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NEW YORK (dpa-AFX) – Wall Street is trying to recover on Thursday after the setback caused by interest rate fears. With two hours to go, the Dow Jones Industrial, which had already stabilized the day before, moved higher by 0.61 percent to 33,801.19 points after the main index lost nearly three percent since the end of November. S&P 500 at market level increased by 0.78% to 3964.71 points.
Tech stocks on the Nasdaq also rebounded, with the Nasdaq 100 up 1.20%. with his 11,635.69 points. He had lost up to 5.6 percent in the past few days. According to market observer Andreas Lipkow, some quarterly data, such as those from telecommunications equipment supplier Ciena, have revived the recently sharply reduced interest of Nasdaq investors.
Investors are now eagerly awaiting the release of US producer prices on Friday. The point is to see how effective the US Federal Reserve’s recent tight monetary policy is in curbing inflation and whether it could be eased in the near future, he said. Stockbrokers also expect this to be a harbinger of US inflation data, which will dominate the agenda next week along with the Fed’s interest rate decision.
Boeing became the leader of the Dow with an increase of 2.3%. They followed the price increases that competitor Airbus had previously seen had struck in Europe. There is something akin to a spirit of optimism in the industry: as DZ Bank analyst Holger Schmid wrote the day before, it could benefit from a much-needed modernization of the global airline fleet and a recovery in passenger numbers. He also assumes that easing corona rules in China could help improve supply chains.
In the technology sector, among others, Ciena The mood: Shares of the telecommunications equipment maker rose 20.5% on strong fiscal fourth-quarter results. The driving force behind this has been the alleviation of supply chain issues. Statements from the CEO on the outlook were also found encouraging. Cisco stock followed suit and Juniper Networks with increases up to 1.9 percent.
All eyes are also on China due to the imminent easing of strict anti-Covid measures. As a result, some US-traded Chinese tech stocks remained on the road to recovery. Baidu search engine title
approximately rose 4.6% and hit its highest level in two months. Alibaba online retailer title
it even reached its highest level in almost three months with a plus of 6.6 percent.
Nice Teslas On the other hand, fears for China did not subside, which with a discount of 0.9 percent was unable to follow the recovery of the Nasdaq. In line with speculation on Monday, Bloomberg news agency reported, citing insiders, that the electric car maker was cutting production shifts at its Shanghai plant. This would increase signs that demand in China is not meeting expectations.
There was also positive interest in oil stocks. Initially also boosted by temporarily higher oil prices, ExxonMobil stock held up up 1.2% with two hours to go, after unveiling an expansion of its share buyback program and a new five-year plan with massive investments. Chevron titles
followed the Dow up 0.8%.
ISIN US2605661048 US6311011026 US78378X1072
AXC0290 2022-12-08/20:27
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