Börse Express – New York shares Outlook: Concerns about the economy are once again weighing on the mood


NEW YORK (dpa-AFX) – Recession concerns keep investors in the US stock market in check on Wednesday. The day before was the US leading index Dow Jones Industrial slipped below the 30,400 point mark before recouping a large portion of its losses. With ultimately 30,967 points, however, it was not enough for a jump into the profit zone – unlike for the Nasdaq 100, which is enduring in terms of technology values. The broker IG appraised the Dow Jones about an hour before the opening in the middle of the week 0.24 percent lower to 30,895 points.

The Dow had recently recovered somewhat from its most recent low since the end of 2020 at 29,653 points. Hopes for a more moderate turnaround in interest rates in the USA were primarily responsible. However, fears of inflation and recession continue to plague investors. This is also reflected in the recent slide in oil prices and the euro’s 20-year low against the US dollar given the weak picture of the economy in the euro zone. But the US economic prospects are not particularly rosy either, as the experts at the major bank JPMorgan recently explained. The decisive factor is whether weak growth turns into a recession.

Den Nasdaq 100 the broker IG expects 0.36 percent lower at 11,738 points on Wednesday, after having increased by a good one and a half percent the day before. Its most recent low since November 2020 was 11,037 points in June.

Among the individual values, a look at the chip sector could be worthwhile again. The day before, the Bloomberg news agency had reported, citing insiders, that the US government was pushing for an export ban to China for certain systems from the Dutch chip production company ASML. This involves so-called DUV systems, which are no longer state-of-the-art, but are used to produce many standard electronic chips for cars, smartphones and robots.

Amazon should also be kept in mind. In the highly competitive food delivery business in the USA, the industry giant Just Eat Takeaway bundles and Amazon her powers. US customers of Amazon’s Prime payment plan can use the subscription version of the Grubhub delivery service for one year free of charge
use, which eliminates the delivery charges. Amazon also secured a stake of up to 15 percent in Grubhub via options. Before the market, the Amazon papers were hardly moved.

Shares in Saber Corp gained around 4 percent premarket after analysts at Bank of America commented positively on the provider of technical solutions for the travel and tourism industry./mis/jha/

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0242 2022-07-06/14:47

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