At yesterday’s close, the U.S. index S&P 500 began a consolidation and, after positive price values since the middle of the month, a significant downward movement. In the process, the largest of the three best-known stock indices in the USA slumped by almost 1.6%. The Nasdaq 100, the tech index, even lost almost 1.9% on yesterday’s trading day. The Dow Jones also corrected yesterday, Tuesday, down by more than 0.8%.
One of the reasons for the correction of the US stock market can be found in renewed growing concerns about the US banking sector. Thus, the quarterly report of the U.S. regional bank First Republic Bank worried investors here. However, uncertainty about the future financial planning of major U.S. corporations such as Microsoft and Google based on their respective annual reports also caused the market to become nervous.
So yesterday 4 major companies released their financial results, including PepsiCo, Spotify, 3M and General Motors. While Pepsi, 3M and General Motor can convince with positive figures, Spotify missed their sales forecasts. Nevertheless, all courses have reacted positively to the results so far. For today’s trading day, figures from eBay, Roku and Meta Platforms are all due to be announced at 22:0CET. Already at 13:30 today, the business figures of Boeing were published, which announced more sales than expected and caused a rise in the share price.