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NEW YORK (dpa-AFX) – After new inflation data, the US stock markets continued their recent recovery on Wednesday. Consumer prices in the US rose by 7.0 percent compared to the same month last year. This is the highest inflation rate since 1982, but it was expected by analysts. The pressure on the US central bank is now easing a little, and potential measures by the monetary authorities have already been incorporated into the courses, said market expert Andreas Lipkow from the Comdirect.
The leading index Dow Jones Industrial (Dow Jones 30 Industrial) gained 0.50 percent to 36,436 points in the first hour after opening. The market-wide S&P 500 advanced by 0.70 percent to 4746 points. For the tech-heavy NASDAQ 100 – still at its lowest level since mid-October on Monday – the recovery rally continued, gaining 0.99 percent to 16,001 points.
Meanwhile, the yield on ten-year paper on the US bond market fell again toward 1.7 percent. That, too, brought relief. However, strategist Marko Kolanovic from the investment bank JPMorgan sees no real burden on shares even in rising interest rate expectations and capital market returns. Rather, they speak for shifts from growth stocks to valuable stocks.
The day before, US Federal Reserve Chairman Jerome Powell had already calmed the markets and emphasized the economic strength of the United States. Because of the strong economy and the high rate of inflation, he had signaled an increase in the key interest rate for the period from March.
Among the individual stocks, the focus is on the shares of Biogen with a price slump of 9.5 percent in the middle of the week. The US public health insurance company wants to severely limit the assumption of the immense costs for Biogen’s Alzheimer’s drug Aduhelm. The papers of the pharmaceutical company Eli Lilly (Eli Lilly and), which is developing an even more promising Alzheimer’s drug according to investors, fell by 4.3 percent.
Meta (Meta Platforms (ex-Facebook)) shares were up 0.3 percent, unfazed by a negative court ruling. The competition lawsuit, with which the US government wants to break up the Facebook operator, has been accepted by a court in Washington at the second attempt. Judge James Boasberg saw the allegation of unfair competition in the improved lawsuit and also rejected Facebook’s request to dismiss the lawsuit.
In the Dow, Microsoft stocks were up 2.5 percent. This was followed by the shares of Boeing, which had already been the day’s winner with a strong profit the day before, with a plus of 2.2 percent. At the back of the leading index on Wednesday were the shares of the pharmaceutical company Johnson & Johnson (JohnsonJohnson) with minus 1.6 percent./ajx/he
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