There is no calm on the stock markets. After nervous ups and downs, the Dow Jones closes slightly higher, p
A few days before the start of the Wall Street accounting season, nervousness among investors is mounting. The US indices went on a roller coaster ride on Tuesday. Speculations about disappointing company results initially caused further losses, but then the stock exchanges made up ground thanks to bargain hunters.
At the close of trading, the Dow Jones was up 0.1 percent at 29,239 points. An increase in the price of the pharmaceutical company Amgen of more than six percent after a positive analyst comment helped the standard values index upwards. The broader S
Europe's stock exchanges had previously fallen for the fifth trading day in a row. "Grobbing inflation with an associated restrictive monetary policy, geopolitical tensions and fears of a recession are fundamentally weighing on the stock markets," said investment expert Salah Bouhmidi from the trading house IG Europe.
Economic pessimists were also in the majority on the commodity markets. Brent crude oil from the North Sea fell by two percent to $94.24 per barrel (159 liters) and copper by 0.3 percent to $7556 per ton. The resurgence of the coronavirus pandemic in top buyer China is also depressing the mood here, said stockbrokers.
Economically sensitive stocks fell out of favor with investors. So the S sagged
"The net margin numbers should be very good for those banks that aren't tied to investment banking revenues, but should be pretty weak for those that are," said Rick Meckler, a partner at wealth manager Cherry Lane Investments .
Shares in the US ride-hailing service providers Uber and Lyft and the food supplier Doordash came under pressure and lost between six and twelve percent. The background is a planned regulation by the US labor authorities that would make it more difficult for companies to treat employees as independent contractors. Thus, workers would be entitled to more benefits and legal protections, which would increase labor costs.
Zscaler stood out with a loss of more than four percent. The president of the provider of a cloud-based security software platform, Amit Sinha, surprisingly resigns his post.
Coinbase, on the other hand, took off after announcing a partnership with the search engine service Google. At the top, the titles of the cryptocurrency platform increased by 7.5 percent. Some Google customers should be able to pay for their cloud services with selected cyber currencies via Coinbase.
"For Coinbase shareholders, this news is grist to the mills. It remains to be seen to what extent demand will actually develop in a practical sense," said analyst Timo Emden of Emden Research.
