NEW YORK (dpa-AFX) – The US stock market continued its recovery tour of the past trading days and weeks on Monday. Following the much-noticed ISM data for US industry, the most important indices turned positive.
Der Dow Jones Industrial After a slightly weaker start in early trading, it rose by 0.20 percent to 32,911.75 points. In the past week, the best-known Wall Street index had already gained three percent and ultimately recovered by almost seven percent in the normally rather weak stock market month of July. The market-wide S&P 500 rose 0.14 percent on Monday to 4136.15 points.
The Nasdaq 100 also shook off its opening losses and advanced by 0.43 percent to 13,004.12 points. The selection index, which is predominantly stocked with technology stocks, even rose by almost 13 percent in July, after falling to its lowest level since autumn 2020 in mid-June.
As reported by the Institute for Supply Management (ISM), sentiment in US industry fell to its lowest level in more than two years at 52.8 points in July. However, economists had expected an even more pronounced drop to just 52.0 points. “The Purchasing Managers’ Index has exceeded the consensus estimate and is also still clearly in the expansion zone,” emphasized Helaba’s economist Ulrich Wortberg positively. “Against this background, doubts about growth should not increase and the US Federal Reserve can stick to its plan of initially raising interest rates further to curb inflation.”/ck/he
ISIN US2605661048 US6311011026 US78378X1072
AXC0205 2022-08-01/16:24
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