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NEW YORK (dpa-AFX) – On Wall Street, the record run could continue on Tuesday. Further strong quarterly reports from large corporations should support the optimistic mood among investors. At the same time, however, the meeting of the US Federal Reserve (Fed) is moving more closely into focus and is likely to cause restraint. However, the results will not be announced until Wednesday.
The broker IG assessed the Dow Jones Industrial around three quarters of an hour before the start of trading, 0.2 percent up to 35,970 points. The best-known Wall Street Index is thus once again approaching the 36,000 point mark, which it had crossed for the first time the day before in the course of trading.
The Nasdaq 100 is expected 0.1 percent lower at 15,885 points after it – like the Dow, the S&P 500
and the Nasdaq Composite – had set another record the day before.
“There is now consensus that the Fed will announce its entry into the exit from the ultra-loose monetary policy,” said portfolio manager Thomas Altmann of QC Partners. The stock exchanges were therefore expecting a concrete timetable for the reduction in monthly bond purchases, which should begin this year, in the middle of the week.
The pharmaceutical company Pfizer is likely to be among the individual stocks in the Dow
with his quarterly report in view, because he reported thanks to strong sales with his jointly with Biontech
Covid-19 vaccine manufactured strong profits. Before the trading day, the share went up by almost three percent.
Under Armor too put his annual report. The sporting goods manufacturer raised its annual targets again, which resulted in a pre-market plus of almost ten percent.
A takeover was part of the Dupont figures In focus: The specialty chemicals group, which cut its annual targets due to the shortage of semiconductors, also announced a takeover. He wants electronic materials specialist Rogers Corp. for $ 5.2 billion. Before the trading day, the Dupont shares rose by half a percent, while Rogers jumped up by almost 30 percent.
Tesla -Founder and boss Elon Musk meanwhile informed on Twitter that an announced large order by the car rental company Hertz with the electric car manufacturer Tesla has not yet been signed. Hertz announced towards the end of October that it had ordered 100,000 cars from Tesla, which should be delivered by the end of 2022, which had driven the price of Tesla shares even higher. The stock market value had then cracked the trillion mark for the first time. Now Tesla’s stock fell almost four percent before the market.
Musk tried to put the deal’s significance for Tesla into perspective shortly after Hertz announced the purchase. Among other things, he called it on Twitter “strange” that the news had moved the course – because Tesla had no demand problem, but could not ramp up production fast enough. Musk also emphasized that there would be no discount for Hertz./ck/mis
ISIN US2605661048 US6311011026 US78378X1072
AXC0226 2021-11-02/13:56
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