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NEW YORK (dpa-AFX) – New York stock market prices rose significantly on Wednesday following the US Federal Reserve’s interest rate decision. As expected, the Fed again sharply raised the benchmark interest rate by 0.75 percentage points. The background of the significant tightening is very high inflation.
At the same time, monetary watchdogs have pointed out that the previously aggressive monetary stance may now gradually reach its final stage. Equity investors are likely to have welcomed this as rapidly rising interest rates put a strain on the equity market as other asset classes are becoming more attractive as a result.
The interest rate decision was entirely welcome to stock brokers, said portfolio manager Thomas Altmann of asset manager QC Partners. “The hopes of equity market participants could come true. The Fed could leave the gas pedal as soon as the next interest rate meeting in December.”
The leading Dow Jones Industrial Index it rose to over 33,000 points after the decision and most recently recorded a 0.83 percent increase to 32,925.77 points. The S&P 500 at the market level gained 0.50 percent to 3875.54 points. The high-tech Nasdaq 100 was 0.45 percent higher at 11,339.89 points. Prior to the Fed’s decision, all three indices had been in the red most of the time.
Boeing shares earned at the top of the Dow a good six percent, with which they reacted to the statements of the investor day of the US aircraft manufacturer. As a result, Boeing expects free cash flow of $ 10 billion by the middle of the decade.
Dupont becomes the electronic materials specialist Rogers Corporation but don’t buy it. The necessary clearances from all regulatory authorities could not be obtained in time. The US $ 5.2 billion acquisition was announced a year ago. Rogers shares fell more than 43%, while Dupont shares rose 7%.
After the travel boom in the summer, the Airbnb apartment broker has quieted down
expectations for the last quarter. Revenues are expected to peak at $ 1.9 billion, up from $ 2.9 billion last year. This was not well received by investors as the share price fell nine percent.
Shares Estee Lauder reacted to the latest business development with a price discount of around 6%. The cosmetics giant has disappointed investors by lowering its goals for the second quarter.
Advanced Micro Devices (AMD) titles. rose by about three and a half percent. The semiconductor group had anticipated some strength in its data center business and had promised to be particularly cost-sensitive.
For Mondelez newspapers it also increased by three and a half percent according to quarterly data. The candy maker has exceeded expectations across the board, wrote UBS./ajx/nas
ISIN US2605661048 US6311011026 US78378X1072
AXC0356 2022-11-02 / 19: 37
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