NEW YORK (dpa-AFX) – On Wall Street, the Dow Jones Industrial
ready for a rebound after four consecutive days of defeat. The major US index clearly became in positive trading territory on Tuesday. After an initial steep decline, the most important tech indices have recently been only slightly in the red.
The Dow was up 1.15% to 29,538.55 points. For the S&P 500 at the market level rose 0.40 percent to 3626.70 points. This stock market barometer had meanwhile slipped to its lowest level since November 2020. The Nasdaq 100 Technology Index
fell 0.16 percent to 10,909.31 points.
Meanwhile, concerns about growth remain omnipresent. “The stressful subject areas are diverse,” said Essen National Bank analyst Frank Wohlgemuth. The solutions are very difficult, if at all, to find.
Wohlgemuth believes a break in the uptrend is unlikely for now, as long as there are no signs that the sharp hikes in interest rates will come to an end. In this context, we look forward to what will be published in the minutes of the meeting of the US Federal Reserve Board on Wednesday. Furthermore, the latest inflation data in the US is already casting its shadows, which is expected to be released on Thursday. Fighting high inflation is currently the Fed’s main concern. In return, it is willing to accept the high economic damage caused by rising costs for loans and financing.
Uber shares were counted on the stock exchange and lift
among the biggest losers, down eight and ten percent respectively. Transportation company stock certificates were affected by the US Department of Labor’s proposal to classify their independent contractors as employees.
The cards of Zscaler collapsed by five and a half percent. Analysts rated the unexpected resignation of company chief Amit Sinha as bad for the security software maker.
Shares of Chinese tech companies have also come under pressure. So the Baidu search engine paid more than five and those of the online retailer Alibaba a good four percent. Weak tourism data during non-business Golden Week in early October, rising Covid cases, and new U.S. restrictions on chip technology exports weighed on sentiment. Furthermore, investors are currently eagerly awaiting the direction the government will take at the next Communist Party National Congress.
Amgen’s shares meanwhile it has skyrocketed to the top of the Dow by a good six percent. Experts from analyst Matthew Harrison of US bank Morgan Stanley see the biotech group’s stocks as a defensive investment and, with new products, promising.
Says Therapeutics was capitalized
with a price jump of a whopping 63 percent. The biopharmaceutical company announced that the psoriasis drug DC-806 would be further developed after positive interim data. These would have shown good tolerability and an excellent safety profile
ISIN US2605661048 US6311011026 US78378X1072
AXC0317 2022-10-11 / 19: 53
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