NEW YORK (dpa-AFX) – After the new records last week, the US stock exchanges continued to be stable on Wednesday. Before the reporting season that started on Friday with the first US banks, investors continued to hold back. The inflation data did not provide any noticeable impetus either.
The leading index Dow Jones Industrial (Dow Jones 30 Industrial) fluctuated between minimal gains and losses in early business and recently rose by 0.02 percent to 31,075.28 points. The market-wide S&P 500 also barely moved with a plus of 0.08 percent to 3804.37 points. The technology-heavy NASDAQ 100, meanwhile, gained 0.38 percent to 12,941.45 points.
Last month, consumer prices rose by 1.4 percent compared to the same month last year, slightly more than expected. Core consumer prices – excluding components that usually fluctuate in price, such as energy and food – rose by 1.6 percent in December, as in the two previous months, which means that the Fed’s inflation target of around two percent is still undercut.
“In secret, the monetary authorities are likely to be pleased that there is no significant inflationary pressure,” said economist Thomas Gitzel from VP Bank in Liechtenstein on the data. “Imagine that inflation rates would rise significantly. In this case, the Fed or the ECB would have to take countermeasures, possibly scaling back their securities purchase programs. At the same time, the financial markets would start betting on higher interest rates current financial market events probably poison. ”
Among the individual stocks, the focus was on Intel shares, which rose 8.4 percent at the top in the Dow and Nasdaq 100. The chip company, which has recently come under increasing pressure, will change its boss in mid-February. The experienced tech manager Pat Gelsinger will take over Bob Swan’s top job. Gelsinger most recently headed the software specialist VMware – and had previously spent decades at Intel, including as head of technology. VMWare shares fell 5.5 percent on Nyse.
General Motors (GM) (General Motors) rose 2.5 percent in the S&P 500. The car company plans to invest around 27 billion US dollars in research, development and production of electric cars by 2025 and will bring a total of 30 different electric models onto the market by then. In addition, GM is building its own battery factory. So-called Ultium batteries are to be produced there, which enable significantly higher ranges. The company plans to produce one million e-cars a year from 2025.
The paper of the video conferencing service Zoom (Zoom Video Communications), which has raised 1.75 billion US dollars in fresh money through a share offer, went up and down. After a price loss, it recovered quickly and recently gained 1.3 percent. The capital increase placed 5.15 million shares at $ 340 each. The issue price was almost five percent below the closing price on Tuesday. In the next 30 days, Zoom can buy another 735,000 shares if the syndicate bank uses this option.
ExxonMobil’s stocks recently gained 1.0 percent and benefited from a buy recommendation from US bank JPMorgan. This had upgraded the papers of the oil company from “Neutral” to “Overweight “./ck/he
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