Friday, April 30, 2021
The share price is dropping on Twitter
US stock exchanges shrink at the weekend
After the recent record highs, investors in the US equity markets were relieving some of the pressure. Twitter shares collapsed 15.2 percent. The dollar is growing strongly.
After the new highs of the previous day, the week ended with profit taking on Wall Street. Traders pointed to a turbulent week with the influx of company numbers and the US Federal Reserve meeting. Despite Friday’s price losses, April was still the stock market’s best month since November for the S&P 500. Weak economic data from China, where PMIs fell in April and missed expectations, also fit the picture.
In addition, the Corona headlines caused increased anxiety. The current wave of infections is particularly raging in Japan, Brazil and India. This development could seriously disrupt global supply chains, potentially driving up prices. She added that this could lead to an increase in already high inflation in the United States.
The Dow Jones-The index lost 0.5 percent to 33,875 points. The S & P-500 It fell 0.7 percent to 4,181 points. The Nasdaq composite It decreased by 0.9 percent to 13,963 points. For every 1,074 (Thursday: 1,741) course winners in Nyse there were 2,267 (1,574) losers. 115 (160) unchanged titles from the market.
On the other hand, positive US economic data will not support the market. The mood of purchasing managers from the Chicago area unexpectedly improved in April. The US Consumer Confidence Index calculated at the University of Michigan also rose faster than expected in April. US household incomes rose by a record 21.1% in March, as business incentive checks hit bank accounts and consumer spending rose.
Reporting season makes training sessions – Twitter collapses
The reporting season provided a driving force for individual stocks: Amazon (-0.1%) posted record results for the first quarter, beat expectations and is also confident about the current quarter. The clear initial gains cannot be preserved. Twitter By 15.2 percent. Although the results were above expectations, the increase in the number of well-noticed users, which could also weaken, was disappointing.
I gave in the oil sector Chevron (-3.6%) and Exxon MobiFor (-2.9%) after. Businesses have largely recovered from the consequences of the epidemic and exceeded earnings expectations. But Chevron ran less than hoped. Prices were negatively affected by the drop in oil prices.
pharmaceutical companies Bountech (+ 4.8%) and Pfizer (+ 0.1%) They applied to the European Medicines Agency to approve their Corona vaccine for adolescents. Biotechnology Corporation Gilead Sciences (-0.6%) increased its sales in the first quarter thanks to sales of the antiviral drug Remdesivir versus Covid-19 by 16%, but it generally fell short of expectations and lowered profit expectations as well.
US Steel (+ 2.3%) provided mixed and unusual business numbers. The results of the laser expert were very poor Microvision In, the session decreased by 15.5%. The company expanded its quarterly loss. Sales and profits missed expectations.
Dollar attracts Kaplan data
The dollar rose significantly in the foreign exchange market, and the dollar index rose 0.8 percent. Skeptics of a long-term, too loose monetary policy in the United States received support. Dallas Fed President Robert Kaplan believes the Fed should discuss curtailing its monthly purchases of $ 120 billion in assets. There are excesses and imbalances in the financial markets. Given the rise in the economy, and as a result, inflation expectations, the voices of those arguing that the Fed may soon be forced to tighten monetary policy have recently increased.
After the recent strong gains, oil prices fell by a good 2.0 percent. Participants indicated profit taking before the weekend. In addition, fears of a decline in demand have intensified with the sharp rise in the number of Corona cases, especially in India, again.
The price of gold decreased slightly with the strengthening of the dollar. It was the fourth trading day in a row that a fee was charged. However, on a monthly basis, there is an increase of around three percent. In the bond market, prices rose moderately with the weak development in the stock market. The yield on the 10-year notes dropped 1.4 basis points to 1.63 percent.