Indices in this article
NEW YORK (dpa-AFX) – The Dow Jones Industrial (Dow Jones 30 Industrial) made up for interim losses on Wednesday. The surprising rise in inflation last month did not cause investors lasting concern. Instead, investors are now waiting for the minutes of the US Federal Reserve’s latest interest rate meeting. It may contain hints on how the Fed should proceed.
The Dow was recently listed slightly higher at 34 388.58 points. After initial losses, the S&P 500 gained 0.32 percent to 4364.72 points. For the technology-heavy NASDAQ 100, it rose 0.78 percent to 14,776.29 points.
In the US, consumer price increases accelerated again in September. The annual inflation rate rose surprisingly from 5.3 percent in the previous month to 5.4 percent. Economists had expected an unchanged rate on average.
The focus was also on the start of the corporate reporting season, which the major bank JPMorgan Chase (JPMorgan ChaseCo) had ushered in this Wednesday with the publication of its figures. The economic recovery from the Corona crisis brought the bank a surprisingly high surplus in the summer, with the merger consulting business also generating the highest quarterly profit to date. However, according to Brsians, the subdued credit growth overshadowed the figures. JPMorgan’s shares, which had already performed well this year, fell 2.5 percent, making them one of the worst stocks in the Dow.
We are now eagerly awaiting how the other banks have done. Morgan Stanley, Citigroup and Bank of America, among others, will follow this Thursday with their annual reports.
Qualcomm (QUALCOMM) had announced a new share buyback program worth ten billion dollars the evening before, as a result of which the papers of the semiconductor manufacturer, which is oriented towards the mobile communications sector, rose by a good two percent.
Apple’s shares fell 0.7 percent. According to the Bloomberg news agency, the IT group could cut its annual production target for the iPhone 13 by up to ten million units due to the supply bottlenecks in semiconductors./la/he
–
