NEW YORK (awp international) – There was initially little movement in the major US indices on Thursday. They had recovered the day before after US inflation data triggered a sharp setback on Tuesday.
In the middle of the week, the Dow Jones Industrial fell to its lowest level since mid-July, but eventually managed to turn positive. The broker IG rated the major US index a good hour before the start of trading, now just changed to 31,134 points.
Tech stocks were most in demand by investors the day before and have also remained above their recent interim low. The Nasdaq 100 Selection Index is now expected to be 0.3% lower at 12,096 points by IG.
After the unexpectedly significant price increase for US consumers, the weakening at the producer level the previous day helped to calm things down a bit, Credit Suisse said. Regardless, however, there is growing belief among experts that the US Federal Reserve will continue its tightening trend in interest rates, even if growth suffers. According to the latest data, the Swiss investment bank’s expectations on the US interest rate have increased by 50 basis points. Ultimately, they now expect the Fed to raise interest rates to 4.50%.
Meanwhile, the economic consequences of a strike in freight traffic could still be averted. The White House reached an agreement in negotiations with the unions and avoided the strike scheduled for Friday.
Shares of Netflix rose ahead of the market, up 2.3% to around $ 229. Evercore ISI recommended the streaming service’s shares with a target price of $ 300. Analyst Mark Mahaney sees huge opportunities in the streaming service. cheaper, ad-funded Netflix subscription, expected to start in 2023. More recently, the streaming king had to watch the highly competitive marketplace as competition strengthened. We’re miles away from Fall 2021’s $ 700 record.
Meanwhile, Adobe investors didn’t like the fact that the group is about to take over design software company Figma. Informed circles have said the deal would cost about $ 20 billion and could become official on Thursday. Quarterly data is also expected from Adobe after market close ./ag/mis
–
