NEW YORK (dpa-AFX) – The US stock markets are likely to start the new week with significant price reductions. Speculation that the fight against inflation and China’s tough measures to contain the corona pandemic will weigh on economic growth should put pressure on traders. The Dow Jones Industrial
the broker IG rated around 1.2 percent lower at 32,510 points three quarters of an hour before the start of the stock market. The tech-heavy Nasdaq 100 is seen in the red at around 2.2 percent.
A wave of risk aversion swept global markets after Friday’s US jobs data left little room for a more dovish monetary policy stance by the US Federal Reserve, sources said, citing the threat of further rate hikes. The short-term outlook for equities “is still chaotic and there could be more downside as markets worry about a significant economic slowdown or ‘hard landing’ and aggressive rate hikes,” noted economist Diana Mousina of AMP Investments.
Comments by Chinese Premier Li Keqiang over the weekend are also likely to weigh on market sentiment. The politician had warned that the country’s employment situation had “seriously” deteriorated due to the massive Covid restrictions.
Among the individual stocks should be Biontech shares
attract investor interest. The corona vaccine manufacturer once again significantly increased sales and profits in the first quarter. In the quarter that ended at the end of March, there was a net profit of around 3.70 billion euros on the books after around 1.13 billion a year earlier. Sales increased from 2.05 to 6.37 billion euros. Biontech confirmed the sales target for its corona vaccine of 13 to 17 billion euros for 2022. In pre-market trading, the Biontech papers recently rose by 1.3 percent.
Coty’s shares gained 3.2 percent premarket. The cosmetics group increased its annual target for adjusted earnings per share. The company continues to expect like-for-like sales to be at the high end of the target range./edh/jha/
ISIN US2605661048 US6311011026 US78378X1072
AXC0242 2022-05-09/15:00
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