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NEW YORK (dpa-AFX) – Der Dow Jones Industrial made up for intermittent losses on Wednesday. The surprising rise in inflation last month did not cause investors lasting concern. Instead, investors are now waiting for the minutes of the US Federal Reserve’s latest interest rate meeting. It may contain hints on how the Fed should proceed.
The Dow was recently listed slightly higher at 34 388.58 points. The S&P 500 after initial losses increased by 0.32 percent to 4364.72 points. For the tech-heavy Nasdaq 100 it went up 0.78 percent to 14,776.29 points.
In the US, consumer price increases accelerated again in September. The annual inflation rate surprisingly rose from 5.3 percent in the previous month to 5.4 percent. Economists had expected an unchanged rate on average.
The focus was also on the start of the corporate reporting season, which the major bank JPMorgan Chase had ushered in this Wednesday with the publication of their figures. The economic recovery from the Corona crisis brought the bank a surprisingly high surplus in the summer, with the merger advisory business also generating the highest quarterly profit to date. However, according to stockbrokers, the subdued credit growth overshadowed the figures. JPMorgan’s shares, which had already performed well this year, fell 2.5 percent, making them one of the weakest stocks in the Dow.
We are now eagerly awaiting how the other banks have done. This Thursday, among others, Morgan Stanley will follow with their annual reports ,
Citigroup and Bank of America .
Qualcomm had announced a new share buyback program for ten billion dollars the evening before, whereupon the papers of the semiconductor manufacturer, which is geared towards the mobile communications sector, rose by a good two percent.
Apple’s shares but fell 0.7 percent. According to the Bloomberg news agency, the IT company could cut its annual production target for the iPhone 13 by up to ten million units because of the supply shortages in semiconductors. / La / he
ISIN US2605661048 US6311011026 US78378X1072
AXC0313 2021-10-13/19:53
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