NEW YORK (dpa-AFX) – The US stock exchanges largely made up for their significant previous day’s losses on Tuesday. The recovery was supported by better-than-expected sentiment data from the service industry. However, market observers see no sign of a pronounced further catch-up race in the rising prices. The recovery was strongly supported by the recently particularly weak technology stocks, which is why the market will continue to suffer, it said.
In addition, wrote analyst Edward Moya from broker Oanda, the uncertainties surrounding the payment difficulties of the Chinese real estate giant Evergrande persist and the dispute over the debt ceiling between Democrats and Republicans will probably continue for a few more weeks.
The Dow ultimately rose 0.92 percent to 34 314.67 points. The S&P 500
On Monday, the most important US indices fell sharply in some cases, as the oil production group Opec + is not increasing its daily production in November more than planned despite the shortage on the world market. Oil prices climbed to multi-year highs and again raised concerns about inflation.
The ISM index in particular offered relief for the month of September, which surprisingly brightened significantly to 61.9 points. “The mood in the service industry is still very good,” wrote Helaba expert Ulrich Wortberg. The higher than expected index level of the ISM also suggests continued growth. Although the high energy costs are a risk for consumer spending and macroeconomic dynamics, according to Wortberg, the sentiment indicators do nothing to prevent the US Federal Reserve (Fed) from reducing its expansionary monetary policy measures in November ./ck/he
ISIN US2605661048 US6311011026 US78378X1072
AXC0388 2021-10-05/22:17
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