NEW YORK (dpa-AFX) – The brilliant November rally on Wall Street threatens to run out of steam in the middle of the week. On Wednesday in early trading, the US leading index Dow is likely to wrestle with the 30,000 mark, above which it rose the day before for the first time in its history. Broker IG estimated the Dow a good hour before the starting bell 0.15 percent lower to these 30,000 meters.
The holiday Thanksgiving on Thursday could cause restraint among investors and presumably falling stock market turnover. Many stockbrokers use this for a long weekend. Investors mostly keep a low profile beforehand. You could also choose to take gains during the day. After all, the Dow jumped a good 13 percent or more than 3500 points in November alone.
The accumulated good news about Covid-19 vaccines and the prospect of a regulated transition of the US presidency had recently proven to be the drivers of the course. Investors celebrated both by buying shares.
A whole series of economic data hardly moved the prices before the trading day. Economic growth in the US recovered by almost a third, as expected, in the third quarter. However, market participants are likely to focus on the fourth quarter long ago. Because of the Christmas business, the final quarter is of great importance for private consumption, which is extremely important for the economy as a whole.
There were major price fluctuations in the second row before the market: papers from the clothing retailer Gap sagged by eleven percent after the publication of quarterly figures. The Morgan Stanley analysts criticized the very high sales costs that would have depressed profits. However, the gap rate had quadrupled in the past seven months.
Shares in the agricultural machinery manufacturer Deere rose 2.9 percent before the market. The Illinois company increased net income nearly five percent in the fourth fiscal quarter. Shares in the PC and printer manufacturer HP Inc rose by 5.3 percent after quarterly figures./bek/mis