Support Powell doesn’t give Wall Street a boost Financial

The Dow Jones index is 0.4% lower. The S & P500 lost 0.9% according to the futures, the Nasdaq fell sharply at 2.8%.

The effective interest payment for US 10-year bonds goes slightly higher to 1.37%.

American oil became 0.3% more expensive.

gold rose a fraction to $ 1808, silver fell 0.6% to $ 27.90.

Investors are looking forward to Federal Reserve Chairman Jerome Powell’s comment.

US home prices are an indicator of growth and confidence, rising 10.4% year-on-year in December.

Home Depot is going down

In the stock markets, tech lost. The world’s largest tech company Apple started with a 3.5% price drop.

Tech stocks like PayPal (-7%), Twitter (-5%) and platform Etsy (-9.5%) dropped immediately. Baidu, Platoon and Zoom went down to 9%.

And giants Amazon, Google mom Alphabet and Microsoft fell to -2%.

The maker of oat milk Oatly registers for the New York stock exchange. The Swedish company has filed for a $ 10 billion valuation.

With the shares Home Depot for disappointment with a 3% decline. The retail chain surprised analysts with earnings per share up 3 cents to $ 2.65 per share. Turnover is also better than estimated. The downer is the lack of prospect of the management. This points to uncertainties due to the corona pandemic.

The fact that the United Kingdom has announced its reopening for travel from June 21, pushed shares of airlines such as EasyJet (+ 8%) and Lufthansa (+ 4%) higher.

Part Macy’s rises more than 2%. For the retailer, the market counted on 12 cents earnings per share. That’s $ 0.80 per share.

Battery dispenser Tesla drops nearly 10%, after taking on its biggest daily loss in months on Monday.

The Tesla share is increasingly linked to the price of crypto currency bitcoin (-10% to $ 48,968), said analyst Wedbush, referring to the large purchases of bitcoins ($ 1.5 billion) frontman Elon Musk made. That currency is extremely volatile and fell another 14% on Tuesday. That also affects Tesla, according to analyst Dan Ives of Wedbush.

The major network and security company Palo Alto Networks is losing almost 4%. His quarterly earnings of $ 1.55 per share, 12 cents above analyst consenus, were strong for analysts. But here too they fell over the ‘outlook’: it lagged behind the growth expectations in this sector.

Electric cars

A drama unfolds Churchill Capital (-34%). His part Lucid Motors goes public with a Spac, an empty wallet with a bag of money. With that, $ 4.4 billion in capital is now going to the California luxury battery car manufacturer.

Pharmaceutical Johnson & Johnson set aside an additional $ 3.9 billion for damages from users of its talcum powder. In October 2019, this was determined by goods services in the US. According to a court decision, it contains demonstrable asbestos, which has caused ovarian cancer. In summer 2020, the Missouri court ruled that Johnson & Johnson will have to pay $ 2.1 billion in damages due to the sale. It appealed.

The Real Real drops 11%. During its last quarter, it lost $ 0.49 per share, while sales also fell short of what analysts expected from the online used merchandise seller.

Cinemas open

Zoominfo, supplier of data for marketers, rises 8% better than quarterly results calculated by market researchers. The group management foresees strong growth this autumn.

AMC Entertainment benefits 3.4% share price on the news that cinemas in New York City, with limited capacity, will reopen on March 5.

Wells Fargo divests its asset management business to private equity firms GTCR and Reverence Capital for $ 2.1 billion. The investment bank holds a 9.1% interest.

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Support Powell doesn’t give Wall Street a boost Financial
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