MARKETS USA / Lighter – Rising bond yields weigh on

DJ MÄRKTE USA / Lighter – Rising bond yields weigh on

NEW YORK (Dow Jones) – Rising US Treasury yields and weak data weighed on US equities on Thursday. Recently, rising bond yields had repeatedly depressed Wall Street. Technology stocks in particular are extremely sensitive to developments on the bond market, because technology companies often have higher borrowing requirements. The yield on ten-year US Treasuries continued to rise.

The Dow Jones index lost 0.4 percent to 31,494 points. The S&P 500 was down 0.4 percent and the Nasdaq composite fell 0.7 percent. According to initial information, there were 1,077 (Wednesday: 1,422) course winners, 2,144 (1,798) course losers and 71 (85) unchanged stocks at Nyse.

The severe winter, which kept parts of the country firmly under control, had a negative impact on stocks. Millions of Americans have to get by without electricity – businesses are also affected. For example, General Motors (-1.3%) has to cut production in some plants. Meanwhile, the number of initial applications for US unemployment insurance benefits has surprisingly increased. Economists had predicted a decline. In addition, the situation in US industry in the Philadelphia region has deteriorated, although not as much as feared. At the same time, however, weak data reinforce the hope that monetary policy will remain loose, which could entail risks due to rising yields.

Traders remain positive overall for the US stock market. One reason is the surprisingly strong reporting season. 80 percent of the reporting companies beat market expectations. In addition, the ongoing vaccination campaign and the US government’s economic stimulus package, which is slowly taking shape, supported it, it said.

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Geschäftszahlen von Walmart enttäuschen 

Walmart fell 6.5 percent. The retail giant shocked with weak fourth quarter figures and a poor outlook. The group also announced wage increases. Blue Aprons fell 16.2 percent. The food supplier sees itself on a steady growth path. But society doesn’t make money. Another loss was posted in the fourth quarter.

Marriott International gained 0.5 percent. The hotel operator was in the red and missed the market’s sales estimates in the final quarter of 2020. However, the company expects a recovery in the current year. Sleep Numbers increased by 1 percent. The bed retailer posted record results. Sales also exceeded market forecasts.

The Twilio business figures were also very well received. The software company increased sales in the fourth quarter by 65 percent year-on-year – more than analysts had expected. On an adjusted basis, Twilio was surprisingly in the black. The titles rise by 7.7 percent.

Canadian fertilizer manufacturer Nutrien posted a net profit in the fourth quarter after a loss in the previous year. In addition, Nutrien wants to buy back 5 percent of its own shares within one year. The papers lost 0.5 percent. Synopsys lost 4.5 percent. The developer of software for testing semiconductors failed to meet expectations.

The weapons manufacturer Sturm Ruger & Co reported the highest sales for years and almost quadrupled its profit compared to the same quarter of the previous year. The paper rose 0.9 percent. A congressional finance committee interviewed actors involved in Gamestop’s recent capricious courses. The video game retailer’s stock slumped 11 percent.

Zynga is producing a Star Wars game for the Switch console for Nintendo for the first time, in addition to the previous products for Android and iOS devices. The share price rose by 4.9 percent.

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Erdölpreise mit möglicher Produktionsausweitung leichter 

The ongoing cold spell in the USA initially supported oil prices. The crude oil inventory data also tended to support prices with a significant decline. But since refineries are also paralyzed because of the cold and therefore no demand for crude oil for a short time, prices turned into the red. In addition, as on the previous day, there was concern that Saudi Arabia could bring more oil to the market. This was followed by speculation about the expansion of production from other large producing countries of Opec +.

The dollar fell, but this did not boost the price of gold. The troy ounce gave off minimally. The slight decline in the Bitcoin price is striking. Since the number of Bitcoins is capped, more and more investors see the crypto currency as an inflation protection in view of the expansive monetary policy of the central banks and thus an alternative to gold. Stronger-than-expected US import prices underpinned inflation concerns.

=== 
INDEX                 zuletzt      +/- %       absolut  +/- % YTD 
DJIA                31.494,13      -0,38       -118,89       2,90 
S&P-500              3.914,02      -0,44        -17,31       4,21 
Nasdaq-Comp.        13.865,36      -0,72       -100,14       7,58 
Nasdaq-100          13.637,51      -0,45        -62,20       5,81 
 
US-Anleihen 
Laufzeit              Rendite   Bp zu VT    Rendite VT  +/-Bp YTD 
2 Jahre                  0,10        0,4          0,10       -1,2 
5 Jahre                  0,55        0,3          0,54       18,7 
7 Jahre                  0,94        2,0          0,92       28,8 
10 Jahre                 1,29        2,0          1,27       37,5 
30 Jahre                 2,08        4,3          2,04       43,4 
 
DEVISEN               zuletzt      +/- %  Do, 7:50 Uhr  Mi, 17:20   % YTD 
EUR/USD                1,2091     +0,39%        1,2043     1,2030   -1,0% 
EUR/JPY                127,75     +0,17%        127,54     127,35   +1,3% 
EUR/CHF                1,0833     +0,10%        1,0827     1,0812   +0,2% 
EUR/GBP                0,8652     -0,44%        0,8697     0,8696   -3,1% 
USD/JPY                105,65     -0,22%        105,90     105,87   +2,3% 
GBP/USD                1,3976     +0,83%        1,3848     1,3834   +2,3% 
USD/CNH (Offshore)     6,4595     +0,32%        6,4479     6,4467   -0,7% 
Bitcoin 
BTC/USD             52.054,75     -0,17%     51.986,50  50.862,25  +79,2% 
 
ROHOEL                zuletzt  VT-Settl.         +/- %    +/- USD   % YTD 
WTI/Nymex               60,06      61,14         -1,8%      -1,08  +23,5% 
Brent/ICE               63,41      64,34         -1,4%      -0,93  +22,6% 
 
METALLE               zuletzt     Vortag         +/- %    +/- USD   % YTD 
Gold (Spot)          1.774,46   1.776,35         -0,1%      -1,89   -6,5% 
Silber (Spot)           27,01      27,43         -1,5%      -0,42   +2,3% 
Platin (Spot)        1.275,85   1.256,30         +1,6%     +19,55  +19,2% 
Kupfer-Future            3,91       3,82         +2,3%      +0,09  +11,0% 
=== 

Contact the author: maerkte.de@dowjones.com

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DJG / DJN / once

(END) Dow Jones Newswires

February 18, 2021 16:10 ET (21:10 GMT)

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