NEW YORK (dpa-AFX) – The US stock exchanges started unevenly on Monday in the stock market month of April. The blue chips in the Dow Jones Industrial (Dow Jones 30 Industrial) continued their recent rally, buoyed by strong gains in oil stocks. For the Wall Street Index, which had made it back above the 33,000 point mark for the first time in three weeks on Friday, it rose by 1.00 percent to 33,608.47 points towards the end of the first hour of trading. It reached its highest level in a good six weeks.
The Dow was not slowed by March’s ISM US Manufacturing Purchasing Managers’ Index hitting its lowest level since May 2020. However, other indices had a harder time: while the broad S&P 500 rose by 0.31 percent to 4122.07 points, the technology stocks on the Nasdaq attracted attention with price losses. The NASDAQ 100 selection index, which is influenced by this, fell by 0.47 percent to 13,119.88 points. On Friday he had risen above 13,000 points for the first time since August, and he was able to defend this mark.
A significant cut in daily production by the Opec+ oil alliance countries sent oil prices skyrocketing earlier in the week, boosting oil stocks but giving investors a little more concern on the inflation side. Shares in ExxonMobil, Chevron and Conoco Philips rose 4.7 to 8.7 percent. There was a price increase of 8.6 percent at the industry service provider Halliburton.
In the technology sector, rising interest rate concerns and a skeptical comment from analysts were a burden because this sector, with its focus on growth, is considered to be heavily dependent on interest rates. US bank Morgan Stanley warned that the recent rally may be overdone. While the Nasdaq 100 is considered to be in the “bull market” with an increase of more than 20 percent since the end of December, analyst Michael Wilson does not want to rule out a return to old lows. In the Dow, Microsoft and Salesforce were two losers from this sector, their shares lost up to 0.7 percent.
The Tesla papers had to accept a severe setback among the tech values: Here the price, which had risen significantly on Friday, fell again on Monday by five percent just below the 200 dollar mark. The e-car manufacturer was able to increase its deliveries significantly in the past first quarter and thus roughly met market expectations. CEO Elon Musk However, Tesla had set higher goals./tih/he