NEW YORK (dpa-AFX) – The US stock markets are likely to open with moderate gains in the middle of the week. The broker IG valued the leading index Dow Jones Industrial around an hour before the start of trading 0.23 percent higher to 34 392 points.
Comments from US Federal Reserve officials continue to support the Fed that the inflationary pressures signaled by the latest US economic data are temporary. Central bankers around the world downplayed the risk of rising prices, it said from the trade. The question is how long the Fed and other central banks can hold on to stimulating monetary policy if economic data continues to show price pressures. “What we keep hearing from the Fed is that this time around they will take a completely different approach to inflation,” said Kristina Hooper, Invesco’s chief strategist for global markets.
Among the individual stocks, the focus could be on the shares of Amazon. The world’s largest online retailer buys the Metro-Goldwyn-Mayer (MGM) film studios. The “Financial Times” (“FT”) and other media had already reported on this the previous week. With the film studio, Amazon could strengthen its streaming service Prime Video in the increasingly tough competition, it said.
Beyond that, the news apparently faded that the US capital Washington prosecutor had charged Amazon with anti-competitive practices. The company forbids independent sellers to offer their products cheaper on other platforms, which leads to unnaturally high prices for consumers, it said. In the pre-market trading, the Amazon papers were recently listed 0.7 percent higher.
The shares of Gamestop and AMC Entertainment continued their rally the day before and rose by a good 11 and just under 9 percent before the market. On Tuesday, the titles of the video game retailer GameStop rose by more than 16 percent and closed above the $ 200 mark for the first time since mid-March. The shares of the AMC cinema chain had jumped by almost 20 percent the day before.
According to market observers, the sharp rise in both stocks could lead short holders to exit their declining positions by buying back the stocks and creating additional demand. This will lead to even higher prices, as happened a few months ago./edh/mis
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