Wall Street investors are taking profits on the US stock exchanges – Apple is approaching $ 3 trillion in market value

Wall Street investors are taking profits on the US stock exchanges – Apple is approaching $ 3 trillion in market value

Wall Street investors are taking profits on the US stock exchanges - Apple is approaching $ 3 trillion in market value
Investors expect the Fed to raise rates soon.  Source: Reuters

After three days of price gains in a row, US investors are taking a breather. The leading indices Dow Jones, Nasdaq and S&P 500 fell by up to 0.4 percent when they opened on Thursday. In the previous days they had increased the bottom line by up to five percent.

The current setback is only a matter of profit-taking, said Peter Cardillo, chief economist at Spartan’s financial adviser. The announcement by the pharmaceutical company Pfizer that three doses of the coronavirus vaccine developed together with the German company Biontech are an effective protection against the newly discovered Omikron variant prevents a major sell-out.

The Uber titles, on the other hand, came under pressure and lost two percent. The EU Commission is declaring war on the bogus self-employment of employees of transport services and food suppliers. According to a bill, companies should employ drivers, for whom they establish rules of conduct and determine payment, as employees, thereby granting them paid vacation, pension entitlements and a minimum wage.

Look at the individual values

The drugstore operator raised both its outlook for 2021 as a whole and its profit forecast for the following year. The company is also planning a $ 10 billion share buyback program. The shares rose 2.4 percent.

Shares were down 5.6 percent after the video game retailer posted a larger loss than last year. The company also announced that the SEC had issued a subpoena in August to trade its shares. The Gamestop paper has slipped by more than 20 percent in the past four weeks.

The company won an appeal court ruling. The game company Epic wanted to sue for its own app store on the iPhone – and failed. A side effect in the process were new ways for app developers to inform users about cheaper payment methods outside of the Apple platform. But this is now also on hold. Regardless, Apple is approaching a valuation of $ 3 trillion, which it would at a stock price of $ 182.86. The stock is currently trading at $ 176.50, up 0.5 percent.

The shares fell 8.7 percent. The electric vehicle maker has announced an offer to buy convertible bonds worth $ 1.75 billion.

The parent company of the restaurant chains KFC, Pizza Hut and Taco Bell was upgraded from “neutral” to “overweight” by the analysis company Atlantic Equities. Atlantic Equities sees the potential for increasing returns and names Yum as its preferred stock in the fast food category. Yum shares rose 0.3 percent.

The video streaming company was classified as “overweight” in a new study by the US bank JP Morgan, the analysis being based on Fubo’s sports-oriented offerings as a differentiating factor. The share rose 4.5 percent.