The market-wide S&P 500 gained 0.84 percent to 4390.90 meters. The technology-heavy Nasdaq 100 gained 0.67 percent to 15 128.43 points.
At the start of the week, fear of the troubled Chinese real estate sector had put pressure on the mood. Now the heavily indebted Chinese real estate giant Evergrande, according to its own statements, has ventured into interest payments, thus providing some relief on the stock market.
This means that the focus is on the Fed’s monetary policy in the middle of the week. After its two-day interest rate meeting, the central bank wants to announce new decisions in the course of trading. It is eagerly awaited whether the Fed will give a concrete signal for the expected turnaround in monetary policy. It is about the economic security purchases of the central bank of 120 billion US dollars per month. Experts anticipate a gradual reduction, starting around the turn of the year.
Among the individual values, the shares of Fedex plummeted at the S&P 500 end by eight and a half percent. The parcel service lowered its earnings target for the 2021/22 financial year after the first quarter of the financial year. The difficult conditions are likely to have an impact for some time to come, it said. In addition, in the first quarter of the business year, which ended at the end of August, Fedex fell far short of the market’s profit expectations.
In contrast, General Mills’ securities in the S&P 500 rose three percent. As figures from the food company for the first quarter of the fiscal year showed, both sales and earnings were above expectations. The company also confirmed its outlook for fiscal year 2021/22 at the upper end of the forecast ranges.
Looking at technology stocks, Facebook’s shares fell by almost four percent. The online network continues to struggle to adapt its advertising business to the increased privacy protection on the iPhone. The company was now trying to reassure its advertisers. The success of their ad campaigns has not sagged as much as incorrect Facebook data would suggest, it said in a blog entry./la/jha/
(AWP)
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