The US stock exchanges paid some tribute to their price rally since the beginning of November on Wednesday, before Thanksgiving holiday. The leading index Dow Jones Industrial Average (INDEXDJX:.DJI) Index lost 0.48 percent to 35,804.38 points in the end. But let us remember that a year ago, a few days before Thanksgiving DJIA broke the 30,000 point mark for the first time. So, this favorite index gained 5000+ points in just one year.
The market-wide S&P 500 (INDEXSP: .INX) , which was only a few points short of a record on Tuesday, gained 0.23 percent to 4,701.46 points. Furthermore, the technology-heavy Nasdaq (INDEXNASDAQ: .IXIC), which gained more than 600 points in a month, made it to 15,845.23 an increase of 4.06 percent.
But on Thanksgiving (Thursday), it is likely that we will see reluctance among investors – and on Friday it will close its doors earlier than usual (at 1 p.m.). That is why many stockbrokers use the public holiday for a long weekend. Investors mostly keep a low profile beforehand.
According to the Fed, the members of the monetary policy committee of the US Federal Reserve discussed a faster throttling of their bond purchases. "Some participants preferred a somewhat faster pace of cuts that would result in purchases being closed earlier," they said. In this way, one can react earlier to the growing threat of inflation with changes in interest rates.
The US economy grew somewhat faster in the summer than previously known. The gross domestic product (GDP) rose in the third quarter compared to the previous quarter by an annualized 2.1 percent. The weekly initial jobless claims fell by 71,000 to 199,000, the lowest level since 1969. Analysts had expected an average of 260,000 applications.
Durable goods orders surprisingly continued to fall in October due to a weakness in the transport sector. The US real estate market continues to trend towards strength. In October, new home sales rose 0.4 percent from the previous month, while analysts had expected stagnation. The consumer climate - as measured by the Uni-Michigan index - fell in November to its lowest level in ten years. US consumer spending and income rose faster-than-expected in October.
The stocks of the computer company Dell were among the individual stocks and HP Inc with submitted quarterly figures at a glance. Thanks to a strong demand for PCs, both of them earned splendidly. In the corona pandemic, Dell and HP continued to benefit from the trend towards home offices and an increased need for IT. Dell papers gained 4.8 percent, those from HP rose by more than 10 percent.
The expectation of strong sales losses for the fashion chain Gaplet the shares collapse by a good 24 percent. Due to global problems in the supply chain and significantly increasing freight costs, Gap warned of weaker Christmas business. In the current year, the company could lose up to $ 650 million in revenue. Gap has therefore significantly reduced its annual targets.
Tesla bossElon Musk sold other papers of the electric car maker for about 1.05 billion US dollars, according to mandatory reports to the US Securities and Exchange Commission. This means that Musk has sold Tesla shares worth around $ 10 billion since he agreed to sell ten percent of his stake two and a half weeks ago in a Twitter vote. The Tesla stocks rose 0.6 percent.