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NEW YORK (dpa-AFX) – On Wall Street, the record run could continue on Tuesday. Further strong quarterly reports from large corporations should support the optimistic mood among investors. At the same time, however, the US Federal Reserve (Fed) meeting is attracting more attention and is likely to cause restraint. However, the results will not be announced until Wednesday.
The broker IG estimated the Dow Jones Industrial (Dow Jones 30 Industrial) around three quarters of an hour before the start of trading, 0.2 percent up to 35,970 points. The best-known Wall Street index is thus again approaching the 36,000 point mark, which it had crossed for the first time the previous day in the course of trading.
The NASDAQ 100 is expected to be 0.1 percent lower at 15,885 points after it – like the Dow, the S&P 500 and the Nasdaq Composite (NASDAQ Composite Index) – had reached another high the day before.
“There is now consensus that the Fed will announce its entry into the exit from the ultra-loose monetary policy,” said portfolio manager Thomas Altmann of QC Partners. The stock exchanges were therefore expecting a concrete timetable for the reduction in monthly bond purchases, which should begin this year, by the middle of the week.
Among the individual values in the Dow, the pharmaceutical company Pfizer should be in focus with its quarterly report, because it reported strong profits thanks to strong sales with its Covid-19 vaccine, which is produced together with Biontech (BioNTech (ADRs)). Primarily it went up for the share by almost three percent.
Under Armor also submitted its annual report. The sporting goods manufacturer raised its annual targets again, which resulted in an advance increase of almost ten percent.
A takeover was the focus of the figures presented by Dupont (DuPont de Nemours): The specialty chemicals group, which has cut its annual targets due to the shortage of semiconductors, announced an takeover at the same time. He wants electronic materials specialist Rogers Corp. (Rogers) for $ 5.2 billion. Primarily, the Dupont papers rose by half a percent recently, while Rogers jumped up by almost 30 percent.
Meanwhile, Tesla (Tesla) founder and boss Elon Musk informed via Twitter that an announced large order by the car rental company Hertz with the electric car manufacturer Tesla has not yet been signed. Hertz announced towards the end of October that it had ordered 100,000 cars from Tesla, which should be delivered by the end of 2022, which had driven the price of Tesla shares even higher. The stock market value had then cracked the trillion mark for the first time. Now Tesla’s stock was preliminarily almost four percent down.
Shortly after Hertz announced the purchase, Musk tried to put the importance of the deal into perspective for Tesla. Among other things, he called it “strange” on Twitter that the news had moved the course – because Tesla has no demand problem, but cannot ramp up production fast enough. Musk also emphasized that there would be no discount for Hertz./ck/mis
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