Börse Express – New York Stocks Outlook: Biden euphoria gives way to corona worries again

Weak business figures from the technology industry should weigh on the last record-hungry Wall Street on Friday. In early trading, investors also expect economic data from the world’s largest economy.

Just under three quarters of an hour before the stock market launch, the broker IG assessed the Dow Jones Industrial almost 0.7 percent lower at 30,968 points. The best-known American stock index is still heading for a weekly profit of half a percent. Like the other major indices, it climbed to a new record on Thursday, but then closed just below the red. The technology exchange Nasdaq, which had largely maintained its profits the day before, is also threatened with price losses before the weekend.

Slowly but surely, the euphoria about Joe Biden’s assumption of office is giving way to corona worries again. In addition, the new US president’s plans for a huge new stimulus package to combat the effects of the pandemic are meeting with resistance in the Senate. His Democratic Party has a slim majority there thanks to the vote of Biden’s Vice-President Kamala Harris. For many measures, however, Biden is dependent on dissenters from the ranks of the Republicans.

The shares of Intel lost over five percent on the pre-trading day on Friday, although the chip company had significantly exceeded business expectations in the past quarter, as it became known on Thursday after the end of trading. However, the shares had already rallied before that and temporarily reached their highest level in June.

The computer veteran IBM had meanwhile reported a mixed business development after yesterday’s closing bell: surprisingly good results contrasted with a more significant than expected decline in sales. The shares slumped by more than eight percent before the market.

At Schlumberger Before trading began, there was a minus of almost two and a half percent. The fact that the oil field service provider surprised positively with earnings per share despite a decline in sales did not help the shares, which were already very weak on Thursday. They suffered as did the oil giant Chevron titles
and Exxon Mobil amid negative industry sentiment as oil prices visibly extended their early losses./gl/jha/

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0224 2021-01-22/15:10

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