NEW YORK (dpa-AFX) – After the friendly closing trend at the start of the week, the US stock markets should go down a bit on Tuesday. The dominant topic should again be the further development of the debt dispute. In addition, some important economic data are on the agenda, which could provide fresh impetus for the stock exchanges.
The broker IG appraised the US leading index Dow Jones Industrial around three quarters of an hour before the start of trading 0.3 percent lower at 33,242 points. IG expects the Nasdaq 100 to fall by around 0.2 percent at 13,383 points.
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A meeting between US President Joe Biden and senior representatives of the Republicans and Democrats on the US debt dispute is expected later today. According to Treasury Secretary Janet Yellen, the US government could run out of money on June 1 if there is no agreement on raising the debt ceiling. In their estimation, this would result in a collapse on the financial markets and a massive recession.
The already published data on retail sales in April was as expected with an increase of 0.4 percent and had little influence on the pre-market development of the leading indices. In addition, industrial production and capacity utilization for April and the NAHB real estate index for May will also be announced.
Among stocks, investors could be focusing on Home Depot, which is down 2.6 percent in premarket trading. The US home improvement chain cut its full-year targets after first-quarter sales fell more than expected. Apparently, economic uncertainty had caused home improvement spending to fall.
Horizon Therapeutics shares are down 17 percent premarket. According to the media, the US competition and consumer protection authority FTC is likely to file a lawsuit this Tuesday to block the $27.8 billion purchase of Horizon by the biopharmaceutical company Amgen. As a result, Amgen shares rose 0.8 percent premarket.
Capital One shares are up 6.5 percent premarket. It had previously become known that the Berkshire Hathaway investment company owned by cult investor Warren Buffett had joined the financial services provider./edh/tih
2023-05-16 13:11:18
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