The Dow Jones index gains 0.2% at 34,987.02 points at the close. The broad-based S&P 500 is down 0.3% to 4360.03 points, technology exchange Nasdaq is down 0.7% and falls to 14,543.13 points.
Investors weighed in on new data on US industrial production. It increased further in June, but less strongly than a month earlier.
According to ING chief economist James Knightely, most of the weakening was caused by a 6.6% decline in auto manufacturing. “The weakness is on the supply side, not in the demand side, given rising prices for both new and used vehicles,” said the economist.
“The lack of chips is severely hampering production, with chip makers warning that supply could be limited well into 2022.” ING foresees ‘continued price pressure’.
The number of new jobless claims in the United States fell by 26,000 last week to 360,000. Economists had expected 350,000 applications. It is the lowest number of new unemployment claims since the outbreak of the corona pandemic in the US.
Falling interest rates
Government bond yields fell again. Investors are concerned about the sustainability of the economic recovery.
US WTI oil fell 2% on a stronger dollar after oil cartel OPEC and partners said production will rise soon.
Delta Airlines recorded a 1.7% profit among the large funds.
The Dutch chipmaker closes in the Nasdaq NXP at 4.5% loss at the bottom. chip giant Nvidia leave 4.4% here and Microchip 4.2% lose.
biotech company Modern plust 5,2% in de Nasdaq.
Vaccinproducent Pfizer (+0.4%) reported paying $345 million with two subsidiaries to settle by hundreds of percent in the price of anti-allergy shot EpiPen, marketed by pharmaceutical company Mylan, which last year merged with Pfizer’s subsidiary Upjohn .
Netflix drops 0.9%. The company has named Mike Verdu as CEO of the games branch. He previously worked at computer game maker Electronic Arts (EA) and was responsible for video games at Facebook. Netflix would like to start offering video games through its streaming service from next year.
Morgan Stanley plus 0.2% despite better than expected results. Closing prices of financials as Bank of New York Mellon (-1,2%), Truist Financial (+ 2.6%) in US Bancorp (-1.4%) diverged sharply.
health insurer UnitedHealth was down 2.8% after figures were released.
Decrease in unemployment benefits
Insurer American International Group (AIG) was up 3.6%. AIG sells nearly 10% of its life insurance and pensions business to investor Blackstone for $2.2 billion.
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