEX last +/- % absolute +/- % YTD
DJIA 43,479.33 -0.5% -238.15 +15.4%
S&P 500 6,051.21 -0.4% -22.87 +26.9%
Nasdaq Comp. 20,103.23 -0.4% -70.66 +33.9%
Nasdaq-100 22,005.00 -0.4% -91.66 +30.8%
US bonds
Maturity Yield Bp to VT Yield VT +/-Bp YTD
2 years 4.24 -1.2 4.25 -17.7
5 years 4.25 -0.9 4.25 24.6
7 years 4.31 -1.5 4.33 34.2
10 years 4.38 -2.1 4.40 50.0
30 years 4.57 -2.4 4.60 60.4
FOREX last +/- % Tue, 8:07 Mon, 17:25 % YTD
EUR/USD 1.0501 -0.1% 1.0500 1.0498 -4.9%
EUR/JPY 161.04 -0.6% 161.82 161.96 +3.5%
EUR/CHF 0.9374 -0.2% 0.9406 0.9381 +1.0%
EUR/GBP 0.8259 -0.3% 0.8274 0.8274 -4.8%
USD/JPY 153.36 -0.5% 154.11 154.27 +8.9%
GBP/USD 1.2714 +0.2% 1.2690 1.2687 -0.1%
USD/CNH (Offshore) 7.2900 -0.0% 7.2924 7.2937 +2.3%
Bitcoin
BTC/USD 106,871.25 +0.9% 106,922.15 106,704.10 +145.4%
ROHOEL most recently VT-Settlem. +/-% +/- USD% YTD
WTI/Nymex 69.57 70.71 -1.6% -1.14 -0.5%
Brent/ICE 72.83 73.91 -1.5% -1.08 -1.5%
GAS VT Settlem. +/- EUR
Dutch TTF 42.01 39.50 +6.4% +2.51 +2.9%
METALS last day previous +/- % +/- USD % YTD
Gold (spot) 2,641.54 2,653.93 -0.5% -12.39 +28.1%
Silver (spot) 30.45 30.58 -0.4% -0.12 +28.1%
Platinum (spot) 938.08 938.25 -0.0% -0.18 -5.4%
Copper future 4.09 4.14 -1.3% -0.06 +3.5%
YTD based on the previous day’s closing level
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(END) Dow Jones Newswires
December 17, 2024 12:27 ET (17:27 GMT)