Equities New York Outlook: Dow off to a solid start

NEW YORK (dpa-AFX) – After a mixed day before, no big jumps are to be expected on the US stock exchanges on Thursday. The broker IG valued the leading index Dow Jones Industrial an hour before the start 0.16 percent higher to 31,488 points. With a solid start, however, the record remains within reach: the day before, the Wall Street price barometer temporarily exceeded the 31,500 mark for the first time.

The US Federal Reserve is currently again the subject of discussion. Market observer Thomas Altmann from QC Partners pointed out that President Jerome Powell had dampened worries about higher market interest rates during an online event the day before, by not seeing any inflationary specter in the US. “That was exactly what the stockbrokers wanted to hear,” said Altmann. A further rise in interest rates could have made bonds more attractive compared to stocks.

However, at the last level reached with ever new records, the market-wide S&P 500 and the technology-heavy Nasdaq 100 are now only making slow progress. Altmann currently sees a fight between bulls and bears on the stock exchanges. “The cops do not give up. At the same time, the number of bears on the floor is increasing,” said the expert.

Among the investors it was on Thursday, among other things, to process the numbers from Pepsico. After the investors at the competitor Coca-Cola reacted cautiously the day before, this also applied to a certain extent for the second large shower manufacturer. The Pepsi shares moved pre-market but at least 0.6 percent in the plus.

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The shares of Kraft Heinz fared better, rising by two percent in over-the-counter trading. The ketchup company had exceeded expectations in the fourth quarter. At the driving service agent Uber, on the other hand, after a rally the day before, which went hand in hand with competitor Lyft, according to the figures now presented, it fell 1.7 percent.

The feedback from investors at the online game specialist Zynga and the vacuum robot manufacturer iRobot was clearly better. Their papers advanced by 4.8 and 8.3 percent respectively. In the case of Zynga, stocks could rally from one high since 2012 with a continued rally.

Investors reacted euphorically to better-than-expected figures from loudspeaker specialist Sonos, whose shares set a new record with a price jump of 17.5 percent.

The latest speculations about stocks like Gamestop are no longer causing waves on the market as a whole, but they are still making waves for individual stocks. Sundial Growers cannabis shares have now become the focus of speculators exchanging information on the Internet. After a price jump of almost 80 percent the previous day, they shot up further before the market, most recently by 31 percent. The internationally debated legalization of marijuana./tih/fba has been creating a stir here recently

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