(Repetition for technical reasons)
NEW YORK (awp international) – After the setback on Tuesday, the US stock exchanges started another attempt at recovery in the middle of the week. On the one hand, investors are weighing the significantly lower oil prices and the current economic data, and on the other hand, the increased prospect of earlier and faster increases in key interest rates. In addition, bargain hunters are back on the road, according to market experts who also warned against already “reading too much into the comments of Fed Chairman Jerome Powell”.
The coronavirus variant Omikron, which is classified as worrying due to its rapid spread and numerous mutations, also remains in view. How ill the virus actually makes cannot yet be estimated due to the lack of sufficient data and since mainly young people have been infected so far.
The Dow Jones Industrial made up some of its previous day’s losses in early trading, rising 1.21 percent to 34,899.77 points. The market-wide S&P 500 advanced 1.54 percent to 4637.34 meters. On the Nasdaq, the selection index 100 rose 1.29 percent to 16,344.76 points.
On the data side, the main focus was on sentiment in US industry, which brightened slightly less than expected in November.
Papers from vaccine manufacturers such as Biontech, Moderna or Novavax gave up further parts of their latest profits and were 2.8 to 5.7 percent in the red.
The shares of Merck & Co, meanwhile, rose by almost two percent, because an advisory committee of the US drug agency FDA recommended emergency approval for a corona drug from the pharmaceutical manufacturer. The recommendation is not binding on the FDA, but the authority usually follows the assessment of the consultant.
A cautious outlook broke the shares of the software manufacturer Salesforce a loss of almost seven percent in the Dow. However, business in the past quarter went better than expected.
The situation was similar with the information technology company HP Enterprise: Here, too, a disappointing outlook outweighed a good quarterly report, so that the papers lost 1.1 percent. / Ck / mis
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