Börse Express – New York Equities: October recovery continues


NEW YORK (dpa-AFX) – US stock markets continued their good start until October Tuesday. The hope that the urgency for more aggressive rate hikes by the US Federal Reserve is easing is seen as the driving force behind the strong start to the month after the extremely weak September. Current US economic data has had little impact on prices. As expected, US industrial orders stagnated in August.

Der Dow Jones Industrial For the first time since September 22, it broke the much-noted 30,000-point mark in early trading. More recently, the leading US index climbed 2.27% to 30,161.62 points, expanding its winning streak to around 5% since Monday. For the S&P 500 at the market level
Tuesday was up 2.55% to 3772.10 points. The Nasdaq 100 Technology Index gained 2.69 percent to 11,532.07 points.

“The optimism appears to have returned to the market in October,” commented Pierre Veyret of broker Activtrades. However, the question remains whether this is a bear market rally or even a temporary reversal.

Airlines stocks were among the largest daily earnings. This is how American Airlines grew by 8.1%, Delta Air Lines by 8.3%, Jetblue Airways by 7.8% and United Airlines 6.9 per cent.

A particularly noticeable winner of the Nasdaq was the shares of Amazon
with an increase of 4.7 percent. Jefferies Research analyst Brent Thill pointed out in a study that investors would get the traditional online trading business for free at the current price level. The group’s market valuation is currently below the value of the other divisions, according to Thill.

Ford documents was up 6.6% after the release of September sales figures. Competitor General Motors’ title gained 7.8%.

For Fedex share certificates it increased by 4.8 percent. The logistics group had announced a deal with Morgan Stanley met on repurchase of $ 1.5 billion of treasury stock./edh/he

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0301 2022-10-04 / 20: 04

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