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NEW YORK (dpa-AFX) – The US stock exchanges are likely to embark on a recovery course on Thursday. Investors seem to be leaving the sharp rise in inflation in April and the associated concerns about rising interest rates behind for the time being. Current economic data have meanwhile turned out to be mixed.
The broker IG valued the Dow Jones Industrial (DJI) (Dow Jones 30 Industrial) around three quarters of an hour before the start of trading as stable at 33 595 points. At the beginning of the week, the most important Wall Street barometer had climbed above the 35,000 mark for the first time. On Wednesday it fell well below 34,000 points again.
According to IG, the technology-heavy NASDAQ 100 index indicates an increase of 0.75 percent to 13,100 points.
The weekly requests for unemployment benefits fell more sharply than expected, which should have a relieving effect after the all-round disappointing labor market report for April. Producer prices, on the other hand, which are particularly in focus after the previous day’s inflation data, rose more sharply than expected in April.
There was positive news from CureVac. The biopharmaceutical company from Tbingen, listed on the Nasdaq, provided information on new study results. In a preclinical study, a second-generation Covid-19 vaccine candidate showed high immunity to mutations of the corona virus. After heavy losses the day before, the shares jumped up by almost 6 percent.
Otherwise, Alibaba should be the focus of the individual stocks. The Chinese Internet giant presented its figures for the fourth fiscal quarter. Although sales rose more sharply than analysts had expected, the statements made by CEO Daniel Zhang about investment plans probably didn’t appeal to investors. The share fell by 3.0 percent for the time being.
After the close of trading, the media group Walt Disney will then present quarterly figures, as will the online portal for accommodations, Airbnb and the newcomer to the market and online food supplier DoorDash./ck/jha/
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