Börse Express – New York shares Outlook: Weak start to trading


NEW YORK (dpa-AFX) – The volatile trading on the US stock market is likely to continue on Thursday with renewed losses. After stabilizing midweek, fears of inflation and recession have regained the upper hand. Stock exchanges pointed out that the day before, US Federal Reserve Chairman Jerome Powell and his counterparts from the euro zone and Great Britain had warned at the European Central Bank forum that inflation would last longer. This once again raised fears that aggressive monetary policy interventions by the central banks in response to currency depreciation could slow down the economy and send it into recession.

The fact that consumers are becoming increasingly cautious is also shown by consumer spending in May, which rose less significantly than experts had forecast. Shortly after the start of trading, the mood of purchasing managers in the Chicago region should come into focus in June.

According to broker IG, the Dow Jones Industrial 1.0 percent weaker to start trading at 30,706 points, which indicates a loss of 15.5 percent for the Wall Street Index in the first half of the year. The half-year results for the Nasdaq 100 selection index, which is predominantly stocked with technology stocks, are no less sobering out. In view of a loss of 1.2 percent to 11,518 points expected at the start of trading, his half-year minus then amounts to almost 30 percent.

Among the individual values, the bright spots on Thursday are likely to be rare. Biontech were among them and increased by one and a half percent before the market. Pfizer also fell by a below-average 0.3 percent in a market comparison. The US government ordered another corona vaccine from the two on a large scale for a planned booster campaign in the fall. According to Pfizer boss Albert Bourla, it is also about agents that are intended to protect against newer virus variants such as Omicron.

The Walgreens Boots Alliance pharmacy chain also published annual reports for the past quarter and spirits maker Constellation Brands before. On the earnings side, both exceeded the average analyst estimates. But the reaction of investors before the market was different: The Walgreens shares found in the Dow still lost 2.3 percent. Constellation Brands, on the other hand, were quite stable with a premarket minus of 0.5 percent. After the market close on Wall Street, the semiconductor manufacturer Micron Technology present its annual report./ck/jha/

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0246 2022-06-30/14:57

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