The Stock Markets in New York Opened Slightly Lower on Tuesday
The stock markets in New York opened slightly lower on Tuesday, causing investors to slow down after Monday’s gains.
In Washington, there is still no agreement between Democrats and Republicans on a new support package to deal with the blow of the corona crisis. Several companies also reported quarterly results.
After a few minutes of trading, the Dow-Jones index was 0.2 percent lower at 26.605 points. The broad-based S&P 500 also fell 0.2 percent to 4,872 points, and tech exchange Nasdaq fell 0.1 percent to 10,888 points.
Fashion brand Ralph Lauren opened the books and suffered a loss in the past quarter. The share plummeted 7.5 percent. Warner Music Group also wrote red numbers, but achieved higher turnover, partly due to increased streaming income. In the first trading minutes, the share was 1.4 percent higher.
Booking Holdings, the New York-listed parent company of hotel site Booking.com, fell 0.6 percent. Globally, the company is laying off a quarter of its employees to cut costs during the disastrous corona crisis for the travel industry.
Aircraft maker Boeing advanced 1 percent. The group took a new step towards clearance for flights with its troubled 737 MAX aircraft in the United States. Boeing supplier Spirit AeroSystem saw its turnover fall by approximately 70 percent due to the avalanche slump and fell by 6.9 percent.
Google mother Alphabet won 0.3 percent. The European Commission announced an in-depth investigation into Google’s acquisition of Fitbit (minus 0.1 percent), due to concerns about the significant market power in data after the merger.