Börse Express – New York Stocks Outlook: Slight losses after strong previous week

NEW YORK (dpa-AFX) – Wall Street investors should hold off on Monday after the recent rally. Broker IG has valued the leading Dow Jones Industrial index a good three quarters of an hour before the starting bell, 0.15% less at 33,697 points. The Nasdaq 100 technology selection index
it should fall by 0.49%.

Hopes for a looser monetary policy boosted markets late last week after a slightly stronger-than-expected weakening in US consumer prices in October was signaled on Thursday. As a result, the yield on 10-year government bonds fell sharply, which catapulted technology stocks in particular. They had recently suffered greatly from the prospect of still very restrictive action by the Fed, because high interest rates reduce the present value of the high profits expected in the future.

At the beginning of the week, however, there was a small countermove: yields increased slightly. The US dollar also appreciated against several other major currencies. Postbank experts referred to Fed Governor Christopher Waller’s statements that there was still “a long way to go” in fighting inflation.

Among the individual values, the focus is on the pharmaceutical industry, especially after the Swiss Roche group suffered another setback in Alzheimer’s research. The long-awaited data on its drug candidate Gantenerumab is there, and it hasn’t met its targets. Treatment with gantenerumab did not slow the clinical decline in affected patients.

The news boosted overseas shares of companies also involved in the Alzheimer’s drug market. This is how Biogen’s stock rose in pre-market US trade by four and a half percent. For Eli Lilly stock it’s up a good two percent before the market.

Pharma Royalty Shares , a biopharmaceutical licensing rights buyer, but fell about two percent ahead of market. Royalty Pharma includes Roche’s gantenerumab in its royalty portfolio.

A study by a skeptical analyst weighed on Teva’s stock
, which lost more than two percent in premarket business. The generics maker faces continued growth challenges, wrote analyst Chris Schott of US bank JPMorgan. Parts of the portfolio continue to erode, the generics business in North America is consistently below average, and the chances for the biosimilar rheumatism drug Humira can only be calculated to a limited extent./la/mis

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0259 2022-11-14/14:57

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