Börse Express – New York Stocks: Investors are shy after disappointing producer prices

NEW YORK (dpa-AFX) – Signs of persistently high inflation again caused uncertainty on New York stock exchanges on Friday. Sentiment remained subdued as producer price inflation slowed less than expected in November. With the losses of the last few days, however, much had already been discounted, so that the movements have stabilized at a moderate level. What is left is reluctance before the upcoming interest rate decision by the US Federal Reserve.

Der Dow Jones industrialist it fell 0.21 percent to 33,710.29 points two hours before the end, so much so that it is currently down a good two percent over the course of the week. S&P 500 at market level
but at 3962.03 points it was just below the previous day’s level. The high-tech Nasdaq 100
on the other hand, it recorded an increase of 0.19% to 11,659.74 points. Its weekly minus is still nearly three percent.

Producer prices released on Friday are seen as a harbinger of consumer pricing and the Fed’s interest rate decision next week. The pressure on the US Federal Reserve remains high for the moment in view of further interest rate hikes. Additionally, US consumer confidence improved surprisingly significantly in December. Such signs of economic strength could provide the Fed with arguments that the economy can cope with further significant interest rate hikes.

Netflix Newspapers rose 4.8% after US bank Wells Fargo issued a recommendation for the streaming service’s shares. The price surged to its highest level since this year’s second drop in April, which may now be leveled soon. In his study, analyst Steven Cahall positioned himself very optimistically for 2023 with renewed improvement in subscriber development.

Broadcom shares recorded an increase of 3.3%. The semiconductor company posted strong results in its fiscal fourth quarter and expects revenue for the current fiscal first quarter to exceed consensus estimates. UBS’s Timothy Arcuri saw this as evidence of the firm’s strong positioning in a challenging competitive environment.

However, DocuSign has climbed to the top of the Nasdaq 100 , where shares rose 14.2%. The software company specializing in electronic signatures reported adjusted earnings per share for the fiscal third quarter that nearly quadrupled the average analyst estimate.

On the weak side of the Nasdaq, Lululemon fell
on, which fell 13.4 percent after the release of economic data. The sports and yoga apparel maker had underwhelmed its profitability in the previous financial quarter and the outlook for the latest quarter did not look convincing compared to market expectations.

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0265 2022-12-09/20:09

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