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A quiet start to the week

NEW YORK (dpa-AFX) – The Dow Jones Industrial should start the new week with important quarterly figures from US technology groups start slightly higher. The broker IG valued the New York benchmark index one hour before the start of trading on Monday with plus 0.17 percent to 34,100 points.

Thanks to robust economic data, the US indices had already recovered from their setback as a result of the tax increase plans of President Joe Biden last Friday, the market-wide S&P 500 had even reached another record high. The economists at DekaBank do not expect any lasting negative effects for shares from the planned increase in the capital tax, because “the interest rate prospects offer sustained support to the stock markets, as do many positive surprises in corporate profits.”

The Fed’s interest rate decision is due this Wednesday. And whether the heavyweights in the US technology sector know how to surprise, the quarterly reports from Alphabet and Microsoft will show on Tuesday, Apple on Wednesday and Amazon on Thursday. On this Monday after the stock market crash, the electric car manufacturer Tesla is already opening the books.

Ocugen’s papers, which had been noticed on the Nasdaq on Friday with wild price capers, were in high demand on Monday with a plus of 16 percent. Together with an Indian partner, the Americans are working on a Covid-19 vaccine. Signals for an imminent application for emergency approval from the US health authority had pushed the papers up by 47 percent at times before the weekend. However, the announcement of a sale of shares to institutional investors at a lower price took the wind out of their sails almost completely.

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