Wednesday, September 22, 2021
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Ethereum and Cardano rebounded after hoax, oil stocks top – the day on Wall Street

The Bitcoin and Co prices are falling today, but are at least recovering somewhat after a brief upset. The bottom line was that share trading was also positive on Monday. After a weak week before, the prices on Wall Street have stabilized somewhat. The leading index Dow Jones Industrial rose 0.76 percent to 34,869 points.

The S&P 500 trailed the Dow with a gain of 0.23 percent to 4,468 points. The Nasdaq 100 closed 0.04 percent lower at 15,434 points. Observers justified the mostly restrained movements with a lack of impulses. Hardly anything happened on the US bond market at the beginning of the week either.

The focus of investors is on the upcoming consumer prices on Tuesday, which are considered an important criterion for the monetary policy of the US Federal Reserve. The monetary authorities will meet in the coming week for the next interest rate decision. This is eagerly awaited, as the central bank recently signaled that it would be scaling back its bond purchase program.

The stock market barometers received support from commodity stocks, some of which rose sharply. They benefited from rising oil and gas prices. The price of natural gas climbed by more than five percent to its highest level since the beginning of 2014. The shares of the oil companies Chevron, ExxonMobil, ConocoPhilips and Occidental Petroleum increased by up to 7 percent. The papers of the oilfield equipment supplier Schlumberger gained 5 percent.


Meanwhile, a false report caused unrest on the crypto market. After a period of weakness, the price initially rose briefly from Litecoin. The reason for this was a fake press release, according to which Walmart wants to accept the crypto currency as a means of payment. As a result, among other things, the prices of Bitcoin, Ethereum and Cardano at. However, Walmart denied it and the prices briefly fell even further into the red than before the fake report (more on this in the additional articles at the end of the article). However, the courses were able to recover significantly and were recently only a few percent in the red on a daily basis.

A resumption of the valuation of large Internet corporations by the US bank Goldman Sachs also caused movement. Its expert Eric Sheridan started the valuation of, among other things alphabet, Facebook, Amazon and Above with buy recommendations. However, only the courses of the Google holding Alphabet and Uber could benefit from this. Sheridan’s sell recommendations are Twitter and Airbnb, which each fell by around three percent.

Oracle reported quarterly figures after the trading hours (see additional articles).

(with material from dpa-AFX)

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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