NEW YORK (dpa-AFX) – The US stock exchanges should be stable on Thursday after an initial recovery the day before. But there is little reason to be relieved. Despite renewed negotiations between Russia and Ukraine, airstrikes on the eastern European country have increased. A first meeting between the two countries on Monday had no tangible result. Continued hostilities in Moscow and the associated sanctions by the West drove oil prices up further – to their highest level since 2008.
Around three quarters of an hour before the start of the stock market, the broker IG assessed the leading index Dow Jones Industrial up 0.3 percent to 34,003 points and the technology-heavy Nasdaq 100 up 0.2 percent to 14,270 points. The day before, both indices had recovered somewhat from the recent price losses caused by the war and had each increased by almost two percent. In addition to hopes for negotiations in the Ukraine conflict, statements by US Federal Reserve Chairman Jerome Powell on the upcoming key interest rate decision had given a boost.
On the economic side, the indices could be moved by data on incoming orders in US industry and sentiment data on the service sector. These will be published shortly after the start of trading.
On the company side, there are still a few quarterly reports that should attract attention. According to market observers, the consumer electronics retailer Best Buy was partially disappointing with its annual report, but the longer-term outlook for 2024/25 is strong, it said. As a result, the stock rose sharply in the premarket.
The shares of Kroger also went up significantly before the market, because the food supermarket chain not only did better than expected in terms of earnings last year, but also exceeded market expectations with the goals for the current year./ck/jha/
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