NEW YORK (dpa-AFX) – A solid start is expected on the New York stock exchanges on Friday. The most important indices are unlikely to make any major leaps: The Dow Jones Industrial (Dow Jones 30 Industrial) was valued three quarters of an hour before the start by the broker IG 0.3 percent higher to 34,562 points. The technology-heavy US index NASDAQ 100 also headed for a start with a slight increase. The previous weekly balance is different: So far, the Dow has lost 0.8 percent of its value in the past few days, while the Nasdaq index is up 1.4 percent.
The focus remains on gleaning the inflation data for May announced the day before, which brought the highest monthly price increase in 13 years. However, for the time being, investors were satisfied that the US Federal Reserve had already signaled that it did not want to react to the enormous rise in prices. She regards the development as a transitional phenomenon.
“The prospect of further central banker support from the ECB and Fed, the growing confidence in a tangible light at the end of the corona tunnel and the associated hope for an economic engine that is running at full speed, attracts investors time and again into the stock markets” said market expert Timo Emden. Close to the record level of almost 35,100 points, the Dow has not seen any major setbacks for a long time. The market-wide S&P 500 had only set a new record the day before.
The flow of messages on the corporate side initially remained thin on Friday. After an Alzheimer’s drug has been approved at the beginning of the week, analyst studies provide a topic of conversation at Biogen. After the share was upgraded by UBS the previous day, JPMorgan has now increased its price target very significantly to $ 435. Before the trading session, stocks continued their recent rally, up 1.3 percent.
On the other hand, the pre-trading period for the titles of the biopharmaceutical group Vertex (Vertex Pharmaceuticals) was down by a strong 14 percent. He had to accept a bitter disappointment in the experimental treatment of a hereditary disease that affects the liver and lungs. The end of the project was a major setback for efforts to broaden the company’s own product range, it said.
Meanwhile, the shareholders of the German vaccine hope CureVac, whose papers are mainly traded in New York, have also suffered a major setback. In the pre-trading session, they dropped by 9 percent after it was said that Federal Health Minister Jens Spahn was apparently no longer planning with the Corona vaccine./tih/mis because of the recent problems in the approval process for the current vaccination campaign
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