NEW YORK (dpa-AFX) – Investors only cautiously ventured into the New York stock exchange on Thursday after the recent price drop and temporary stabilization. US economic data paints a mixed picture and offers little indication. The major equity indices fluctuated around the breakeven point, and after one hour of trading the signals returned to the red.
Der Dow Jones Industrial fell 0.02 percent to 31,129.97 points, other indices were under slightly more pressure. The S&P 500 at the market level it lost 0.35 percent to 3932.25 points. The technology-rich Nasdaq 100 selection index rallied more strongly the day before fell 0.74 percent to 12,044.30 points.
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. Now they expect the Fed to raise interest rates to 4.50%.
The new US economic data did not provide a clear picture. Industrial production surprisingly declined slightly in August, while retail sales surprisingly increased. In upstate New York, the industrial atmosphere has revived surprisingly, but in the Philadelphia region, the business climate has worsened considerably.
On the corporate side, these were Adobe investors
It is not a good thing that the group is about to acquire the Figma web design software company. According to Adobe’s announcement, the companies have agreed on a purchase price of around US $ 20 billion, a sum that investors are apparently initially suspicious of, as shown by the 13.3% drop in price to an April 2020 low. The transaction will be paid for in cash and treasury shares.
IT and software companies were generally on Adobe’s following investor sales lists. IBM documents
and Microsoft they were among the Dow’s biggest losers, down 1.7 percent and 2.0 percent. These included the chevron shares with a discount of two percent. In general, oil stocks, which were even more in demand the day before, are now back under pressure.
Netflix newspapers were up 4.2%.
. Evercore ISI has recommended shares of the streaming service with a target price of $ 300. Analyst Mark Mahaney sees huge opportunities in the cheapest, ad-funded Netflix subscription, which is expected to start in 2023. Most recently, the king of streaming had to look into the highly competitive market as competition strengthened. At $ 233, however, the share is a long way off the $ 700 fall 2021 record ./tih/jha/
ISIN US2605661048 XC0009694271 US6311011026 US78378X1072
AXC0281 2022-09-15 / 16: 48
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