Börse Express – New York Equities Outlook: Losses expected before Fed minutes

NEW YORK (dpa-AFX) – The US stock exchanges should go down on Wednesday. After the most recent rally, caution is increasing, especially since numerous economic data will be published in the middle of the week due to the Thanksgiving festival that is due to take place the next day. However, the greatest attention should be paid to the minutes of the US Federal Reserve (Fed) that evening.

Broker IG assessed the Dow Jones Industrial around three quarters of an hour before trading began 0.45 percent lower to 35,652 points. The Nasdaq 100 is expected to be 0.52 percent lower to 16,222 points.

Since many US citizens use the national holiday “Thanksgiving” on Thursday for a long weekend, the weekly initial claims for unemployment benefits and the incoming orders for durable goods in October, which overall were mixed, are the focus.

Shortly after the IPO, consumer spending and inflation data for October are on the agenda, as are November data from the University of Michigan on consumer sentiment. In addition, real estate data and finally the weekly oil report are published.

In the later course of trading, the minutes of the most recent US Federal Reserve (Fed) meeting come into focus. According to market analyst Michael Hewson from CMC Markets UK, the minutes themselves should not offer any big surprises. They could, however, provide a good insight into the deliberations of the Open Market Committee (FOMC) when it came to the scope of the first tapering – i.e. the first scaling back of bond purchases. It should be of particular interest to find out how many FOMC members would have liked a faster move, he wrote.

The computer corporations Dell are probably among the individual values
und HP Inc with the numbers presented the previous evening in view. Thanks to a strong demand for PCs, both of them earned splendidly. In the corona pandemic, Dell and HP continued to benefit from the trend towards home offices and an increased need for IT. Before the trading session, Dell gained a little more than two percent and HP gained a little more than seven percent.

The expectation of a sharp drop in sales made up a quarter of Gap’s stock market value nullify. Because of global problems in the supply chain, the fashion chain warned that it was facing a weaker Christmas business and could lose up to 650 million dollars (578 million euros) in revenue in the current year. In addition, significantly higher freight costs can be expected. The group, to which brands such as Old Navy, Banana Republic and Athleta belong, therefore cut its annual targets significantly.

To what extent the stocks of retailers and pharmacy chains Walmart
, CVS and Walgreens
Will suffer from a guilty verdict in the opioid trial will be revealed at the start of trading. They were little moved before the trade fair. All three were found guilty in landmark case by a jury in a Cleveland federal court of contributing to the devastating opioid crisis by lax drug delivery. The companies announced their appointment./ck/mis

 ISIN  US2605661048  US6311011026

AXC0243 2021-11-24/14:53

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