Pessimistic forecasts push Dow down to record highs

Traders on Wall Street

The trade dispute dominates the markets.

(Photo: UPI / laif)

new York On Wall Street, investors hit the brakes on Tuesday after breaking new records. The trigger was a more pessimistic business outlook for the largest US home improvement retailer Home Depot.

Another mood dampener supplied the department store group Kohl's with a profit warning. At the start of trading, hopes for an early trade deal between the US and China had fueled buoyancy on the US stock exchanges. "The markets are probably a little too high," said Randy Frederick of the securities dealer Charles Schwab. "So it's not surprising that there's a break now."

At the close in New York, the Dow Jones Standard was 0.4 percent lower at 27,933.98 points. The broad-based S & P 500 lost 0.1 percent to 3,120.18 points. Both barometers had previously risen to new highs. In contrast, the technology-heavy Nasdaq moved 0.2 percent to 8,570.66 points.

In Frankfurt, the Dax closed just in the plus at 13,221 points, after he had previously temporarily recorded at a two-year high.

Look at the individual values

Home Depot: The shares of the DIY chain slipped by 5.4 percent, marking the largest price decline in almost two years. Management lowered its revenue forecast for the second time this year because the online business is not doing as it was hoped.

Kohl's: Also for the title of the retailer, it went down, by 19.5 percent. Like Home Depot, Kohl's missed sales expectations and capped its annual targets for the second time.

Lowe's, Macy's, Nordstrom: The papers of the Home Depot rival lost 1.4 percent. The Kohl's competitors Macy's and Nordstrom lost 10.9 and 6.3 percent, respectively.

Broadcom: The winners, on the other hand, were Broadcom, up 2.1 percent. The chip manufacturer's titles had previously been upgraded by the bank's Morgan Stanley experts.

More: At a meeting with the Fed President, Trump again criticized what he sees as high interest rates. Too strong a dollar is bad for growth.

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