NEW YORK (dpa-AFX) – After the weak start to the week, Wall Street should start an attempt at recovery on Tuesday. This should also be carried by price gains in the recently weak technology stocks. Stock market watchers are therefore more likely to speak of a technical recovery after the recent price setback. In their eyes, the market is still battered for the time being.
Just over an hour before the start of trading, the broker IG estimated the Dow Jones Industrial (Dow Jones 30 Industrial) with a plus of 0.45 percent at 34,157 meters. The technology-heavy NASDAQ 100 indicated an increase of 0.39 percent to 14 528 points.
At the beginning of the week, the Dow Jones Industrial and other important indices on Wall Street fell significantly, as oil prices climbed to multi-year highs on the occasion of the cancellation of Opec + to increase its production volumes very significantly. This had fueled already rampant worries in the markets that the rise in inflation might not be temporary, while at the same time the economic recovery appears to be stalling. This is paired with the fear that the central banks may react to this more quickly than expected.
In terms of data, the focus in the USA on this trading day is on the purchasing managers’ indices for the service industry, which, according to the Helaba experts, should continue to point to growth.
On the corporate side, commodity stocks remain in view with the rising oil price. As before in Europe, investors could also use the multi-day sell-off in the technology sector to pick up one or two bargains.
After their price slide the day before, Facebook shares (Facebook) were already in demand on Tuesday pre-market. While the systems of the social media company and its subsidiaries WhatsApp and Instagram are running again after the roughly six-hour failure at the beginning of the week, the focus is on the group on this trading day because of the questioning of a former employee and whistleblower before the US Senate.
A renewed increase in the annual forecast helped PepsiCo’s stocks to get going early on. The beverage giant is becoming even more optimistic as the third quarter also went well. The Coca-Cola rival benefited in the past quarter with more sales from brisk demand for soft drinks and snacks.
In addition, shares in the consumer goods manufacturer Procter & Gamble (ProcterGamble) might be worth a look – the analysts at Bank of America included them in their rating with a buy vote./tav/mis
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