The stock exchanges in New York opened on Thursday without major price movements, following the price gains of the day before. The focus of investors on Wall Street is on invitations and retail sales figures in the United States. These data can provide more insight into the state of the US economy and the impact of the Delta variant of the coronavirus on the economic recovery from the crisis.
Retail sales increased by 0.7 per cent on a monthly basis in August, while economies were anticipating a decline. Consumers in the US do not seem to be upset by the rise of the Delta variant and spent more in shops. Consumer associations make up most of the American economy.
Weekly applications for a WW payout also went up, to 332,000. This has to do with, among other things, proposed in the state of Louisiana due to the aftermath of Hurricane Ida, which means that many companies have to temporarily close down.
The Dow-Jones index recorded a minus of 0.1 percent at 34,777 points shortly after receipt. The broad S&P 500 won 0.1 percent to 4484 points, and Nasdaq’s technology gauge went 0.4 percent to 15,102 points.
The casino companies remained in the spotlight because of fears of stricter rules in the Chinese gambling paradise of Macau. Wynn Resorts and Las Vegas Sands that have casinos on the peninsula went to over 3 percent cover. In recent trading days, these companies have already suffered significant exchange losses. JPMorgan Chase also reduced the investment advice for those shares due to the uncertainty surrounding Macau.
The maker of meat replacements Beyond Meat received a downgrading from Piper Sandler and yielded almost 4 percent. According to the investment bank, expectations regarding the company’s strategy to sell products in supermarkets are high and sales may be disappointing in the second half of the year.
Meal delivery company Doash just won almost 5 percent thanks to a buying advice from Bank of America. The bank is in favour of Dodash’s growth potential. Bank of America reduced advice for electric car builders Fisker and Lordstown Motors who lost up to 5 percent. According to the analysts, competition in that market is increasing.