Börse Express – New York Stocks Outlook: Stable

NEW YORK (dpa-AFX) – After three slightly weaker trading days in a row, the US stock market is expected to be stable by the middle of the week. The energy prices, which are currently weakening again, are supporting the slightly positive market sentiment. At the same time, however, the recently published consumer prices are causing new stomach aches. US inflation picked up again somewhat in September. Analysts had, on average, expected the inflation rate to remain unchanged compared to the previous month.

The focus is also on the start of the reporting season, which the major bank JPMorgan Chase ushered in this Wednesday with the publication of its figures. As expected, the US government’s default was also averted for the time being. On Tuesday evening, the House of Representatives also approved a short-term increase in the debt ceiling in order to give the government financial leeway at least until the beginning of December. US President Joe Biden has yet to sign the law.

The broker IG assessed the leading index Dow Jones Industrial
around three quarters of an hour before the start of trading, 0.06 percent up at 34,400 points. The Nasdaq 100
is expected to be 0.26 percent higher at 14,700 points.

In the US, consumer price increases accelerated again in September. The annual inflation rate rose from 5.3 percent in the previous month to 5.4 percent, as the Department of Labor announced in Washington on Wednesday. Economists had expected an unchanged rate on average. With the rise, inflation in the US returned to the level of the summer months of June and July, when the rate had reached its highest level since 2008.

Depending on the variety, oil prices are currently hovering above and around 80 US dollars per barrel and are thus close to multi-year highs. There are still great concerns that the oil price rally could lead to energy bottlenecks and stifle the global economy, which is recovering from the corona crisis.

The quarterly figures of the US bank JPMorgan Chase should be among the individual values be the most important event of the day. Before the trading day, the share went up by 0.6 percent. 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.

We are now eagerly awaiting how the other banks have done. This Thursday, among others, Morgan Stanley will follow with their annual reports who have favourited Citigroup and also Bank of America
.

Qualcomm had announced a new share buyback program for ten billion dollars the evening before, as a result of which the papers of the semiconductor manufacturer, which is geared towards the wireless communications sector, rose by 1.8 percent before the start of trading.

Apple meanwhile lost 0.7 percent. According to informed sources, the IT company could cut its annual production target for the iPhone 13 by up to 10 million units due to the supply shortages of semiconductors. / Ck / men

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0218 2021-10-13 / 14: 59

Copyright dpa-AFX Wirtschaftsnachrichten GmbH. All rights reserved. Redistribution, republication or permanent storage without the express prior consent of dpa-AFX is not permitted.

– .