indexes in this article
NEW YORK (dpa-AFX) – Recession concerns keep investors in the US stock market in check on Wednesday. The day before, the leading US index Dow Jones Industrial (Dow Jones 30 Industrial) slipped below the 30,400 point mark before making up for a large part of its losses. However, with a total of 30,967 points – unlike the Nasdaq 100, which is long-lasting in terms of technology stocks – it was not enough for a jump into the profit zone. The broker IG appraised the Dow Jones around an hour before the midweek open 0.24 percent lower to 30,895 points.
The Dow had recently recovered somewhat from its most recent low since the end of 2020 at 29,653 points. Hopes for a more moderate turnaround in interest rates in the USA were primarily responsible. However, fears of inflation and recession continue to plague investors. This is also reflected in the recent slide in oil prices and the euro’s 20-year low against the US dollar, given the weak picture of the economy in the US Eurozone. But the US economic prospects are not particularly rosy either, as the experts at the major bank JPMorgan recently explained. The decisive factor is whether a recession turns into a recession.
Broker IG expects the NASDAQ 100 to be 0.36 percent lower at 11,738 points on Wednesday, after gaining a good one and a half percent the day before. Its most recent low since November 2020 was 11,037 points in June.
Among the individual stocks, a look at the chip sector could be worthwhile again. The day before, the news agency Bloomberg had reported, citing insiders, that the US government was pushing for an export ban to China for certain systems from the Dutch company ASML for chip production. This involves so-called DUV systems, which are no longer state-of-the-art, but are used to produce many standard electronic chips for cars, smartphones and robots.
Amazon should also be kept in mind. Industry giant Just Eat Takeaway (Just Eat Takeawaycom) and Amazon join forces in the fiercely competitive food delivery business in the United States. US customers of Amazon’s Prime payment plan can use the subscription version of the GrubHub delivery service free of charge for one year, with no delivery fees. Amazon also secured a stake of up to 15 percent in Grubhub via options. Before the market, the Amazon papers were hardly moved.
Shares in Saber Corp gained around 4 percent premarket after analysts at Bank of America commented positively on the provider of technical solutions for the travel and tourism industry./mis/jha/
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