NEW YORK (dpa-AFX) – The start of the stock market week for the central banks and the numbers of large US technology giants could fail on Monday. Investors are initially hesitant about major events, particularly in the technology sector. This reacts particularly sensitively to rising interest rates. The US Federal Reserve’s outlook on further interest rate developments will therefore be particularly important on Wednesday.
The heavily technology-heavy Nasdaq 100 index was valued a good one percent lower at 12,032 points by broker IG an hour before the start. So far this year, however, he has had a particularly good run with an increase of more than eleven percent. Wall Street’s leading index, the Dow Jones Industrial, is seen less strongly on Monday at 33,771 points, down half a percent. So far this year, however, it has only increased by 2.5 percent.
In the course of the week, the course on the stock exchanges should be reset with the expected interest rate decisions. The US Federal Reserve will be the first to decide on its key interest rate on Wednesday, followed by the European Central Bank (ECB) and the Bank of England (BoE) on Thursday. The Fed is expected to hike interest rates by another 0.25 percentage point, further slowing the pace of rate hikes.
In addition, the results of the US companies Meta, Amazon, Alphabet and Apple will be given a lot of importance from the middle of the week. The prices of these tech industry giants fell between 0.5 and 1.4 percent before the market on Monday. Pierre Veyret from broker ActivTrades justified this with profit-taking. In Asia and Europe, a course correction in tech stocks had already taken place on Monday.
The medical technology group GE Healthcare, which was recently listed on the stock exchange, ended the past year with a decline in profits. Higher inflation-related costs and investments in research and development had a negative impact, as the competitor from Siemens Healthineers and Philips announced on Monday in Chicago (US state of Illinois).
Top-class quarterly reports from other industrial sectors are expected on Tuesday, such as UPS, Pfizer, McDonald’s, Caterpillar, General Motors and ExxonMobil.
Curevac is worth a look for news, the titles of the Tübingen vaccine researcher, which is listed in the USA, rose by 5.7 percent before the market. The shares are thus further stabilizing after their fluctuations, which had recently triggered encouraging early-stage study data on new Covid and flu vaccines. Curevac has now provided similar data again, which concern older adults for both indications./tih/mis
