Business

Aviation starts decline on higher Wall Street | Financial

The leading Dow Jones index ends 0.1% higher at 34,695 points. The broad S&P 500 gains 0.2% to 4,368 points and technology exchange Nasdaq gains 0.4% to 14,684 points.

The number of new applications for unemployment benefits unexpectedly rose by 419,000 last week, while economists had expected a drop to 350,000 applications on average. The figure may indicate that the recovery in the labor market in the United States from the corona crisis is weakening due to the advance of the Delta variant. The recovery of the labor market plays an important role in the interest rate policy of the Federal Reserve, the umbrella organization of central banks in the US.

Texas Instruments stock plunges 5.3%. The company came with strong quarterly results, but warned that the figures in the third quarter could be disappointing. AT&T climbs 0.2% thanks to better-than-expected performance over the period.

Aviation also received attention. American Airlines posted positive cash flow and net profit in the second quarter for the first time since the coronavirus crisis. Ticket sales recovered compared to the same period last year as Americans again booked flights within the US more often. Investors had hoped for more and put the stock 1.1% lower. Industry partner Southwest Airlines also came up with figures and is down 3.5%.

New York-listed Chinese taxi app Didi Global is down 11.5%. Chinese regulators consider imposing ‘unprecedented’ measures on Didi. A gigantic fine is possible, reports Bloomberg news agency based on insiders. Didi made an IPO in New York late last month. Earlier it was announced that the Chinese authorities suspect Didi of illegally collecting personal data from users.

NXP is 2.4% lower. The American government is opening an investigation into semiconductors from the Eindhoven chip company. According to Taiwanese competitor MediaTek, NXP is illegally using its patented technology, so the company wants a US import ban on certain chips. The US International Trade Commission is now investigating the complaints.

Aviation starts decline on higher Wall Street | Financial
Source link Aviation starts decline on higher Wall Street | Financial

Back to top button