Börse Express – New York Stocks Outlook: Dow expected to be stable


NEW YORK (dpa-AFX) – The Dow Jones Industrial is heading towards 37,000 points probably slower on Wednesday. The broker IG valued the leading Wall Street index at the previous day’s level at 36,800 points. So he will initially miss a new record of 36,935 points. The technology stocks concentrated on the Nasdaq stock exchange, on the other hand, are likely to start weaker. The indication from IG signals a discount of 0.4 percent for the Nasdaq 100 .

A rotation of investors in growth and value stocks is currently being observed on the stock markets, probably also in anticipation of rising interest rates soon. Accordingly, the Dow Jones Industrial got off to a good start to the year, the most famous US benchmark index gained 1.3 percent within two trading days, while the high-growth tech stocks measured on the Nasdaq 100 are on balance in the red.

Finally, there is hope that infections with the Coronavirus variant Omikron will be mild and that economic growth will not be stifled. Strong figures from the job service provider ADP underpinned this view in the middle of the week: In December, 807,000 jobs were created in the private sector, almost twice as many as expected by experts. At the end of the week, the official labor market report is expected from the USA.

“Everything stands and falls with the development of Covid-19,” said the private bank Metzler on Wednesday. “If the virus becomes endemic in a positive sense, economic hopes will rise accompanied by a continuation of the bull market on the stock market,” said the experts. In view of the very high number of new US infections, investors should not look too carelessly at Wall Street.

With a view to individual values, the focus was primarily on analyst comments. The Pfizer Shares, for example, rose by two percent in the pre-trading period after Bank of America recommended them to buy. The previous evening it became known that the US government would double its order for the promising Covid-19 drug Paxlovid. Conversely, the experts at the US bank gave their buy recommendation for Amgen
on. The papers of the pharmaceutical company fell by 1.4 percent in the pre-market period.

Meanwhile, in the technology sector, Salesforce is down
and Adobe further, the papers of the two software companies lost up to 3.3 percent before the market. The major Swiss bank UBS canceled its previous buy recommendations on Wednesday. At $ 240, Dow-listed Salesforce shares are heading for their lowest level since early August. Adobe would even mark a low since June below $ 538.

It goes even further downhill with the Tesla that slipped the day before -Shares with a pre-trading minus of 0.7 percent. The activist investor and short seller Fraser Perring tweeted in the morning that he was again betting on price losses. He raised the question of whether the major automaker Toyota
and Volkswagen are undervalued on the stock market or whether Tesla is simply overvalued.

Otherwise, General Motors was below the standard values
Pre-trading by almost one percent downhill. Sales figures for 2021 showed that the largest US manufacturer General Motors (GM) suffered a particularly severe slump – and lost its position as the top-selling provider in its home market for the first time in 90 years.

With the papers of the telecom giant AT&T on the other hand, it went up by about one percent before the market. Last year the group had more new mobile contract customers than in ten years. But there is also success in new business with streaming offers: According to initial calculations, the company’s own annual target of up to 73 million worldwide users was likely to be exceeded in 2021. / tih / jha /

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0198 2022-01-05/14:51

Copyright dpa-AFX Wirtschaftsnachrichten GmbH. All rights reserved. Redistribution, republication or permanent storage without the express prior consent of dpa-AFX is not permitted.


Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.