NEW YORK (awp international) – At the start of an eventful week, investors in the United States showed courage. The Dow Jones Industrial gained 0.9% to 33,786 points two hours before the end of trading. The market-wide S&P 500 rose 0.6% to 3958 points. The Nasdaq 100 technology-selective index, which was meanwhile in the red, rose about 0.3% to 11,595 points.
FX experts at Commerzbank talk of a “Fed/ECB double boom” ahead of Thursday’s eurozone decision, just one day after the Fed. It will be too soon for either central bank to green light inflation. According to the experts, however, the market expects a rapid decline in inflation. Producer prices have recently been disappointing in this respect. With US consumer price data for November, the next major signal generator for US monetary policy is on Tuesday’s agenda.
The US Federal Reserve is generally expected to raise interest rates by just 0.50 percentage point at its Wednesday meeting. In the last four meetings, the Fed was up 0.75 points.
Takeover reports have caused particularly strong price movements. Shares of enterprise technology platform Coupa Software jumped nearly 27% to $78.79. US investment firm Thomas Bravo had announced it would buy Coupa for $81 a share in cash and then sell it privately.
Horizon Therapeutics was up a good 15 percent to $112.06. The New York-listed Irish biopharmaceutical specialist for rare diseases has been targeted by Amgen. The Americans are offering $116.50 per share in cash. That’s a whopping $26 billion in total. Horizon supports the offer.
The initially suspended collaboration between Mercedes-Benz and Rivian to jointly produce e-transporters pushed shares of the electric car maker more than 5% to their lowest level since July. As announced by both parties, the US company is currently preferring other projects./ag/men
